Index Fund for Private Firms Makes Backing Unicorns Easier
- Forge Accuidity fund tracks market cap-weighted index
- Investors keen to capture private growth ahead of IPOs
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Qualified investors looking to tap the growth of privately-held companies now have a way to simplify the dilemma of which unicorns to back. There’s an index fund for that.
Forge Global Holdings Inc. partnered with Boston-based asset manager Accuidity LLC to launch on Tuesday the first fund based on an index that tracks the performance of 60 of the most liquid late-stage, venture-backed private companies including SpaceX, Cerebras Systems Inc. and Databricks Inc., according to the San Francisco-headquartered infrastructure and data provider.