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Alternative Market Briefing

OpenVC and ICE launch first crossover benchmark blending top US public and private companies

Wednesday, May 06, 2026

Matthias Knab, Opalesque for New Managers:

OpenVC and Intercontinental Exchange (NYSE: ICE) on May 5, 2026 launched the NYSE OpenVC 500 Index (NYOV500), described as the asset management industry's first benchmark tracking the 500 largest companies by value in the United States regardless of whether they are publicly listed or venture-backed.

The launch responds to a structural distortion that has been quietly reshaping equity benchmarking for years: as venture-backed companies stay private longer and reach valuations that rival the largest public corporations, indices that capture only listed companies increasingly understate where value, innovation, and scale actually reside in the US economy.

According to OpenVC, the two largest private venture-backed companies in the US today are each valued at more than $850 billion - large enough to place them comfortably inside the top 15 constituents of the NYSE US 500. Closing the public-private gap "If you're benchmarking U.S. equity market performance based solely on the performance of publicly-listed companies, you're missing a huge piece of the puzzle," said David Shapiro, Co-Founder and CEO of OpenVC. He noted that with private companies pioneering so much of the innovation taking place in artificial intelligence and other technology segments, investors have been demanding greater transparen......................

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