‍PM50 Growth Index & Sectors Performance

|| Return On Investment (ROI) from December 31, 2023 until January 31, 2025.

PM50 Growth: 135.34%

Automation: 123.39%

AI: 150.33%

Financial: 136.52%

Banking: 162.78%

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PM50 Growth Privates versus Public Benchmarks/ETFs

|| ROI from December 31, 2023 until January 31, 2025.

PM50 Growth: 135.34%

Invesco Nasdaq-100 ETF: 128.29%

SPDR S&P 500 ETF Trust: 128.24%

RENAISSANCE IPO ETF: 124.56%

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Public v. Private (12mo)

The PM50 Growth tracks the performance of the 50 most active private names observed in the secondary market. It is an equal-weighted index, rebalanced on a monthly basis.

This rebalancing of constituents over time gives way for more active names to participate in what we observe as "market performance," and in a more appropriate manner than static selections and weightings criteria.

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_{Private Market: Sector Level}

|| Sector-level analysis for January, 2025‍

PM50 Growth index was up 6.04% with volatility of its ROI at 60%.

Data had the largest increase in ROI at 19.46% with a high volatility of its ROI at 71%.

Hardware had the smallest in ROI at 0.39% with volatility of its ROI at 12%.

AI had the highest volatility of its ROI at 121% and ROI at 13.32%.

Entertainment had the lowest volatility of its ROI at 9% and ROI at 5.61%.

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MoM Return on Investment (ROI) for January

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Volatility of ROI

The volatility of ROI is calculated based on the movement over the previous 90 days i.e. between November 3, 2024 and January 31, 2025.

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Total Bid and Ask Volume and Ratio in January

The plot below shows the total bid and ask volume and their ratio within each sector for selected companies with significant activities.

40.27% of PM50 Growth's observed total volume of $2.2B was from bids.

Banking and Neobank sectors had the largest bid volume ratio at 76.47% of the total $359.63M.

Hardware sector had the largest ask volume ratio at 89.01% of the total $127.39M.

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Mean Bid to Ask Spread in January

The plot below shows the mean bid to ask spread within each sector for selected companies with significant activities.

PM50 Growth's mean bid to ask spread was 7.3%.

Payments sector had the largest mean bid to ask spread at 17.9%.

Marketing and Entertainment sectors had the lowest mean bid to ask spread at 3.1%.

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Mean Volume per Indication Type

In 2024 average indication sizes peaked at $19.72M during June.

Asks: In 2021 the average offer was $25.77M, and the yearly average has dropped dramatically to ~$10M between 2022 and 2024. The average offer volume during January of 2025 was $8.71M.

Bids: Similarly, the average bid in 2021 was higher than the following years. The average bid volume ranged from $6.93M to $33.59M in 2021, $6.12M to $30.83M in 2022, $8.21M to $16.37M in 2023, and $6.45M to $16.16 in 2024. Similar to the average offer the average bid volume during January of 2025 was $8.43.

Trades: Trades volumes have been quite volatile, with lowest average volume of $1.17M seen on October of 2024 and largest average volume of $17.71M seen on June of 2021. The average trade volume for January of 2025 was $5.67M.

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Sectors

Headquarters

CEO

Monthly Statistics

PM Insights highlights monthly statistics from January, 2021 until November, 2024.

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Monthly PM50 Growth ROI

The plot below displays PM50 Growth's monthly ROI. PM50 Growth had the largest ROI at 16.25% in January 2021, and the lowest ROI at -10.5% in June 2022.

In January 2025, PM50 Growth's ROI was up by 6.04%.

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Monthly Institutional Level Activity

The plot below shows the number of institutional level ($1M+) Bid, Ask, or Trade contributions on a monthly basis.

July 2024 had the largest activity with 800 contributions with a volume over $1M. April 2021 had the lowest activity with 183 contributions with a volume over $1M.

There were 265 unique institutional-level broker contributions in January 2025.

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Monthly Total Bid and Ask Volume

The plot below displays the sum of bid and ask volume on a monthly basis, as observed by PM Insights.

June 2021 had the largest total volume at $21.10B.

December 2021 had the lowest total volume at $2.12B.

January 2024 had a total volume of $2.77B, less than half the total volume of December 2024, which was $7.40B.

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Monthly Bid and Ask Volume Ratio

The plot below displays the ratio of bid and ask volume on a monthly basis.

In January 2021, bids reached their highest ratio at 57.69% of the total volume of $4.62B.

In April 2022, offers reached their highest ratio at 94.21% of the total volume of $12.79B.

In January 2025, bids represented 36.13% of the total volume of $2.77B.

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Monthly Mean Bid and Ask Spread

The plot below displays the mean bid to ask spread on a monthly basis.

July 2023 had the largest mean bid to ask spread at 13.87%.

January 2022 had the lowest mean bid to ask spread at 9.15%.

January 2025 had a high mean bid to ask spread at 12.41%.

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Proportion of Change in Valuation

92% of companies in PM Insights' universe traded higher during their latest round compared to the previous round.

On the other hand, 56% of companies are trading at a discount versus their most recent round, and 44% managed positive returns there, pointing to a ways to go to recovering some of the investments made in the heady days of 2021.

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Change in Composite Price (MoM)

PM Insights highlights the top five and bottom five companies in terms of change in composite price between December 31, 2024 and January 31, 2024 with significant activities i.e. at least 3 institutional-level contributions.

Ripple had the largest increase in composite price from $47.87 to $93.02 .

Lightmatter had the largest decrease in composite price from $65.66 to $61.39.

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Change in Total Bid and Ask Volume (MoM)

PM Insights highlights the top five and bottom five companies with significant activities in terms of change in total bid and ask volume between December 2024 and January 2025.

Rippling had the largest increase in volume from $108.9M to $167.0M.

Discord had the largest decrease in volume from $68.28M to $4.97.

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Most Active Names Performance

Data as of January 31, 2025

_{* Price (USD) estimated based on secondary market activity observed by PM Insights. Valuation is estimated based on said price and share count from state filings and/or news in the public domain. Note that share count in calculations may change as new filing documents are obtained.}

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