State of Secondaries - January 2024
Market insights
31 January
We are glad to note the sustained upward trend in the Secondary value of Unicorns, covering AI and non-AI sectors alike, as indicated by the Launchbay Unicorn Index.

State of Secondaries - January 2024

We are glad to note the sustained upward trend in the Secondary value of Unicorns, covering AI and non-AI sectors alike, as indicated by the Launchbay Unicorn Index. This positive development is reflected by a diminishing gap between Unicorn Indexes (including and excluding AI),, a testament to the revitalizing market atmosphere and the increased transparency in secondary transactions, a feat achieved through platforms like Launchbay.

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In-depth data on our sector indexes, particularly in the realms of Cybersecurity and Cryptocurrency, are currently following an upward trend. Companies like Snyk and Lacework in the Cybersecurity space, along with Starkware and Ripple in the Cryptocurrency sector, are at the forefront of this positive shift in the indexes.

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It’s worthwhile to note that most sectors, except AI, are trading at a discount in the secondary markets, but with some notable exceptions. For instance, Rubrik in the Cybersecurity space has been valued at a 63% premium compared to its last round valuation.

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# Market insights
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Myths Around Secondary Funds in PE and VC
14 April
The future of family office investing in private: why secondaries are the next investment opportunity
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Secondary Market Recap: Fintech Leads the Charge
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Secondary market pricing
31 May 23
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