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Another downer

The Thomson Reuters Post-Venture Capital Index (PVCI) is a market-valued index that measures the performance of public stocks of companies that have received financing from a U.S. venture capital firm or buyouts limited partnership prior to going public. The index, which was comprised of 576 companies as of Jan. 31, seeks to track the universe of venture-backed stocks from the point of going public until publicly traded for 10 years.

Companies remain in the index for 10 years from the IPO date or until price data is no longer available, they are acquired or removed from a publicly traded exchange. The index is calculated daily and does not take into account dividends. It began in January 1986 with an initialized index value of 100.

The PVCI fell 2.1% to 357.79 in January from 365.59 on Dec. 31. The index has declined in four out of the past five months.

Separately, the PVCI had a market capitalization of $340.3 billion on Jan. 31, down from $347.3 billion on Dec. 31. Of the 576 stocks tracked by the PVCI, just 227 advanced in value in January, while 349 declined. —Lawrence Aragon