Boom time

The Thomson Financial 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 at present comprises 648 companies, seeks to track the universe of venture-backed stocks from the point of going public until publicly traded for 10 years. Companies are taken off the index after 10 years or if they are acquired, merged to form a new corporate entity, removed from a publicly traded exchange, or if price data are no longer available.

The index is calculated daily and does not take into account dividends. It began in January 1986 with an initialized index value of 100. As of May 31, the index value stood at 773.73, up from 744.89 a month earlier.

Separately, the PVCI had a market capitalization of $773.73 billion on May 31, up from $760.4 billion on April 30. —Lawrence Aragon