Double 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 at present comprises 624 companies, 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. As of July 31, the index stood at 631.55, down from 658.88 on June 30.

Separately, the PVCI had a market capitalization of $672.5 billion on July 31, down from $701.7 billion on June 30. —L.A.