PVCI Roars Back

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 563 companies as of March 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 stood at 371.47 on March 31, up from 339.56 on Feb 27, marking its first monthly increase this year. The index has declined in five of the past seven months.

Separately, the PVCI had a market capitalization of $347.99 billion on March 31, up 9.4% from $318.07 billion a month earlier.

Of the 563 stocks tracked by the PVCI, 415 posted gains in March while 148 posted declines. —Lawrence Aragon