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VC-backed stocks bounce back in March

The Thomson Reuters’ Post-Venture Capital Index (PVCI) bounced back at the end of March, gaining 193.55 points.

The PVCI ended March at 866.61 points. The March 31 mark was the highest month-ending point for the PVCI since July 2015 when it was at 928.55.

At the end of March, the PVCI was comprised of 454 companies. Of the stocks tracked, 348 advanced in value during the month while 106 declined. The number of companies in the index rises and falls, depending on new issues or as the companies fold or are acquired. Also, companies remain in the index for only 10 years.

A total of 82 of the advancing stocks in March were in computer software and services and 55 were biotech. The largest group of decliners was also biotech, with 29.

Downloadable Data: PVCI as of March 31, 2016

What is the PVCI?

The PVCI tracks VC-backed stocks beginning at the time when they go public. It is a market-valued index that measures the performance of public stocks of companies that have raised financing.

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.

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Photo of a board at the NYSE courtesy of Reuters/Brendan McDermid