ApeVue 2024 April in ReVue

Institutional secondary market-driven data insights covering a universe of private venture-backed companies.

May 10, 2024

Hill Chart Shape

A quick note from the ApeVue team…

The month of April was very interesting in the private markets- notably there was a convergence of private and public market indices, in addition to positive performance. The year-to-date (YTD) index value for ApeVue50 on May 6, 2024, is 108.6, which is within half a point of the IPO at 108.0, NDX at 109.4, and SPY at 109.6.

We’ve noticed that although the months January, February, and March of this year 2024 exceeded the monthly institutional-level activity since 2021, April saw a significant drop off in terms of institutional activity. Yet, the overall AV50, and popular Data, Payment and SaaS benchmarks remained positive.

A notable hotspot of activity worth mentioning is Vercel. The company announced acquisition of ModelFusion.dev and the launch of Vercel AI SDK 3.1 on May 2nd, 2024. The anticipation for those two events likely played a role in the sharp increase in the total volume of bid and ask contributions, as well as in its composite price in April. Vercel was valued at $2.5B during its latest round D in October, 2021. ApeVue implies its valuation is down by -3.58% at $2.41B as of May 6, 2024. ApeVue’s broker-dealer and bank consortium has observed $100m+ in bid, offer, and trade volume over the last 30 days alone.

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ApeVue50 Index & Sectors YTD Performance

Return On Investment (ROI) from January 02, 2024 until May 06, 2024

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ApeVue50 Privates versus Public Benchmarks/ETFs

Indices from January 02, 2024 until May 06, 2024

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Private Market: Sector Level

|| Sector-level analysis from March 31, 2024 to April 30, 2024‍

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ApeVue50 index is up 2.69% with volatility of its ROI at 35%.

AI has the highest increase in ROI at 6.44% with volatility of its ROI at 33%.

Transportation had the highest decrease in ROI at 3.88% with volatility at 29%.

Data has the highest volatility of ROI at 38% and is up 5.26%.

Entertainment has the lowest volatility of ROI at 6% and is up 2.51%.

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Return On Investment (ROI) for April

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Volatility of ROI in April

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Total Bid and Ask Volume and Ratio in April

The plot below shows the total bid and ask volume and their ratio within each sector for selected companies with significant activities.

Entertainment sector has the highest bid volume ratio at 57% of the total $218M.

Blockchain and Transportation sectors have the highest ask volume ratio at 85% of the total $177M and $326M, respectively.

33% of ApeVue50's observed volume is on the bid-side.

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Median Bid and Ask Spread in April

The plot below shows the median bid and ask spread within each sector for selected companies with significant activities.
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Neobank sector has the highest median bid to ask spread at 30%.

Transportation sector has the lowest median bid to ask spread at 1%.

ApeVue50's median bid to ask spread is 11%.

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Sectors

Headquarters
CEO

Monthly Statistics

ApeVue highlights monthly statistics from January, 2021 until April, 2024.

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Monthly ApeVue50 ROI

The plot below displays ApeVue50's monthly ROI. ApeVue50's had the highest ROI at 20.36% in January 2021, and the lowest ROI at -11.49% in June 2022.

In April 2024, ApeVue50's ROI is up by 2.69%.

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Monthly Institutional Level Activity

The plot below shows the number of institutional level ($1M+) Bid, Ask, or Trade contributions on a monthly basis.

March 2024 had the highest activity with 729 contributions with a volume over $1M.

Activity dropped by half the count at 392 in April 2024 compared to March 2024.

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Monthly Total Bid and Ask Volume

The plot below displays the sum of bid and ask volume on a monthly basis, as observed by ApeVue.

March 2023 has the highest total volume at $14.7B.

December 2021 has the lowest total volume at $1.1B.

April 2024 has total volume at $5.2B, lower than March 2024 $7.2B volume in total.

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Monthly Bid and Ask Volume Ratio

The plot below displays the ratio of bid and ask volume on a monthly basis.

February 2021 has the highest bid-side at 92% of the total volume $2.3B.

May 2023 has the highest ask-side at 92% of the total volume $13.9B.

April 2023 has 29% of the total volume $5.2B on the bid-side.

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Monthly Median Bid and Ask Spread

The plot below displays the median bid to ask spread on a monthly basis.

December 2022 has the highest median bid to ask spread at 24%.

October 2021 has the lowest median bid to ask spread at 7%.

April 2024 has the moderate median bid to ask spread at 16%.

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Change in Composite Price (MoM)

ApeVue highlights top five and bottom five companies in terms of change in composite price between March 31, 2024 and April 30, 2024.

Cerebras Systems has the highest increase in composite price from $13.97 to $20.98.

xAI has the highest decrease in composite price from $21.9 to $11.01.

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Change in Total Bid and Ask Volume (MoM)

ApeVue highlights top five and bottom five companies in terms of change in total bid and ask volume between March, 2024 and April, 2024.

Vercel has the highest increase in volume from  $10.9M to $97.0M.

Flexport has the highest decrease in volume from $19M to $12.4M.

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