June performance in Private Stocks Rivals Public Markets

ApeVue - New York, NY
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July 6, 2022

ApeVue data show the largest unicorns in the PE market drop further year-to-date (June 30th, 2022)

New York, NY, July 6, 2022 — ApeVue, the first independent provider of daily time series pricing and benchmarking for private markets, reports extended declines to end the second quarter.  With a sizeable sellers market, along with an underweighting of bids and trades by historical measures, ApeVue’s composites represented predominantly by secondary market activity fell across all major sectors through June; declines were apparent in unicorn stocks spanning entertainment, data/analytics, finance, and private food companies.

Cross-sector overview:

Underlying the ApeVue50, a benchmark of the most active 50 equally weighted privately traded startups, are key sub-sectors with consistent industry sets.  The weakest performer of 2021 was the private food company sub-sector, which is also showing the least volatility to the downside in 2022.  Food-based unicorns such as Eat Just and Impossible Foods tracked by ApeVue have declined in the sub-sector by 13.56% in 2022, which is roughly half the declines seen more broadly across the ApeVue50, down by 26.15% year-to-date.  

ApeVue50 and Sub-Sector Performance

A great deal of activity remains focused on household names including Stripe, Epic Games, OpenSea, and SpaceX, while the new constituents replacing less active May names are far from boring.  One such notable name ApeVue is happy to report visibility on is The Boring Company, another Elon Musk backed brand (up 7.18% in June, to a price of ~$26/share).

Crypto/DeFi Highlight: Kraken 

Across private late-stage businesses focused primarily on DeFi services, ApeVue has tracked few as consistently as Kraken.  The last six months have not been easy in most markets, but while comparing Kraken to Coinbase, a public market peer, holders benefitted for holding the private stock over the public comparable.  When bringing Bitcoin into view as well, a correlation on a delayed basis was visible across the three staples in the cryptocurrency space.  

Kraken (Private) v Bitcoin v Coinbase (Public)

Sector Overview: ApeVue50

This year’s performance of the 50 most active stocks tracked by ApeVue is down 26.15% through June 30th, 2022, compared to H1-2021 gains of 90.87%.  As compared to the Nasdaq, down 29.51% over the same period, the private market’s year-to-date decline has all but caught up to public peers.  

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About ApeVue 

ApeVue provides objective, daily pricing for non-public company stocks. Our independent data help institutional investors understand market conditions, measure risk and assign valuations with confidence. Price data from ApeVue are constructed from aggregated, anonymized market activity information sourced from licensed brokers at the nexus of institutional trading. Unlike traditional company valuation assessments done quarterly, ApeVue data show equity price fluctuations between funding rounds and regular financial reporting periods. With the largest, most timely, independent dataset covering non-listed companies, ApeVue is the best source for up-to-date  insights about the dynamic pre-IPO company market. 

Media contact: 

press@apevue.com +1 252 427 3883 / +1 252 4APEVUE