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Caplight Data Secondary Market Year-in-Review 2023

2023 Pre-IPO Year End Review: Cautious Year Ends with Optimism

Secondary Market Update November 2023

Secondary market volume remains highly concentrated

Q3 2023 Pre-IPO Secondary Market Update

Investors are primarily looking at companies in Data & AI + Fintech and the next class of IPOs

September 2023 Pre-IPO Secondary Market Update

Robust two-way markets exist in secondary stalwarts like SpaceX, Databricks, Stripe

Pre-IPO Stock Price Performance has Lagged the Public Market over the Past Year, Regardless of Sector

Private markets tend to lag pubic markets by 6 mo., indicating opportunities may be present

Increase in Structured Secondary Transactions in 2023

Pre-IPO Secondary Market Update 2023YTD

The Pre-IPO Asset Class: Quick to Correct, Longer to Recover

Primary Rounds are Catalyzing Private Secondary Market Activity

2023/2024 IPO Candidates Have Garnered a Flurry of Buyside Interest as the Tech IPO Market Returns

As the IPO Market Shows Signs of Life, Investors have Flocked to Pick Up Private Shares pre-IPO

Indicative Bid Activity has Rebounded After a Dip During the Banking Crisis

Amid Public Market Volatility, Buyers Step in to Purchase Shares at Discounts

Select Private Company Shares Trading Below 409a Valuations Show Need for Companies to Rethink Employee Compensation

The private secondary market selloff has led to multiple Unicorns trading Below their 409a valuations' leading to many consequences for employees

Increased Buy/Sell Activity and Falling Spreads are Signs that Activity in the Private Secondary Market is Picking Up

Private secondary market conditions have improved in 2023

Indicative Bid Volume vs. Total Volume at Highest Level Since 2021

Indicative bid volume as a % of total has continued to increase in 2023. Both indicative bid activity and indicative bid size have increased since public market lows in October 2022.

Fallen Unicorns: Startup Billionaires Nearly $100 Billion Poorer

These 44 founders have lost half their wealth and are nearly $100 billion poorer than a year ago. Twelve are no longer billionaires.

Caplight 2022 Year in Review

Caplight 2022 Year in Review

TikTok Parent ByteDance’s E-Commerce Volume Surged in 2022, Internal Data Show

Buyers want an even steeper discount, given uncertainties about TikTok’s fate in the U.S. and when ByteDance could go public. Investors have recently been offering to buy ByteDance shares at a valuation of around $194 billion, according to Caplight, which tracks the secondary market.

Caplight Data 2022 Year End Wrap - Preview

Hedge Funds Gave Startups Billions. What Are They Worth?

By the end of 2022, high-flying ventures known as unicorns lost more than 40% of their value from the year’s peak, according to an estimate from private-market data provider Caplight Technologies, a sharper drop than the rout in publicly traded tech stocks and worse than the returns most hedge funds in the space reported.

Actively Traded Private Companies at 52-week Lows

Private companies with at least $5M in completed transaction volume are down 50% on average from their 52-week highs

Mutual Fund Marks Analysis

Over the last 6 quarters, Fidelity mutual funds have marked down private investments (33% on average)

The Caplight Web3 Index

Over the last 6 months, the Caplight Web3 Index has dropped by 65%, driven by macro headwinds and secular trends

Caplight announces Caplight Data

Caplight today announced the release of Caplight Data, a tool for tracking venture-backed private company stock prices, valuations, and trading activity.

From Russia with love, firms eye Indonesia for expansion

Last year, write downs were a common theme in the investment industry, with unicorns losing more than 40% of their value from their peaks by the end of 2022, according to an estimate from private-market data provider Caplight Technologies.

These Crypto Founders And Bitcoin Moguls Lost $116 Billion In 2022

Shares of NFT exchange OpenSea are trading at a 75% discount since January, when OpenSea hit a $13.3 billion valuation, according to data from Caplight.

Some European tech giants’ valuations may be down as much than half

New data shows that the prices of some of Europe’s most successful private tech scaleups have fallen as much as half in the last 18 months — and some, like Sweden’s Kry, may have even lost their unicorn crown.

Private vs. Public Financial Company Performance

The Caplight Private Fintech Index has lagged the Fidelity Financials Index YTD

Fintech unicorn valuations have fallen hard in 2022

Data from early-stage fintech startup Caplight found that a lot of fintech’s biggest names from last year have been taking a serious valuation haircut when selling their equity shares on the secondary market.

Startup valuations are declining — but not consistently

When public-market stock prices started to fall, everyone reminded themselves that it would take a few months to see the real impact on the private market — historically a six-month lag. But data from Caplight, a fintech that looks to make secondary trading more transparent, found that late-stage startups weren’t really following a singular trend.

Will FTX-Like Unicorns Be the Next ‘Big Short’?

Founded by two former Forge employees in 2021, Caplight Technologies lets professional investors make bullish or bearish bets on unlisted startups via call and put options.

Caplight secures $3 million strategic investment from Deutsche Börse to expand derivatives trading and hedging on private company shares

Is buying and selling short positions in pre-IPO stock next?

Is buying and selling short positions in pre-IPO stock next? This fintech startup is banking on it