Announcing the launch of the NYSE OpenVC 500 IndexPress Release
ReadThe new crossover benchmark brings together the largest public and venture-backed private companies in a single, transparent index
NEW YORK, NY - May 5, 2026 - OpenVC®, a pioneer in private market indexing, today announced the launch of the NYSE® OpenVC® 500 Index, a first of its kind benchmark designed to track the 500 largest companies by value in the United States, regardless of whether they are publicly listed or venture capital-backed.
As venture-backed companies stay private longer and reach valuations that rival long-established public companies, traditional equity indices that only track publicly listed companies no longer capture the full picture of U.S. economic growth. This new index was created to address that gap by offering a more complete view of where value, innovation, and scale truly reside in the U.S. equity landscape.
“If you're benchmarking U.S. equity market performance based solely on the performance of publicly-listed companies, you're missing a huge piece of the puzzle,” said David Shapiro, Co-Founder and CEO of OpenVC. “In fact, the two largest private venture-backed companies in the U.S. today are each valued at more than $850 billion, which would place them comfortably on the list of the 15 largest companies in the NYSE U.S. 500. Add the fact that private companies are pioneering so much of the innovation taking place in Artificial Intelligence and other areas of the tech sector, and it's no wonder investors have been demanding greater transparency to the full picture of the U.S. equity market, something we're very excited to finally be providing them with today.”
The NYSE® OpenVC® 500 Index combines constituents from the NYSE® U.S. 500 Index and the NYSE® OPEN Venture Capital Unicorn Index, which tracks the largest venture-backed private companies with valuations above $1 billion. From this unified universe of both public and private companies, the 500 largest U.S.-headquartered companies are selected and weighted using a modified, non-float-adjusted market capitalization approach.
This methodology allows private companies to be represented alongside public peers in a framework designed to be consistent and investable, while caps on private holdings are applied to meet product and liquidity requirements.
The index is reconstituted annually and calculated and disseminated daily, with ICE Data Indices serving as index administrator and calculation agent.
By integrating large private companies into a familiar index structure, OpenVC aims to provide investors, advisors, and product issuers with a benchmark that more accurately reflects total U.S. equity returns, not just those visible in public markets.
“We have decades of experience designing new index methodologies to meet the needs of the constantly evolving financial markets,” said Preston Peacock, Head of ICE Data Indices. “By leveraging OpenVC’s innovative methodology for valuing private companies and ICE’s listed equity indices, we’re able to bridge the chasm between public and private markets and create an index that benchmarks the breadth and dynamism of the U.S. capital markets.”
To learn more about the NYSE® OpenVC® 500 Index, please visit https://openvc.com/.
OpenVC® is revolutionizing index investing in the late-stage venture capital space, offering improved access to the world's leading private Unicorns. Our mission is to democratize venture capital investment with low-cost, institutional-grade products. With a focus on reducing fees and leveraging the power of index investing, we are committed to making this asset class accessible to all investors. For more information, visit www.openvc.com.
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ICE Data Indices, LLC (“IDI”) is the administrator of the index referenced herein. Additional important information regarding the index, including methodologies, limitations, and disclaimers, can be found at indices.ice.com. IDI, its affiliates or their third-party suppliers make no representations or warranties regarding the advisability of investing in securities generally or in any investment product based on an index. Past performance of an index is not an indicator of or a guarantee of future results.