Morningstar PitchBook Unicorn 30

What this index holds, how it is built, and what its record does not cover. Morningstar Indexes, built with PitchBook.

What it tracks

The Morningstar Pitchbook Unicorn 30 Index tracks the performance of late-stage venture-backed companies with a valuation of $1 billion or more. This index focuses on the largest and most liquid unicorns, providing access to some of the most innovative and fastest growing companies globally. To support replicability, index constituents must meet liquidity requirements.

The same idea as the Unicorn 20, with thirty constituents instead of twenty. This is the one the provider's own family page markets.

Run by Morningstar Indexes, built with PitchBook. PrePost has no relationship with the provider and is not paid to list this index.

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Most of the record is backfilled

The index began on 2025-01-13. Its performance record starts 2014-12-19, so the years before 2025-01-13 are backfilled rather than live. A long-run return quoted for this index is mostly a backtest.

Private marks can be stale

The provider's own reporting notes that where transactions are infrequent, secondary-market marks can stay unchanged even as new information emerges.

How the index is built

FieldValue
ProviderMorningstar Indexes, built with PitchBook
InceptionJanuary 13, 2025
Performance record startsDecember 19, 2014
Constituents29
WeightingEqual Weight
RebalanceQuarterly (next September 21, 2026)
CurrencyUSD
How constituents are pricedNot published as a rule. The provider's quarterly reporting on this family sources its secondary-market marks to Caplight, alongside Morningstar and PitchBook data.
Published methodologyNone that we could find. The index page, the family page and the provider's screener all link no rulebook or factsheet.
VariantsMorningstar PitchBook Unicorn 30 PR USD
Morningstar PitchBook Unicorn 30 GR USD
Morningstar PitchBook Unicorn 30 NR USD
IdentifiersFS0000J90D (Morningstar fund ID)

What is in it

Named constituents as of August 31, 2026.

PrePost has a sourced figure for 9 of the 29 named constituents.

Membership as the index provider published it on this date. PrePost shows which companies are in the index, not their weights.

CompanyPrePostEstimateConfidence
DatabricksVerified$190.0Bhigh
Anduril IndustriesVerified$100.0Bmedium
SpaceXListedNo PrePost figure yet
AnthropicVerified$965.0Bhigh
Mistral AIListedNo PrePost figure yet
RampVerified$44.0Bmedium
NotionListedNo PrePost figure yet
RevolutListedNo PrePost figure yet
OpenAIVerified$894.3Bhigh
DiscordVerified$8.5Bmedium
Cerebras SystemsListedNo PrePost figure yet
CognitionListedNo PrePost figure yet
CanvaListedNo PrePost figure yet
StripeVerified$159.0Bhigh
DeelListedNo PrePost figure yet
Skild AIVerified$16.9Bmedium
Applied IntuitionListedNo PrePost figure yet
PerplexityVerified$22.6Blow
AirtableListedNo PrePost figure yet
CelonisListedNo PrePost figure yet
RipplingListedNo PrePost figure yet
ChainalysisListedNo PrePost figure yet
KrakenListedNo PrePost figure yet
Epic GamesListedNo PrePost figure yet
FigureNot resolved to one company — see the note below
GustoListedNo PrePost figure yet
RippleListedNo PrePost figure yet
VAST DataListedNo PrePost figure yet
FlexportListedNo PrePost figure yet

Verified means a full PrePost profile with sourced figures. Listed means the company is named here because a benchmark we track names it; PrePost has published no figure for it and does not rank it.

The provider lists “Figure” with no further identifier. At least two unicorns use the name: Figure AI, which PrePost tracks, and Figure Technologies. PrePost does not publish an inference as a fact.

Vehicles that track it

None that PrePost tracks. That does not mean none exists: a product can track an index without PrePost having verified it, and PrePost lists a vehicle only once it can source what the vehicle is and what it holds.

Sources

An index is not an investment. Tracking one costs money and the product that tracks it may not hold what the index holds. This page describes the index, not any product, and is not investment advice.

Last updated 2026-09-12. See also how we verify and our disclaimer.