CHICAGO, Nov. 15, 2023 /PRNewswire/ -- Morningstar, Inc.
(NASDAQ: MORN), a leading provider of independent investment
insights, today introduces the Morningstar® PitchBook Global
Unicorn Industry Vertical Indexes™, a suite of eleven indexes
that take Morningstar's global unicorn index series to the next
level by offering insights into the industry trends that are
propelling and shaping today's venture capital innovation
economy.
The new indexes combine the leading venture company data,
analytics and insights from PitchBook, an independent subsidiary of
Morningstar, with the indexing expertise of Morningstar Indexes,
one of the fastest-growing global index providers. The industry
vertical indexes are derived from the Morningstar PitchBook Global
Unicorn Indexes, originally launched in November 2022, and are each designed to enhance
investors' ability to identify, track and better understand
compelling thematic venture capital investment segments.
Sanjay Arya, CFA – Head of
Innovation, Morningstar Indexes, said: "We launched our
Morningstar PitchBook Global Unicorn Index Series a year ago to
help investors better understand the behavior of private markets
and, in the process, provide greater transparency into what has
become a significant segment of the capital markets. We've now
taken this innovation a step further with our industry vertical
indexes, providing a deeper understanding of the markets that go
beyond the traditional lens."
The family of indexes tracks eleven select industry verticals
identified by PitchBook's analysts, which group companies by common
products, technologies, or themes to provide a useful taxonomy for
discovering innovators with similar growth drivers. These
verticals include AgTech, Artificial Intelligence and Machine
Learning, BioPharma, Climate Tech, Cybersecurity, E-Commerce,
Enterprise SaaS, FinTech, HealthTech, Mobility Tech and Supply
Chain Tech.
The indexes use a proprietary mark-to-model pricing methodology,
developed by Morningstar, which combines past deal data and private
and public comparable data to create an implied price that enables
daily estimation of private company valuations.
Paul Condra – Head of Emerging
Technology Research, PitchBook, said: "We're incredibly
excited to build on our collaboration with Morningstar Indexes to
contribute our industry-leading venture capital data and research
expertise to Morningstar Indexes' index methodology. Each of the
eleven index themes corresponds to an established emerging
technology research practice area and well-followed research
analyst on our PitchBook team."
About Morningstar, Inc.
Morningstar, Inc. is a leading provider of independent investment
insights in North America,
Europe, Australia, and Asia. The Company offers an extensive line of
products and services for individual investors, financial advisors,
asset managers and owners, retirement plan providers and sponsors,
and institutional investors in the debt and private capital
markets. Morningstar provides data and research insights on a wide
range of investment offerings, including managed investment
products, publicly listed companies, private capital markets, debt
securities, and real-time global market data. Morningstar also
offers investment management services through its investment
advisory subsidiaries, with approximately $264 billion in assets under advisement and
management as of Sept. 30, 2023. The
Company operates through wholly- or majority-owned subsidiaries in
32 countries. For more information,
visit www.morningstar.com/company. Follow Morningstar on
Twitter @MorningstarInc.
About PitchBook
PitchBook is a financial data and
software company that provides transparency into the capital
markets to help professionals discover and execute opportunities
with confidence and efficiency. PitchBook collects and analyzes
detailed data on the entire venture capital, private equity and
M&A landscape—including public and private companies,
investors, funds, investments, exits and people. The company's data
and analysis are available through the PitchBook Platform, industry
news and in-depth reports. Founded in 2007, PitchBook operates
globally with more than 3,000 employees. Its platform, data and
research serve nearly 100,000 professionals around the world. In
2016, Morningstar acquired PitchBook, which now operates as an
independent subsidiary.
About Morningstar Indexes
Morningstar Indexes,
recently named the fastest growing global index provider by
Burton-Taylor, was built to keep up with the evolving needs of
investors—and to be a leading-edge advocate for them. Our rich
heritage as a transparent, investor-focused leader in data and
research uniquely equips us to support individuals, institutions,
wealth managers and advisors in navigating investment opportunities
across all major asset classes, styles and strategies. From
assessing risk and return with traditional benchmarks to helping
investors effectively incorporate ESG objectives into their
investment process, our range of index solutions spans an
investment landscape as diverse as investors themselves. We help
investors answer today's increasingly complex questions so that
they can more easily reach tomorrow's goals.
Please visit indexes.morningstar.com for more information.
©2023 Morningstar, Inc. All Rights Reserved.
MORN-P
Morningstar Media Contacts:
Tim Benedict, +1 203 339-1912 or
tim.benedict@morningstar.com
Orion Sang, Edelman Smithfield, + 734 678-2187 or
Orion.Sang@edelman.com
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