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VENTURE 50

Discover tomorrow's market leaders - today

The Venture 50 is our curated coverage list of 50 private companies we believe are positioned to define their categories. From AI and defense to fintech and energy, these are the names we research, track, and build investment theses around — so when an opportunity opens, we’re ready to move with conviction. Explore available opportunities in TSG Vault, or if you’re new to the pre-IPO secondary market, start with our comprehensive Pre-IPO Investing Guide to understand the structures, risks, and mechanics before you invest.

50

HANDPICKED
COMPANIES

10+

INDUSTRY
VERTICALS

EXCLUSIVE

INSIGHTS &
OPPORTUNITIES

EARLY ACCESS

TO TOMORROW'S
MARKET LEADERS

TSG VAULT

GAIN
ACCESS

VENTURE 50 INDEX BY TSG INVEST

PRIVATE MARKET PRICING — IN ONE PLACE

Most private market pricing is scattered across platforms, brokers, and back channels. The Venture 50 Price Index is an equal-weight index that brings it all into one place — estimated share pricing for every company on our coverage list, composited quarterly from multiple secondary market sources.

TSG Venture 50 Index
TSG Venture50 Index
Updated Q3 2026
888.79
+788.79%
all time
TSG Venture 50 — Sector Returns
Sector Returns
Updated Q3 2026
Equal-weight all-time returns by sector since the Q1 2024 baseline. Bar width scales relative to the top-performing sector.
Sector Companies All-Time Return Last Quarter
The TSG Venture 50 Index reflects the extraordinary repricing of artificial intelligence, robotics, and AI-adjacent companies in private secondary markets between Q1 2024 and Q1 2026. Four sectors — Artificial Intelligence, AI Infrastructure, Robotics & Autonomy, and Defense & Aerospace — comprise 30 of the 50 constituents and contributed approximately 86% of the index’s gain over the measurement period. A concentrated group of early-stage AI and robotics companies, whose secondary market prices were modest at the Q1 2024 baseline, experienced substantial multiples of price appreciation. Public equity benchmarks have also advanced over this window, though at a fraction of the magnitude observed in private AI secondaries.

50

PRIVATE
COMPANIES

9

SECTORS
COVERED

1

DEFENITIVE SOURCE
TSG INVEST INDEX

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THE COMPANIES WE'RE COVERING — AND WHY

Every name below is here for a reason. Explore any company to learn their story, what they build, and why they may be gaining traction in the private markets.

agility robotics

Agility Robotics, founded in 2015 as a spinoff from Oregon State University’s Dynamic Robotics Laboratory by robotics researchers…

Airtable

Airtable is a technology company that lets people build custom software applications without needing…

Anduril Industries

Anduril Industries, founded in 2017, is a defense technology company that’s bringing Silicon Valley-style innovation to…

Anthropic PBC

Imagine having a conversation with your computer that feels as natural as chatting with a colleague.

AppTronik

Apptronik is a company developing humanoid robots designed to work alongside humans in factories, warehouses, and other industrial settings…

applied intuition

Applied Intuition is an AI-powered software infrastructure company that helps automakers, defense agencies, and industrial operators…

Axiom Space

Axiom Space, founded in 2016, is working to build the world’s first commercial space station and currently offers private trips…

bytedance

ByteDance, the Chinese technology company behind TikTok, has become the world’s largest social media business by revenue…

Canva

Canva is a Sydney-based design technology company specializing in user-friendly visual creation tools. Known for democratizing professional design…

Cohere

Cohere, a fast-growing artificial intelligence company founded in 2019, is attracting attention from investors due to its…

Colossal Biosciences

Colossal Biosciences, founded in 2021, is a biotech company working to bring extinct animals back to life while developing practical applications…

crusoe energy

Crusoe Energy Systems is building the data centers needed to power artificial intelligence in an environmentally innovative way by using wasted…

Databricks

Databricks helps businesses make better use of their data through artificial intelligence and analytics tools. The company is growing…      

Discord

Discord has evolved from a gaming chat platform into a comprehensive communication service that’s caught investors’ attention…

Epic Games

Epic Games represents an interesting investment opportunity in interactive entertainment, having grown from a small game developer to…

erebor bank

Erebor Bank is a new nationally chartered bank — meaning it holds a full federal banking license and its deposits are government-insured…

fanatics

founded as Football Fanatics in 1995 by brothers Alan and Mitch Trager and later transformed by serial entrepreneur Michael Rubin …

Figure AI

Figure AI represents a potential investment opportunity in the emerging humanoid robotics market, developing advanced…

flock safety

Flock reached an $8.4 billion valuation in April 2026, surpassed $300 million in annual recurring revenue, and now serves more…

gecko robotics

Gecko Robotics was founded in 2013 in Pittsburgh, Pennsylvania by Jake Loosararian and Troy Demmer.Loosararian, the company’s CEO, has…

Helion

Helion is an Everett, Washington-based fusion energy company specializing in commercial nuclear fusion power generation…

Impossible Foods

Impossible Foods stands out for its innovative heme-based technology that replicates the taste and experience of animal meat…

kalshi

Kalshi, founded in 2018 by MIT classmates and quantitative finance veterans Tarek Mansour and Luana Lopes Lara, is a New York-based company…

Kobold Metals

KoBold Metals is a technology company that uses artificial intelligence to find valuable minerals needed for electric vehicle…

Kraken

Kraken, one of the world’s largest cryptocurrency trading platforms, is potentially opening up for investment, with discussions of…

lambda

Lambda, founded in 2012 by twin brothers Stephen Balaban (CEO) and Michael Balaban (CTO), is a San Jose-headquartered AI infrastructure…

Neuralink

Neuralink presents an investment opportunity in cutting-edge brain-computer interface technology that connects…

OpenAI

Picture a tech company that created something so popular, it attracted more users in five weeks than Netflix…

Perplexity AI

Perplexity AI, founded in 2021 by former OpenAI executives, is a San Francisco-based AI research company specializing in…

physical intelligence

Physical Intelligence, founded in late 2023 by a team widely considered among the most influential in robotics AI — including Karol Hausman…

polymarket

Polymarket, founded in 2020 by Shayne Coplan — a self-taught programmer who dropped out of NYU at 22 and built the platform alone from his Lower East…

project prometheus

Project Prometheus, co-founded in November 2025 by Amazon founder Jeff Bezos and former Google X executive Vikram “Vik” Bajaj, is a San Francisco-based…

PSIQuantum

PsiQuantum is a Palo Alto-based quantum computing company specializing in large-scale, fault-tolerant quantum computers…

ramp

Ramp, founded in 2019 by Eric Glyman (CEO), Karim Atiyeh (CTO), and Gene Lee — who previously built and sold price-tracking startup Paribus…

Redwood Materials

Redwood Materials is pioneering a solution to one of the electric vehicle industry’s biggest challenges: creating a sustainable,

Relativity Space

Relativity Space is a rocket manufacturing company that aims to revolutionize space travel by using advanced 3D printing…

replit

Replit is an AI-powered software development platform that enables anyone — regardless of technical skill…

Ripple

Ripple is a financial technology company that’s making it faster and cheaper for banks to send money across international borders…

revolut

Revolut, founded in London in 2015 by Nikolay Storonsky, a former trader at Credit Suisse and Lehman Brothers, and Vlad Yatsenko../.

SAMBANOVA

SambaNova is a private artificial intelligence chip company that has developed specialized hardware designed to run AI applications more…

SandboxAQ

SandboxAQ is a quantum-AI technology company that combines artificial intelligence with quantum computing principles…

saronic

Saronic Technologies, founded in 2022 by Dino Mavrookas — a former Navy SEAL with 11 years of service including five years with SEAL Team Six…

Scale AI

Scale AI is a San Francisco-based data infrastructure company specializing in preparing high-quality training data for artificial intelligence systems…

Shield AI

Shield AI is a defense technology company that creates autonomous military drones and aircraft systems – essentially giving military…

skild ai

Skild AI, founded in May 2023 by Deepak Pathak (CEO) and Abhinav Gupta (President) — two Carnegie Mellon University professors…

Stripe

Stripe, founded by the Collison brothers in 2010, has grown from a simple online payment processor into a global financial technology…

terrapower

The world needs vastly more clean, reliable electricity — and the surge in AI data center demand has turned that need urgent. 

vast data

VAST Data, founded in January 2016 by Renen Hallak — the first engineer at XtremIO who architected what became…

Waymo

Waymo, originally launched in 2009 as Google’s self-driving car project and spun out as an independent company in 2016…

zipline

Zipline, founded in 2014 by Keller Rinaudo Cliffton — a Harvard graduate, former professional rock climber, and molecular computing researcher 

DISCLAIMER:

The Venture 50 is a proprietary research and coverage list maintained by TSG Invest and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security, investment product, or investment strategy. Inclusion of a company on the Venture 50 does not imply that an investment opportunity is currently available, nor does it represent an endorsement of any particular company or its securities. Pre-IPO investments are speculative, illiquid, and involve a high degree of risk, including the potential for total loss of invested capital. All investment opportunities are offered exclusively to accredited investors through the applicable offering documents of TSG Alpha Partners LLC, a SEC-registered investment adviser, or TSG Capital Advisors LLC, a FINRA-registered broker-dealer, as applicable. Investors should review all offering documents — including the Private Placement Memorandum, Operating Agreement, and Subscription Agreement — in their entirety before making any investment decision. Past performance is not indicative of future results. TSG Invest does not provide tax, legal, or accounting advice. Please consult your own advisors before investing.

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