Rainmaker Securities, a leader in the secondary market for shares of late-stage private equity issuers, today announced the launch of the Rainmaker 20 Index, a proprietary benchmark designed to provide greater transparency, insight, and data-driven perspective into the private markets.

The Rainmaker 20 Index tracks secondary market pricing trends across a curated group of 20 actively traded late-stage private companies, offering market participants a consistent reference point for observing relative pricing and broader trends in the private market. The Index is informed by composite pricing derived from secondary market order submissions sourced through the PM Insights (PMI) platform, reflecting observed market activity.

“Private markets have historically lacked clear, reliable benchmarks,” said Glen Anderson, Co-Founder and Chief Executive Officer at Rainmaker Securities. “The Rainmaker 20 Index brings much-needed transparency to this space, reflecting observed secondary market activity across a fixed set of highly liquid private companies. Informed by Rainmaker’s long history at the center of private market liquidity, it is a natural extension of our mission to make private markets more accessible, understandable, and efficient.”

The Rainmaker 20 Index was designed to provide both current insight and historical perspective. While formally introduced in March 2026, the Index includes data beginning January 1, 2024, allowing market participants to observe pricing trends over time. The Index level at launch reflects cumulative movement across the historical tracking period.

The Rainmaker 20 Index registered a level of 540 in Q1 2026, representing an increase of approximately 11% from Q4 2025 and approximately 105% from Q1 2025. These changes reflect shifts in aggregated secondary market indications for the companies tracked by the Index, such as SpaceX, OpenAI, and Anthropic.

“What we’re seeing in the Index reflects growing investor demand for exposure to mature private companies, as they remain private longer,” added Anderson. “While private markets tend to move with less day-to-day volatility than public equities, pricing adjustments around liquidity events can be meaningful and the Index is designed to capture those dynamics over time."

The launch of the Rainmaker 20 Index follows a banner year for Rainmaker Securities. In 2025, the firm achieved record transaction volumes, expanded its platform capabilities, and delivered 13% growth in its broker network. The firm recorded year-over-year growth of 70% transaction volume underscoring sustained demand for liquidity solutions in late-stage private markets and reinforcing Rainmaker’s leadership position heading into 2026.

“As interest in shares of late-stage private companies continues to grow, access to reliable information will allow investors to make informed decisions,” added Anderson. “Rainmaker is among the longest-standing independent broker-dealers focused on private market liquidity and remains committed to delivering data-driven insight and accessibility that serve both buyers and sellers in an evolving market.”

The Rainmaker 20 Index is constructed as a fixed, equal-weighted basket of 20 late-stage private companies, selected by Rainmaker Securities’ leadership team based on liquidity, historical pricing activity, market relevance, and investor demand observed on the Rainmaker platform. At inception, the Index was assigned a base level of 100 allocated equally across all constituents.

Constituents were selected in 2026 and remain static at launch to ensure continuity and transparency. The Index will undergo a rebalancing in January 2027. Additional details on the Rainmaker 20 Index, including methodology and constituent information, are available at https://www.rainmakersecurities.com/rainmaker-20-index

About Rainmaker Securities
Rainmaker Securities, LLC, a leader in the secondary market for shares of late-stage private equity issuers, is a FINRA registered broker-dealer and SIPC member. Rainmaker Securities is engaged by its clients to connect buyers and sellers of securities of high-growth private companies. Its platform provides additional liquidity within the traditionally illiquid marketplace for shares of late-stage private companies, helping buyers address the information problems, restrictions, and transparency issues characteristic of transacting in private securities, and helping sellers achieve liquidity for assets otherwise difficult to value and sell. For important disclosure information, please visit www.rainmakersecurities.com/disclosures.

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