Private markets, priced like an index.
The world's venture-backed companies valued at $1 billion or more, in one allocation. Transparent rules, quarterly liquidity, and a 1.25% management fee.
Every share is bought from existing holders or vetted vehicles and verified before settlement.
Everything an allocation needs. Nothing it doesn't.
OpenSeries opens the late-stage rounds that used to be reserved for insiders, in a fund built the way index funds are built.
Index-tracked
Follows the Morningstar PitchBook Global Unicorn Index: every privately held, venture-backed company valued at $1 billion or more, worldwide. Read the index rules.
Clean sourcing
You know the shares are there. Each one is bought from existing holders or vetted vehicles, with delivery verified before settlement.
Low fee
Management fee of 1.25%, with no performance fee.
Quarterly liquidity
Repurchase offers each quarter at NAV, 5% to 25% of shares.
Weighted by valuation, capped
Constituents are weighted by their latest valuation, with no company above 10%. Reconstituted twice a year, rebalanced quarterly, priced daily.
Platform-ready
Built to sit on the platforms and custodians advisors already use. Tokenized share classes are on the roadmap, where regulation allows.
One line in a model portfolio.
Sized for a 2% to 4% alternatives sleeve. Subscribe on the platforms you already use, with standard tax reporting [confirm form].
A low-fee shelf product.
Index-based, transparent holdings, and a fee that fits beside platform charges.
Seed and anchor terms.
Dedicated share classes and reporting for anchor investors.
How it compares
| OpenSeries | Active private-company funds | Direct secondaries | |
|---|---|---|---|
| Management fee | 1.25% | 1.50% to 2.90% | Spread plus fees |
| Selection | Rules-based index | Manager discretion | One deal at a time |
| Diversification | 1,300+ companies, 10% cap | Manager-selected | Single company |
| Liquidity | Quarterly at NAV | Quarterly, varies | Until exit |
Ranges from public filings, October 2026. [Verify and footnote before publishing.]
Get the overview before launch.
For financial professionals and institutions.