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The private markets posted diverging results in July, according to Forge Global.
The Forge Private Market Index (FPMI) climbed 9.3 percent, even as the Forge All Private Market Index (FAPMI) dropped 4.2 percent— a decline driven by a 36.6 percent slump in SpaceX valuation. The latter’s sharp negative move exerted substantial downward pressure on the cap-weighted benchmark, underscoring the high concentration risk affecting private market indices. Forge Global data pointed to outsized performance differences among leading private companies for the month.
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SpaceX has drawn heightened attention from private market investors with plans for a 2026 IPO, according to recent coverage by Forge Global. Meanwhile, the second quarter saw major acquisitions involving Databricks and Anthropic AI on the Forge Global marketplace, as reported earlier this year here. These developments frame current volatility in the valuations of leading private firms.