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Late-stage private tech companies are now essentially their own asset class

Late-stage private tech companies are now essentially their own asset class

The number and value of late-stage private tech companies has soared in recent years, transforming the group into its own new asset class. There are now 471 such companies, up from 171 in 2014, and their total value is $490 billion, reports Peter Christiansen, the research director at Scenic Advisement, a private Silicon Valley investment…