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All Top 20 Private Blue-Chip Tech Companies in One Portfolio


Access a portfolio of the Top 20 most valuable private tech leaders.


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The World’s First Systematic Private Equity Strategy

The Stableton Unicorn Top 20 strategy invests in the 20 most valuable private tech companies, including OpenAI, Anthropic, and Databricks. Building on the principle of public market index funds, it follows a systematic strategy—making it the first offering of its kind. In collaboration with Stableton, Morningstar developed the Morningstar® PitchBook® Unicorn Select 20 Index™—a custom index that backtests the historical performance of the Top 20 private unicorns. It demonstrates the strength of a systematic approach to investing in the leading private blue-chip technology companies. The index also serves as the main input for the target allocation of the Stableton Unicorn Top 20 strategy.




Discover the outsized potential of private market growth

The Top 20 private unicorns have consistently outperformed public markets and traditional VC strategies over the last 10 years, driving value creation.


Morningstar® PitchBook® Unicorn Select 20 Index™

Public Equities*

*as measured by the Morningstar® Developed Markets Target Market Exposure Index™

Please note that the information provided above is for illustrative purposes only and should not be construed as financial advice. Past performance is not indicative of future results, and historical data should not be relied upon as a guarantee of future performance. Furthermore, please be aware that the information presented is not intended to represent any specific product or investment, and is not intended to be a substitute for professional financial advice. This is not the actual product and should not be treated as such. Please consult with a licensed financial advisor before making any investment decisions.



How We Build the Portfolio


Systematic Exposure

A passive strategy aligned with index investing principles.




Transparent Strategy

Target allocation guided by rule-based Morningstar index.




Efficient Execution

Adjust allocations on rebalancings or reconstitutions (e.g. IPO).




Allocation Rules

All Top 20 unicorns in developed markets with equal weight and liquid secondary markets.

Systematic Exposure

A passive strategy aligned with index investing principles.




Transparent Strategy

Target allocation guided by rule-based Morningstar index.




Efficient Execution

Adjust allocations on rebalancings or reconstitutions (e.g. IPO).




Allocation Rules

All Top 20 unicorns in developed markets with equal weight and liquid secondary markets.



THE STABLETON UNICORN TOP 20 STRATEGY


The Stableton Unicorn Top 20 strategy is the only approach that combines passive investing principles with access to top-tier private tech companies in semi-liquid, low-cost and evergreen investment products.



HOW THIS BECAME POSSIBLE


Market Depth

The secondary market increased to $162 billion, making large privately held unicorns more liquid.

New Data Providers

Multiple data providers emerged, including Morningstar providing data on 1,750+ unicorns with its newly launched index series since Nov 2022.

Transaction Expertise

With a track record of over 100 transactions, Stableton is the leading firm to execute this strategy.



What’s Broken in Private Markets—And How We Fix It


Exposure & Selection

Complex to pick a “winner”

Harvest Premium

Passive; no manager selection

Exposure & Selection

Complex to pick a “winner”

Harvest Premium

Passive; no manager selection


Access & Complexity

Top VCs are difficult to access

Ease

Transparent strategy; simple access to pre-IPO leaders

Access & Complexity

Top VCs are difficult to access

Ease

Transparent strategy; simple access to pre-IPO leaders


High Fees

20% incentive fee or multi-layer

Lower Fees

Low cost, no performance fee

High Fees

20% incentive fee or multi-layer

Lower Fees

Low cost, no performance fee


Liquidity

Lock-up of 10+ years

Semi-Liquid

Quarterly redemptions at NAV

Liquidity

Lock-up of 10+ years

Semi-Liquid

Quarterly redemptions at NAV




CAPITALIZE ON THE Rising Momentum for THE Top 20 Unicorns

Convergence in private and public tech valuations points to ongoing repricing in late-stage growth equity, offering strategic upside potential.




Partner with Stableton

Join forces with a leader in growth equity to access the world’s most valuable pre-IPO investment opportunities. Sign up below to receive more information about the Unicorn Top 20 and get connected with a Stableton specialist.


By clicking “sign up,” you agree to the use of your data in accordance with Stableton’s Privacy Policy, and Disclaimer, including for marketing purposes.



Frequently Asked Questions

Why partner with Stableton?

Navigating private markets is complex, with hidden risks in seemingly attractive deals. Stableton’s deep expertise helps mitigate these challenges—managing everything from legal structuring to transaction execution in pre-IPO secondaries. Our data-driven approach and extensive sourcing network ensure optimal deal access and execution, allowing you and your clients to focus on strategic investment decisions. For more details, contact us or book a call with the Stableton team.

How does Stableton access pre-IPO opportunities?

Stableton leverages a trusted network of 100+ partners, including brokers, platforms, and direct relationships with sellers and companies. Our active role in pre-IPO transactions provides us priority access to exclusive opportunities—often on preferential terms that wouldn’t be available otherwise. To learn more, contact us or book a call with the Stableton team.

Can Stableton support investments beyond the Top 20 unicorns?

Absolutely. We are happy to explore specific investment opportunities outside our core strategy and provide tailored support based on your needs. Contact us and let us know what specific investments you need support with.

How can I stay informed about available opportunities?

Get in touch with the Stableton team for more details.



Copyright © 2025 Stableton. All rights reserved.

Copyright © 2025 Stableton. All rights reserved.

Important Information The content of this website (“Website”) is provided by Stableton Financial AG and its affiliates (“Stableton”). Past performance is no guide to the future, the value of investments, and the income from them change frequently, may fall as well as rise, there is no guarantee that your initial investment will be returned. The Website must not be accessed by any user if and to the extent the access is illegal or for any illegal purpose under the jurisdiction the user/visitor is subject to. By accessing the information made available on the Website by Stableton and its affiliates, you acknowledge and accept the following statements; in case you do not consent to these terms and you do not qualify as a professional investor based on the rules applicable in your country of residence, you may not access this Website. While the material on the Website is often about Stableton’s strategy and certain parts of the Website constitute advertising, none of it may be considered as offer or as investment advice. The information contained herein constitutes neither an offer to sell nor the solicitation of an offer or a recommendation to buy any securities or investment products. This Website as well as the information contained therein do not constitute an offer, solicitation, invitation or recommendation to buy or sell any securities or related financial instruments or to execute other financial transactions of any kind and are therefore not the be used or considered as such. The strategy is not directly comparable to the public market. Third-party company names and logos are used for identification purposes only and the use does neither indicate an endorsement by or affiliation with Stableton. Any use of third-party company logos on this website is done in good faith for identification purposes only in order to avoid any confusion by users of this website and is not intended to infringe upon any intellectual property rights or to create any confusion or misrepresentation. Stableton does not make any warranty – expressed or implied - regarding any future performance. We recommend consulting with a professional advisor prior to making any investment or divestment decisions and duly consider the risks associated with any investments. Stableton does not provide any legal or tax advice and we recommend consulting with your professional advisors on related considerations. MORNINGSTAR DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE MORNINGSTAR® PITCHBOOK® UNICORN SELECT 20 INDEX™ OR ANY DATA INCLUDED THEREIN AND THE MORNINGSTAR ENTITIES SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. THE MORNINGSTAR ENTITIES MAKE NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY STABLETON, OWNERS OR USERS OF THE STABLETON UNICORN INDEX AMC, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE MORNINGSTAR® PITCHBOOK® UNICORN SELECT 20 INDEX™ OR ANY DATA INCLUDED THEREIN. THE MORNINGSTAR ENTITIES MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE MORNINGSTAR® PITCHBOOK® UNICORN SELECT 20 INDEX™ OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL MORNINGSTAR HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. Please ensure that this crucial information is reviewed and understood in conjunction with our disclaimer.