Syntax Data, a financial data and technology provider specializing in data-optimized index solutions, and PM Insights, an independent market data provider for venture-backed private companies, have announced a strategic partnership. This collaboration integrates Syntax’s proprietary company classification system with PM Insights’ extensive private market dataset to provide a unified analytical framework for public and private assets.
Institutional investors are increasingly allocating capital to private markets, driven by extended IPO timelines and the emergence of late-stage ‘private IPO’ rounds. This trend has created a critical need for standardized classification and benchmarking across both public and private asset classes.
The new partnership addresses this need by combining PM Insights’ comprehensive coverage of mid-to-late stage venture-backed private companies with Syntax’s patented Functional Information System (FIS®) classification framework. Syntax, known for empowering investment managers, wealth advisors, and financial institutions with precise data solutions, has codified the business models for private companies exceeding $3 trillion in market value alongside 12,500 public companies. PM Insights, a leading provider of valuations, market benchmarks, and liquidity analytics for institutional investors, contributes its data derived from exclusive agreements with top-tier broker-dealers, banks, and secondary desks.
The FIS® framework allows for the analysis of both private and public companies through multiple dimensions and thematic lenses. This integrated classification system represents the first application of institutional-grade indexing methodology across both public and private company universes. It enables institutional investors, registered investment advisors (RIAs), and asset managers to conduct more accurate competitive benchmarking and derive actionable insights from previously siloed markets.
Nicholas Fusco, CEO of PM Insights, commented on the partnership, stating, “We’re not just aggregating data; we’re revealing the economic relationships and business model affinities that actually drive value creation – whether a company is public or private.” Patrick Shaddow, CEO of Syntax Data, added, “Investors need consistent classification and benchmarking across public and private markets. This partnership delivers that capability, giving institutional investors the analytical tools they’ve been missing for private company analysis.”
The combined solution aims to close a critical market gap by offering structured, transparent data for private company analysis, a segment historically lacking the standardization and depth available in public markets. RIAs and institutional asset managers can now access enhanced benchmarking capabilities, including sector-specific performance metrics, revenue multiples comparisons, and cross-market competitive intelligence.
Key capabilities of the integrated solution include a Unified Classification Framework for consistent business model classification across over 12,500 public companies and thousands of private companies, facilitating direct comparisons. It also provides Enhanced Valuation Intelligence through market-driven pricing data enriched with competitive positioning and sector dynamics, Comprehensive Benchmarking for performance comparisons across public and private peers, and Market Share Intelligence that reveals competitive positioning within industries and emerging themes.
Early adopters are utilizing the integrated platform to identify mispriced private opportunities, validate portfolio company valuations against competitive sets, and construct more efficient public-private allocation strategies. The partnership leverages Syntax’s decade of experience in in-depth classification and peer finding, along with PM Insights’ capture of $425 billion in institutional secondary market activity, to deliver insights previously unavailable to the broader investment community. The combined solution is available immediately to institutional investors and RIAs.
