MSCI Venture-Backed Private Company Benchmark Statement

This document is a benchmark statement for the MSCI venture-backed private company index family, detailing the objectives, methodologies, and governance of the indexes. The primary aim of the indexes is to accurately measure the performance of investment opportunities within the venture-backed private company sector. It outlines the distinction between 'evergreen series' indexes, which undergo regular rebalancing, and 'vintage series' indexes, which maintain fixed baskets of securities. The methodology section describes the transparent rules-based approach used for index construction and maintenance, emphasizing representativeness, replicability, and efficiency. Governance is overseen by the Index Policy Committee and the Equity Index Committee, which handle content matters and ensure alignment with design objectives. The document also covers index calculation, correction protocols for errors, and the consultation process for material changes to methodologies, ensuring that feedback from market participants is incorporated into decision-making.