Harvard's 37 Private Unicorns Worth $152B+
Harvard's Pipeline of $1B+ Exits is Strong with 37 Startups' Valuations Exceeding $1B
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In previous research, we learned of Harvard’s 28 IPOs worth $279B that occurred over the last 5 years, from 2019-2023. But Harvard’s consistency in producing outliers (companies valued greater than $1B+ at exit), remains remarkable; new data shared in this posts indicates no signs of Harvard’s startup ecosystem slowing down anytime soon. Over the next few years, we should continue to see an impressive volume of Harvard founded IPOs.
Overview
28 Harvard-founded companies IPO’d over the last five years (2019–2023) with a staggering aggregate IPO valuation of $279B
38 Harvard-founded companies are currently valued greater than $1B in the private markets, with an aggregate valuation of $152B+
Harvard has an impressive pipeline of potential IPOs in coming years
HBS continues to lead Harvard Schools in the production of outliers
Harvard is one of the most successful startup ecosystems in the world. Its students and alumni have founded many of our world’s most transformative companies, not only shaping the global economy but also propelling society forward.
→ 86, the number of HBS-founded Unicorns, more than any other MBA program (Stanford follows with 49 Unicorns, according to research from Ilya S.)
→ 164, the total number of Unicorns founded by the Harvard system
Harvard’s entrepreneurial success has endured generations and new data shows no signs of slowing down. Below is a breakdown of the 37 companies valued at $1B+ in private markets:
From FinTech giants like Stripe, Upgrade, and Betterment to HealthTechs like Strava, Ro, and Whoop, Harvard founded companies continue to generate impressive enterprise value while making profound contributions to society.
Breakdown by School
55% of Harvard’s private unicorns were founded by Harvard Business School alumni, compared to 71% of the companies who IPO’d from 2019-2023 having a HBS alumni founder.
*There are overlaps in the school count; both alumni who attended Harvard Medical School also attended Harvard Business School. One founder attended both Harvard College and Harvard Business School.
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The views expressed herein are solely the views of the author(s) and are not necessarily the views of Phoenix Investment Club I LLC or any of its affiliates. They are not intended to provide, and should not be relied upon for, investment advice.