2015 was a tricky year to buy into IPOs of venture capital-backed companies.
Over half of the 79 VC-backed companies that went public on U.S. exchanges this year were trading below their IPO price as of market close Thursday, according to a Fortune analysis.
At the same time, however, the winners often were stronger than the losers were weak — with the average share price rising 5.27% from IPO. If you were to add up all of the offering prices and all of the Thursday closing prices, the gain becomes a more modest 1.93%.
For context, the S&P 500 was down 1.44% for the year through market close yesterday, while the NASDAQ composite was up 5.99%. All indices got rocked on Friday, with the Dow shedding 1.78% and the NASDAQ off 2.23%.
Below is the VC-backed IPO data: