T. Rowe Price
Mutual-fund giant pricing late-stage private rounds.
Crossover & Growth Co-InvestorsFirmUnited States & global
Target market
Pre-IPO companies suitable for mutual-fund portfolios
Geography
United States & global
Overview
T. Rowe Price, the Baltimore asset manager founded in 1937 with roughly $1.6 trillion under management, invests in late-stage private companies through its growth mutual funds — it led Rivian's pre-IPO financing among many crossover positions. Because its funds publish valuations, T. Rowe's marks on private holdings are watched industry-wide as a de facto pricing signal for late-stage paper.
Key facts
- Founded 1937; roughly $1.6T in assets under management
- Led Rivian's pre-IPO financing
- Its published marks on private holdings serve as an industry pricing signal