The AI Opportunity
The biggest AI companies are being built right now - and the majority of investor value creation is happening while these companies are still private.1
Why AI
We believe we are early in an AI Supercycle; high-growth private AI companies are demonstrating unprecedented growth in new emerging segments.2
We believe enterprise AI adoption is still only a small percentage of global businesses today, implying a potentially large, yet to be penetrated addressable market.3
Segments are demonstrating winner-take-most dynamics, concentrating capital in category leaders and/or tech challengers.4
Our view is that AI will proliferate across many more sectors (i.e. communication, transportation, manufacturing, mining and health care).
e.g. Moderna AI model Maestro assisted in scaling peer-patient assessment leading to potential breakthrough in mRNA cancer vaccine for melanoma5.
Private is outperforming the public markets
Delta-G see a systemic shift occurring in equity capital markets. The world’s most valuable emerging companies are private and accruing exponential value relative to public peers.
Companies are staying private longer. The average time to IPO 14 years in 2024 (5-6 years historically).6
According to Pitchbook the number of private unicorns globally is now 1,590 as of February 2026 (up from 600 in 2020).7
Forge Global report that the Private Magnificent 7 - SpaceX, Open-AI, Anthropic, Databricks, Stripe, xAI and Anduril - represent 43% of US unicorn valuations and comprises the most funded and best performing companies.8
The Private Magnificent 7 has generated a 173% return over the last 12 months to August 2026, outperforming the Public Magnificent 7 by ~153 percentage points.8
The Five-Filter Framework
The Five-Filter Framework
Register your interest
Delta-G provides wholesale investors a structured, high-conviction portfolio of late stage AI companies.
1. Based on Forge Global Private Market Update, December 2025; Investment Manager’s analysis of the top 20 technology companies by market capitalisation as at April 2026; Hamilton Lane 2026 Market Overview
2. Delta-G analysis. Company information is sourced from publicly available sources including company websites, PitchBook, Reuters, Bloomberg, TechCrunch and Morningstar, supplemented by Delta-G’s own analysis. Information has not been independently verified and may change.
3. PitchBook and Delta-G analysis, April 2026 (0.4% of all global businesses using AI); McKinsey & Company, ‘Global Private Markets Report 2026’
4. Nasdaq Private Market, ‘Secondary Scene 2026 Annual Report’
5. https://www.davidborish.com/post/the-algorithm-inside-moderna-s-cancer-vaccine-and-the-pharma-ai-race-it-reframes
6. Jay R. Ritter, ‘Initial Public Offerings: Updated Statistics,’ University of Florida, April 2026
7. PitchBook Unicorn Tracker — 1,590 active unicorns as at February 2026; Hurun Research Institute, ‘Global Unicorn Index 2025,’ June 2025 — 1,523 unicorns as at January 2025
8. Forge Global, ‘The Private Magnificent 7,’ live performance data as at September 2026 https://forgeglobal.com/private-magnificent-7/. Private Magnificent 7 data from Forge Data (Forge Price™ proprietary indicative pricing). Public Magnificent 7 data from NASDAQ. Inception date: 31 August 2023. Returns are indicative only and based on Forge’s proprietary price estimates, which are not guaranteed to reflect actual transaction prices. Past performance is not a reliable indicator of future returns.