What is Private Market Index (PMI)?
PMI turns aggregated and anonymized Datasite deal-room activity into sector-level market signals, helping you see where private-market M&A activity is heating up, cooling down, or holding steady before that activity becomes broadly visible in public sources such as financial news, competitor datasets, and banker conversations.
With PMI, you can:
Spot deal motion before it's public
See which sectors are showing active deal motion before that activity appears in public sources, announced transactions, or competitor datasets.
Match signals to your strategy
Compare and identify markets by the type of signal that matters most to your workflow, including where engagement is broadening, diligence is deepening, or activity is accelerating.
Focus effort where it matters
Decide where to focus outreach, coverage, process participation, client conversations, or internal market monitoring efforts.
Time the conversation with confidence
Support market-timing discussions with clients by showing whether a sector is heating up, cooling, or showing deeper diligence activity.
Cut the guesswork
Reduce reliance on banker conversations, press coverage, and fragmented private market intelligence tools.
Frame companies by their markets
Contextualize company research with the broader activity level in that company’s market.
How to use PMI:
1. Open the Private Market Index page
Navigate to the Market Index section on the left sidebar of Grata. When accessing the feature for the first time, you will only see the market average. On subsequent uses, the page will show your most recent search.
2. Select a signal
PMI includes three core signals:
Deal Activity Score: The level of active deal-room activity within a sector
Buyer Activity Score: The breadth of buyer participation across active deal rooms
Buyer Commitment Score: The depth of buyer engagement within those processes
3. Apply filters to hone your search
Filter results by:
Value vs. Growth
Geographic location (e.g., United States, Europe, Latin America)
Time segment (e.g., 30 Days, 60 Days, YTD)
4. Select industries to evaluate
In the "Browse Industries" section, check off industries you would like to evaluate.
Colored trendlines represent selected industries. The dotted trendline represents the market average. Hovering over a trendline will provide you with more details about the selected signal at a specific point in time.
In the below example, the Software Publishers industry had 1,057 deal rooms on August 28, 2026, a 6.1% decrease compared to one year prior. Combined with a 6.4% increase in the number of buyers, one can conclude that this is a competitive market.
Selecting multiple industries will generate a Cross Market Summary - an AI-powered, comparative summary of deal activity, buyer activity, and buyer commitment across all selected markets.
5. Review a detailed analysis of market changes
The "Market Insight" column displays a preview of an in-depth analysis of the selected market. Clicking on the preview will display:
A summary of each signal
The full analysis, including context from trusted research sources
These sources are indicated in the bottom left corner of the popup
6. Explore relevant companies
Selecting the icon in the "Explore" column will generate a pre-filtered company search so that you can immediately start reviewing companies within your market of interest.
Private Market Index FAQ
Where does PMI data come from? Is it based on public deal data?
No, PMI is built entirely from aggregate, industry anonymized virtual data-room activity across deal room creation, buyer participation and buyer engagement. No public data is used for scoring.
Is this at the individual company or deal level?
No, PMI is industry level only. It returns scores and trends for NAICS industries. Named companies, deals or buyers are invisible.
How often does the data update?
PMI data is refreshed every 24-48 hours.
How far back does the data go?
Deal and buyer activity history starts at the beginning of 2023. Buyer commitment begins in October 2025.
Which packages include access to PMI?
Scale and Alpha packages.
Can I use PMI with the MCP?
Yes! PMI is integrated with the Grata MCP and can be accessed with the get_private_market_indices tool.