Unicorn
A privately held startup valued at over $1 billion.
Once rare (hence the name), unicorns are startups that reach a billion-dollar valuation while still private. They represent the outsized outcomes venture investors chase, though the vast majority of startups never reach this scale.
Examples
A fintech becomes a unicorn after a large growth round. — Investors describe their hunt for the next unicorn.
How it relates to The Startup Foundry
Every unicorn started at the earliest stage. The Foundry backs UK pre-seed founders at the very beginning of that journey.