Since PitchBook's founding, our mission has always revolved around providing the most comprehensive and accurate data to our clients across the venture capital, private equity and M&A industries. Over the years, we've worked relentlessly to bring increased clarity within the private markets to the investors, advisors and companies in need of this information.
Now, I'm incredibly excited to announce the launch of PitchBook Benchmarks, our first standalone fund performance measurement tool built for the research and reporting needs of limited partners and general partners. Through this tool, detailed IRR, PME and cash multiple benchmarks for VC, PE, private debt and real asset fund vintages are freely available in both PDF and Excel formats. PitchBook clients have full transparency into the underlying funds that make up each benchmark, all of those individual funds' return histories, and even the investments made by those funds. Our mission has remained intact: provide the most reliable data, alongside an unprecedented level of transparency.
With the rapid growth in size and sophistication of the private markets has come the increased need for granularity and transparency within the benchmarks used to evaluate performance. Current benchmark offerings can't do this, due to contractual restrictions around the fund-level details of these benchmark providers. Since we are free of those restrictions, our clients and others from across the industry have repeatedly asked us to put together a fully transparent set of robust institutional benchmarks. Therefore, we decided to make that one of our 2017 initiatives and have spent the last year building out the methodology, getting feedback and putting together this comprehensive look at the VC and PE asset class returns.
These benchmarks also mark the launch of a new way to help our clients drive more value from all the data we have collected. Moving forward, we'll continue to invest in our data and product offerings, and we'll also look to add an enhanced level of intellectual property that sits on top of our datasets. Our goal is to help our users make sense of the data we publish, better understand the markets they operate within, and ultimately make the most-informed investment decisions. PitchBook Benchmarks serves as the first of many IP products to come, and we look forward to the opportunity to better serve our clients in this critical segment of their workflow.
I hope you find these new benchmarks informative and useful. If you have any questions, feedback or ideas on how to make them better, please don't hesitate to contact me or our analyst team at email@example.com.