After about a year-and-a-half without liquidity prospects, investors and employees of some of the largest unicorns may see a glimpse of light at the end of the tunnel.

Last week's IPO filings of Instacart and marketing automation company Klaviyo mean that once they debut, various types of investment activity—from new late-stage rounds and secondaries trading to other public offerings—are likely to see a pickup. That is in large part because there will finally be more clarity about what private companies are worth. READ MORE