Coverage Universe
A coverage universe is the defined set of entities you intend to cover—the denominator for coverage measurement.
Allocator relevance: Prevents misleading coverage claims and enables consistent reporting of dataset strength by segment.
Expanded Definition
A universe might be defined by allocator type, geography, AUM band, or mandate (e.g., “US SFOs above $250M,” “European pension funds,” or “institutional LPs globally”). Universe definitions should be explicit and versioned, because scope changes can make coverage metrics incomparable over time.
For Altss, clear universes support honest positioning and allow customers to evaluate whether coverage matches their workflow.
How It Works in Practice
Teams publish a universe definition, map entity inclusion criteria, and measure coverage rate against it. As the market map evolves, the universe can be expanded, but changes should be documented to preserve comparability.
Decision Authority and Governance
Universe governance determines what is in-scope and how coverage is claimed publicly. Without governance, product claims become unstable and hard to trust.
Common Misconceptions
- “Universe” can remain implicit and still be meaningful.
- One universe fits all customer use cases.
- Expanding scope always improves perceived coverage.
Key Takeaways
- Universe definition is the foundation of coverage metrics.
- Segment-specific universes often matter most.
- Document changes so metrics remain credible.