Fenwick publishes a quarterly survey of market terms for VC rounds. Their Q3 2018 report suggests ~10% of rounds are being done with a liquid pref >1x, and tho

Fenwick publishes a quarterly survey of market terms for VC rounds. Their Q3 2018 report suggests ~10% of rounds are being done with a liquid pref >1x, and those terms are almost always between 1-2x. Given that these stats are for series A-E rounds, I would expect the liquid pref in these mega rounds to be very close to 1x if not 1x exactly. Source: https://www.fenwick.com/FenwickDocuments/Silicon-Valley-Venture-Capital-Survey-Third-Quarter-2018.pdf https://www.fenwick.com/FenwickDocuments/Silicon-Valley-Vent...