50% of startups return >1x, 10% >10x (with disclaimers)

key graph

disclaimers:

• returning 1.1x is not a success imo. conventional wisdom of 90% of startups fail seems right
• this is already selected for startups angels invested in, which is a slightly better pool than all startups
• I wonder if this has changed in the last 15 years, maybe. could see both directions
• angels usually get preferred, not common stock, so better return profiles than founders/employees