[lkbm]

The article actually says "fewer than 1%", but they don't include the "fewer" as part of the link text, which seems like a poor choice.

The linked article reports the actual value in their cohort to be 0.91%[0], which is surprisingly close to 1%.

For what it's worth, this cohort is of companies that received their initial seed in 2008–2010. Obviously it takes a while for a company to hit $!Bn valuation, but the landscape has changed a fair bit in 7-9 years, so the current number may be a lot lower (or a lot higher).

[0] https://www.cbinsights.com/research/venture-capital-funnel-2...