Report

2026 Report: Liquidation Preference Statistics in French Tech

A data-driven analysis to help founders and investors better understand the economic impact of these clauses and make more informed equity decisions.

Inside this report

  • An analysis of the practices observed in French Tech in 2025
  • A clear explanation of liquidation preference mechanisms
  • The clauses that have become standard and those that remain marginal
  • How these practices have evolved compared to the previous year
  • Quantified scenarios to understand the actual economic impact at exit
  • A focus on the factors that most influence the value of common shares
Cover of Sovalue’s 2026 report on liquidation preference statistics in French Tech

What this report will help you understand

  • Read a liquidation preference clause within a real economic framework
  • Identify what is market standard and what deviates significantly from it
  • Understand the actual impact of certain often-underestimated parameters
  • Anticipate economic effects across various exit scenarios
  • Position your equity choices within a real market context

Liquidation preference clauses structure nearly all fundraising rounds in French Tech and determine the order of value distribution at exit. Yet they are rarely analyzed as a whole, which leads to equity decisions made without clear benchmarks.

At Sovalue, we have completed over 250 business valuations since 2023, giving us direct insight into shareholder agreements and their concrete impact. This report shows current practices and gives founders and investors the keys to understand these mechanisms.

  • Based on 250+ valuations
  • French Tech market
  • Analysis by valuation experts
  • Scenarios to measure the real impact of the clauses

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