[tlb]

VC firms don't have valuations. They raise funds and get paid a percentage of the funds under management (typically 2%/yr) for operating costs and a percentage of the overall gains they make (typically 20%).

As far as reliability of results: an insider's view (perhaps slightly biased) is usually more reliable than an outsider's view (who doesn't know anything more than what's publicly reported.)

[tzakrajs]

Thanks for making this clear, I edited my statement to be reputation based and not valuation since the judgement of the firm is important for their ability raise funds.