Interest data from VCExperts upon surveying 127 VC or PE firms.

What valuation method(s) does your firm use when evaluating initial investment (frequency distribution):

Industry	Comparable Transac-tions	Compa-rable Multiples	Dis-counted Cash Flows	Net Assets of Invest-ment Company	Industry Valuation Bench-marks	Adju-sted Present Value	Option Valuation Approach	Other
Software	45	36	32	9	1	10	3	0
Other	33	32	27	14	5	13	9	1
Business Products and Services	23	29	13	21	6	4	5	3
Industrial / Energy	10	11	3	9	2	1	3	0
Semiconductors	9	3	8	2	9	4	0	4
Telecommunications	11	7	3	8	3	2	1	1
Biotechnology	15	3	8	4	1	2	0	2
Healthcare Services	8	8	6	4	1	0	3	0
Consumer Products and Services	5	7	5	4	2	0	3	2
Medical Devices and Equipment	9	2	1	4	6	0	3	1
Financial Services	6	5	3	4	3	0	1	2
IT Services	9	9	1	3	1	0	1	0
Electronics / Instrumentation	5	5	0	5	3	1	2	0
Networking and Equipment	6	4	2	2	2	0	2	2
(blank)	4	2	2	2	0	2	2	0
Media and Entertainment	6	2	3	0	0	2	0	0
Retailing / Distribution	2	0	2	2	0	0	2	0

If we analyze the result in terms of industry, it is found that "Comparable Transactions" is also the most popular choice among different industries. "Comparable Multiples" comes as the second most popular method.