The valuations of technology and life sciences companies were stable in the third quarter, according to the latest numbers from Fenwick & West LLP's quarterly venture capital survey. According to Fenwick, its study--based on the venture financings for 107 technology and life science companies headquartered in Silicon Valley--found that up rounds exceeded down rounds, 52 percent to 30 percent. Around 18 percent of the deal valuations were flat. That was pretty close to the second quarter numbers from Fenwick, where 55 percent of deals were up rounds, and 27 percent were down rounds, with 18 percent flat. Fenwick said it found that internet/digital media deals were seeing the best valuations, with that industry "clearly out performing" other industries from a valuation perspective.