I suspect a better measure of valuation would incorporate the investment amount. If a VC firm invests $X at a valuation of $Y, then it conveys a lot of informat

I suspect a better measure of valuation would incorporate the investment amount. If a VC firm invests $X at a valuation of $Y, then it conveys a lot of information (on the beliefs of the VC firm) if X is close to Y, but decreasing information as X decreases.