Looking for a professional report/study that evaluates private company
valuations (when sold) if they never take any outside capital and
private company valuations (when sold) if they take equity capital
from VCs or private equity firms.  Prefer a report that uses
technology companies - is fairly recent (last 5 -10 years) and has a
conclusion (not just a series of data).

Have you checked the Wharton reseach website at
http://knowledge.wharton.upenn.edu ? I remember seeing this report
there which I believe was written by Professor Metrics (sp?)