KVL equivalent versions
The algebraic sum of the voltage drops is zero.
  The algebraic sum of the voltage rises is zero.
  


For these to work, you need to be considering each branch voltage as a signed value, measure them all in the same direction around the loop (clockwise or anti-clockwise), and sum all of them together.

If you take just the "voltage drops" that are actually drops, it can't possibly sum to zero. The sum of a bunch of positive numbers can never be zero.

These two versions are equal because if the sum of the drops is \$\sum_n{v_n}\$, then the sum of the rises is \$\sum_n{-v_n}\$ and -0 is equal to 0.


  
  The algebraic sum of the voltage drops equals the algebraic sum of the voltage rises.
  


For this to work, you are splitting up branches according to the sign of the branch voltage and considering the "drops" and "rises" separately.

You have 

\$\sum_j{v_j} = -\sum_k{v_k}\$,

where all the vj are positive and all the vk are negative.