vertical position of sidecap figure with respect to top aligned caption
EDIT: Solution revised to handle long captions. Place a vertical rule at the beginning of the caption:
\documentclass{article}
\usepackage[demo]{graphicx}
\usepackage{sidecap}
\sidecaptionvpos{figure}{t}
\begin{document}
\begin{SCfigure}
\includegraphics{graphs/dataset17b.pdf}
\caption{\protect\rule{0ex}{5ex}Foo bar Foo bar Foo bar Foo bar Foo bar Foo bar Foo bar }
\end{SCfigure}
\end{document}