Research On Venture Capital Project Evaluation And Veture Management

Venture capital constitutes the toughest，most important loop of high-tech industrychain，acting as an engine that finishes the final part of the industrialization of high-techtransformation. A well-developed venture capital system is an important secure tohigh-tech industry. The high risks caused by technology，personnel，and asymmetry ofinformation in the process of technology innovation and transformation may lead tohigher failure rate of venture capital. It can’t be overemphasized to conduct researches onthe risk management for venture capital management. The article not only theoreticallyelaborates the organizational forms，risk characters, portfolio evaluation methods andmodels，exit mechanism and operating mechanism， and substantiates with large amountof cases，but also explores all kinds of risks confronted with venture capital investmentand elicits risk control and management counter-measures.According to the author of more than ten years, the practice of venture capital toexplore, through theoretical analysis and empirical case study of a combination ofmethods, made a systematic study of venture capital, especially venture capital projectsin various stages of assessment and risk management conducted a more in-depthexplored. The authors used invested in some of the cases, validate the various stages ofthe establishment of evaluation index system and evaluation method introduced in theoperability and effectiveness, to improve the success rate of venture capital andeffectively control the risks involved in venture capital has done a some of the work, butalso for others to engage in venture capital as a reference. Some of the creating points ofthe paper include：（1）According to venture capital theory, combined with the author many years ofventure capital experience to design a set of broader coverage, operability strong venturecapital project evaluation index system and using principal component analysis carriedout for its reduction.（2）An improved gray associated with the introduction of France came in to makeventure investment project evaluation methods and models enrich the practice of projectevaluation also provides a powerful tool.（3）The use of supply chain thinking to design a set of workable strong venturecapital project implementation process evaluation and post-evaluation index system, andusing principal component analysis carried out for its reduction, and use the focal pointof the triangle-based whitening weight function evaluation model of the projectimplementation process and implementation of an assessment.（4）The author summarizes China’s overall venture capital and practical experiencein a theoretical way，and puts forward methods on how to recognize the pre-alarmingsignal of risk and count measures of management and control，which is meaningful toimprove the success rate of venture capital investment.