The Study Of Staged Venture Capital Investments

Venture capital investments are more different from other investments. Venture capitalists always devote themselves to intervening the management of companies and promoting its development. During the whole process of investment, capital is infused into the companies in period. This paper focused on the monitoring role of staged venture capital investment. It has four chapters as follows:Chapter 1. The reason and the function of staged investment by analyzing the role of asymmetric information between the principal and the agent.Chapter 2. The structure of staged investment. It illustrates the main factors affecting the structure and the main content of its contract.Chapter 3. The implement using to help venture capitalists make the decision during the process of staged investment. That is, the evaluating models and price models.Chapter 4. Summary. The staged infusions of venture capital take a more important role to the success of the investments. It make the capitalists to monitor and control the companies' developing process, cut down the agency costs, refrain the companies' managers from moral hazard. At the same time, venture capitalists can revise their adverse selection and evaluate the companies again.