Study On Portfolio Investment In Venture Capital

The 21st century is the era of knowledge-driven economy, in which the development of high-new technology changes with each passing day, and innovation in the field of the finance is going on constantly. The combination of science and technology with the finance is promoted by venture capital efficiently, which liberates the enormous productive forces, and changes the entire world appearance strongly. The study on venture capital in our country mostly lay particular stress on the issue on the macroscopic aspect, so theportfolio investment -- an important microscopic problemin venture capital industry -- was obviously not bestudied enough and deeply.However, the high risk in venture capital intrinsically makes it a problem in need of solution on how to obtain the higher income and reduce the investment risk. For the portfolio investment as an effective tactics being taken against the risk in venture capital, we should probe into its inherent structure, content, law in order to apply it better, which embodies the important value in theory and the significance in practiceAfter the portfolio investment in the venture capital is be seen as the research object in this text at the foundation of the existing theory of venture capital and modern portfolio investment being analyzed and summarized, the theory frame of portfolio investment is tried hard to be structured from the key elements, theoretical analysis, decision-model, portfolio management etc. First of all, because venture enterprise is taken as the target by venturecapital firm, the industry which venture enterprise is in, the stage which venture enterprise belongs to , and the region where venture enterprise lives in, are looked as the essential factors; Considering the right attribute of the venture capital, the venture capital company also portfolios the venture capital in order to reduce the risk simultaneously. Secondly, the validity of portfolio investment is analyzed from the micro foundation in terms of theory, and its advantage is studied combining the analysis of cases. Thirdly, according to the concrete conditions of project groups, adjustment and optimization of project groups are settled better through the portfolio decision-model with single stage and the portfolio decision-model with many stages. Finally, from the angle of management, the content, goal, method of portfolio investment management is discussed.Through the systematic analysis of portfolio investment theory, I expect to get the result that valuable ideas can be offered after I give the ordinary introductory remarks, make the research on portfolio investment theory develop as good as possible, seek several certain rules among it, and provide the theoretical direction with higher value for venture capital industry, especially for the practice of venture capital in our country, and play an huge impetus to the development of the economy, culture, system of our country.