| Venture capital (VC) is a new investment style comparing with other traditional finance investment styles. In china today, it is acting as a role of 'propeller' in the process of industrialization of high and new technology. However VC has developed in China for less than two decades, there are some problems and ticklers in practical field of VC. Among these questions, some are related with the activity of VC projects evaluation including fuzziness of the decision making process, timeworn evaluation methods, and low investment return. This paper focuses on the content of evaluation of VC projects which can be subdivided three parts -evaluation indices system, evaluation methods system and the projects pricing model. Author uses research document analysis method and real VC projects cases investigation to analyze some existing questions. At the base of the research and analysis above, author brings up some advices of policy about VC projects evaluation practice. The content of this paper is arranged as below:In the first chapter, the paper illuminates the characteristics of investment of hi-tech projects the definition, characteristics and operation model of VC and the function of VC in the process of high and new technology industrialization. In the end, author points out the theme of the paper.The second chapter is the critical literature review about evaluation indices system, evaluation methods system and the projects pricing model of VC projects. These three parts interact and interrelate one another. They compose the basic content of VC projects evaluation together.In the third chapter, the author firstly point out the existing deficiency of the present research and analyze the practical operation model of VC according to the corporation strategy management theory. Secondly, the author sets forth the total analysis frame of the paper. Then the author discusses some viewpoint about content of VC projects evaluation. Concrete conclusions include:I On the basis of research on the investment strategy of VC company and the aims of VC company , a strategic room choosing model of VC projects is brought up.II Thought the method of research documents analysis , a core evaluation index system is brought up. Then, the author carries out a empirical research on the evaluation effect of core evaluation index and the staged usage of evaluation indices.IIIAfter classifying the evaluation methods and generalizing the characteristics of the typical evaluation methods of VC projects. The author carries out a conjoined research between evaluation index and evaluation methods of VC projects .At the end of this chapter, author brings up some advices about combined usage tactics of multi evaluation methods.The last chapter summarizes the content above and prospects the future of the research on the VC projects evaluation.
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