Development Of Venture Capital's Mode Of Operation

As a new financial tool, venture capital is influential in the world for it's highrisk and high return, it's illustrious role in accelerating the development of high-tech industry and in promoting the growth of economy. As a developing county,China has no choice but to make strenuous effort to expand it's high-tech industry,it brooks no delay for China to accelerate the growth of venture capital withdrawing on the experience of other countries and standing by the objective realityof contrary. The thesis firstly introduces the features of venture capital, gives a cleardefinition to it, and the developing course of venture capital is analyzedsystematically. Subsequently, illuminating remarks are drawn from research on thedeveloping experience of venture capital in Japan, Europe, the United States,Taiwan and the investment action of foreign venture capital organization. Afterthese, emphasis is laid on the choice of venture capital organization's operatingmodel and investing model of venture capital suppliers. Then the thesis goesdeeply into the analysis of factors that hinder the development of venture capital,focus it's attention on the tax environment and stock market environment, and putsforward some countermeasures. At last, combining with the carrying out ofcountry's western developing strategy and the reality of small and middleenterprises in Xi'an, the practice of venture capital in Xi'an is analyzed fromVenture capital company, the international incubator and enterprises respectively,and some advice on how to develop venture capital rapidly is presented.According to the characteristics of investment to high-tech item, the venturecapital evaluation model is established with the application of fuzzy programmingand AHP method. This model can be used to settle the problem of how to evaluatethe item before investing, it accords well with the actual operating situation ofventure capital, and has a certain reference value.