Valuation In The Venture Capital Market

The past 20 years is the period which saw the rapid development of global technology and economy, we deeply feel the pulse of knowledge economy-the main melody of the development of the world. Facing the challenge of knowledge economy, governments of all countries have taken relevant measures so as to play an important role in the global economy of the future. To develop high-tech industry, it's imperative to establish a R&D system of high-tech and a mechanism for venture investment, and the development of high-tech industry should also be combined with modern financial instruments. During recent years, high-tech industry and venture investment have become the focus point of the world.The development of high-tech industry needs a kind of new capital environment which is the venture capital market. And the development of venture capital market needs to deeply research some special policy and law environments. As a financial medium, venture capital plays an important role in the finance and management of high-tech enterprises. The combination of capital and technology makes contributes to the growth of the companies, furthermore to the whole economy and society.This thesis firstly introduces the venture capital market and reviews the traditional theory of value evaluation. According to the specialty of venture capital market, the author modifies the traditional value evaluation methods so as to fit into the evaluation of venture capital enterprises. Some new evaluation methods also are introduced from foreign researches. Then a comprehensive value evaluation system for venture capital enterprises has been established. At last the author also indicates which evaluation method fits in with different status of the venture capital enterprises.