Research On The Performance Evaluation System Of Government Venture Capital Funds

Government venture capital funds play a role in encouraging and guiding social capital investments in the seed and start-up stage of SME, providing a relatively stable source of funds for the SME to solve the difficulty in financing problems. This can not only promote the healthy development of the high-tech industry, but also realize the added value of the venture capital, thereby stimulating the rapid growth of the social economy.After years of exploration, the Chinese government venture capital funds have promoted the development of China’s capital market. In order to make the government venture capital funds more efficient, a comprehensive assessment of the performance evaluation of government venture capital funds must be established to test its investment direction, operational effectiveness, and regulate the entire operation. Therefore, there must be an establishment of a scientific and reasonable government guidance fund performance evaluation index system.Firstly, we select some successful cases of government venture capital funds, such as the U.S. SBIC plan, Israel YOZMA plan, Australian IIF program, domestic Shenzhen Venture Capital Guiding Fund and Shanghai Pudong Venture Capital Fund, to analysis the process and performance of management and operation evaluation index. On this basis, we then study on exploration of government guidance fund performance evaluation system.In the definition of the relevant factors affecting the government venture capital funds performance evaluation, we mainly analyze three aspects:the policy objectives, the effects of policies and management capabilities. We use analytical hierarchy weight calculation of relevant factors to determine the degree of the impact of these factors, as to set up a government venture capital funds performance evaluation system suited to China’s economic development. At the same time, we have given appropriate policy recommendations to solve certain problem on the performance evaluation of operation, and promote the healthy development of our government venture capital funds.