Performance Evaluation Research Of Jilin Province Venturecapital Leading Fund

Our venture capital leading fund can’t transplant foreign experience because of the enormous risk of venture capital industry and high-tech enterprises, the specific market situation and the difference of different regions’ economy. The adjustments of policies need to be made based on industries’ characteristics and market situation. When participating in market activities, the government failure may appear due to some reasons. The leading fund should be effectively appraised to make the policy effect yield well. Since the national biological industry venture capital fund of Jilin province was founded in August 11, 2010, the venture capital leading fund of Jilin province has been operated for 4 years. The effective performance evaluation can give the guidance of the next step.In view of this, firstly, I defined the concept of venture capital leading fund and performance evaluation, and then I reviewed the experience of domestic and foreign references. Finally, guiding by industrial organization theory, public finance and joint agency theory, I built up a system to evaluate the venture capital leading fund’ performance on the basis of the government revenue and expenditure performance evaluation theory. And then I used this system to evaluate the venture capital leading fund of Jilin province, offered suggestions aiming at increasing investment returns, policy effect and process performance. At last I concluded the limitation and discussed the research’s prospects.