The Research On Evaluation Of Venture Capital Projects Based On Fuzzy Comprehensive Method

Venture Capital is an equity investment, the investment objectives are Small-Medium-Size Enterprise with huge growth potential. The most obvious character of Venture Capital is high risk and high return, so the evaluation of Venture Capital project needs more scientificalness.Nowadays China's researches on evaluation of Venture Capital project cite many mathematical models, such as Fuzzy Comprehensive Method. But the application of models still has defects, include the choice of indication and the distribution of weight, another defect is the establishment of Membership Function. In this paper, Fuzzy Comprehensive Method is used to evaluate Venture Capital project, and the three defects are regarded as the starting point for research. The emphasis of this paper is improving Membership Function that can make this model better.After researching some establishments of Membership Function, this paper suggest establish Membership Function by Statistics. Because Membership Functions in different industry are unalike, and they also influence by macroeconomic, so the establishment of Membership Functions must depend on the industry development. This paper use financial indicators of listed companies as statistical samples, and find out Membership Function in different interval. Then, establish another Membership Function by Zadeh Formula. After contrasting these two function, we can find the first one reflect the fact better.