Risk Assessment Study Of Venture Capital Projects

Since the advent of the first VC company-US development study in 1946,the venture capital (VC) has already) experienced more than 60 years:During this period,the venture capital rolls through the American high tech industry by the irresistible potential,stimulating the economic growth greatly.At the same time,many famous company were made,for example,Microsoft, Intel and so on.The huge promotion effect of the VC to the economy has raised lots of concerns from many countries.Many countries began to develop VC positively to lead the entire national economy.In china,the economic growth has been maintaining the quick rate of rise since the reform and open policy.But this kind of growth depends upon the traditional investment growth to a great extent.The added Value which the intellectual property rights bring is insufficient by far.Under this circumstance,the developmerit of VC is our choice.After the setback in earlier period, venture capital development increases quickly in recent years.The overseas large-scale venture capital fund rapidly lands China in abundance,like Sequoia Capital,IDG,Ignition Partners, Capital Today,Softbank and so on.The domestic venture capital also obtained the gradual development.Many enterprises also obtained the swift and violent development such as Alibaba, Sina and so on.The prosperousness.of our capital market in 2006 and 2007 speeded up the development of venture capital.This is favorable for the combing of knowledge and capital to Promote our economic.But in this process,the blindness in investment also appeared,particularly to the domestic venture capital.So the venture capital must carry on the scientific appraisal before they invest,especially the.evaluation of the risk.This paper takes the risk of venture capital projects as the research object.It analyzes the factors which affect the investment comprehensively.It also establishes the corresponding assessment indicator system.In the end,it gives the specific analysis to an actual project.In this paper,firstly it introduces the basic theory of the venture capital,including the concept, characteristic,operation process and effect of the venture capital.Then it studies the methods of risk assessment.It introduces the method of AHP and fuzzy evaluation and the step of using them. In the third chapter it analyzes risk factors affecting venture capital,including entrepreneurs, technology,market,running and environment.Then on the grounds of the risk factors it establishes the assessment indicator system.The last chapter uses the methods referred in the paper to do empirical study according to an actual project.There are both theory research and empirical analysis in this paper.It adopts both qualitative analysis and quantitative analysis to analyze the financing risk comprehensively and systematically and evaluate it scientifically.It offers some reference to the decision of venture capital...