Study On The Selection And Evaluation Of Venture Investment Project

The first quarter of 2017 China venture capital market a total of 894 cases of investment,to disclose the amount of investment 809 cases,investment transactions involving a total of 32 billion 165 million yuan.As a new financing mechanism,venture capital investment in China started late,but the good momentum of development,its outstanding characteristic is high growth,high risk,high return.Therefore,the establishment of entrepreneurial project selection and evaluation model is the premise to make investment decisions,investors and managers strive in the limited manpower,material resources,time and the situation of information asymmetry,screening for the right evaluation of the project.This point will C venture capital institutions from the practice,research and analysis on the selection and evaluation of venture capital project in our country.Firstly,through the study of literature review,the development of venture capital at home and abroad from the definition,characteristics,investment path,four aspects of evaluation methods are summarized,the existing there is a lack of research,from the angle of theory and actual market related to the specific project selection and analysis problems.Secondly,introduces the business model canvas and project valuation theory of free cash flow,and provides a theoretical basis for this thesis.Furthermore,according to the company's own of the venture capital project screening.In the process of analysis,combined with the actual case,the principle and logic followed by research project selection,in the industry environment,market potential,the founding team,the return on investment in four dimensions to establish and choose the canvas,free cash flow model to assess the value of the enterprise,to form a complete evaluation model of the project,with the scientific judgment of investment decision in this paper.The case is the main object in the game industry distribution business growth phase of the project,due to the industry head enterprise market share is high,small and medium-sized enterprises in financing more difficult,this paper studies for the investor to study on this kind of project in the needle,offers the choice of logical science.At the same time,the assessment of data provides a qualitative basis for the selection of model,promote the correctness of the decision-making of venture capital.Finally,according to the conclusion of practice and research,put forward the investment path of three cautious suggestions,expect constant and promote the healthy development of venture capital market.