Venture Capital Evaluation Model And Application Research Of Start-up Period In SaaS Software Industry In China

The development of China's venture capital industry started later than the developed countries,and the related research is relatively weak.However,due to the national policy such as "double drive" in recent years,the activity of VC market continues to increase,the size is expanding,and the research is also in development;at the same time,the capital from VC funds continues to flow into the high-tech industry,especially the field of Internet and information technology.Nevertheless,a variety of hot fields appeared with flooded irrational factors in the market.We need evaluation model to help investors analyze the project.Through the in-depth study of past research results,this paper tries to divide the VC evaluation process into subsectors of industry and focused period,and then establish the evaluation model for SaaS industry in china.The evaluation index consists of six categories with thirty-four items,and the method is the analytic hierarchy process(AHP).Data from interviews is used to calculate the weight of the evaluation indexes.There are two conclusions: first of all,the product factor is valued most in SaaS software industry;secondly,the features of SaaS should be appropriate attention,as its related indexes occupy a certain proportion in the index weight.At the same time,this paper uses 20 SaaS software industry investment cases completed A-round of financing to analysis the model,and the analysis goes back to the start-up period,combining theory and practice,to verify the applicability of the model.