Applying the Multilevel Grey Model to Evaluate the VC Project

摘要

Currently, venture capital（VC) has got great attention as the small & medium-sized high-tech enterprises' incubator. To value the venture capital is the key step in searching for the suitable projects because it is difficult to evaluate the potential value of most invested projects when they are in the growing stage. Firstly the index system is established in this paper according to the characteristics of venture capital projects. Then a comprehensive evaluation method utilizing the index system is proposed based on the grey system theory, which integrates qualitative analysis and quantitative analysis. The result of empirical analysis indicates that the criteria given by the model can be used as the reference of investment decision making since the valuation results can satisfy the requirement of investors.