Identify fundraising indices from venture capitalists by Startup Companies with Mixed Approach

The research has been performed to the aim of identification and introduction of fundraising indices from venture capitalists to Iranian startups. This applied research in terms of objective is a mixed method of research (quantitative-qualitative) as far as its method is concerned. So, primarily and in qualitative section of the research, data required have been collected through meta-synthesis via searching among reliable articles published for the period of 2000-2021 and selecting them. Data available have been selected through snowball sampling and interviews made with informed experts; then, they have been analyzed in MAXQDA software package. Then, indices of startups’ risk taking fundraising have been classified in three categories, 20 concepts and 50 initial codes.Accordingly,conceptual research model has been designed. Validity of qualitative section and its reliability have been confirmed respectively through Shannon entropy and Kappa coefficient. Then, in quantitative section and to validate conceptual model, researcher-made questionnaire has been formulated and distributed among 76 financial managers being active in Iranian funds and risk taking investment companies for the period of 2020-2021. Validity of quantitative section has been confirmed via convergent and divergent validity; and, its reliability has been confirmed through composite alpha coefficient. To analyze research hypotheses, confirmatory factor analysis has been applied in SmartPLS. Based on the qualitative research findings, fundraising indices have been identified and classified in three dimensions of financial performance,product,and customer indicator respectively with 8, 5, and 7 concepts. Quantitative results also are indicative of effectiveness of each of the three identified indicators on fundraising .