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Data Analysis and Knowledge Discovery  2019, Vol. 3 Issue (12): 84-92    DOI: 10.11925/infotech.2096-3467.2019.0713
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Investing Behaviors of Core Communities in Venture Capital Network
Pingnan Ruan1,Qianying Wang1,Juan Yang1(),Yunfeng Wei2
1 The College of Economics and Management, Beijing University of Technology, Beijing 100124, China
2 The College of Metropolitan Transportation, Beijing University of Technology, Beijing 100124, China
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[Objective] This paper analyzes the investing behaviors of core communities, aiming to help venture capital institutions choose syndicate partners.[Methods] First, we collected events of venture capital investments in China from 2006 to 2017. Then, we used R to extract syndicate matrix and constructed the venture capital network. Finally, we identified the needed communities with Louvain algorithm and the core community structure coefficient. [Results] Various core communities were different in investing industries, areas and stages. Members of the core community increasingly invested in information services and cultural education industries from the developed regions at the initial stage. [Limitations] The proposed network was built according to the syndication, which did include the relationship between leading and following investments. [Conclusions] Identifying the core communities will help us understand the changing behaviors of the community’s investments.

Key wordsVenture Capital Network      Community Division      Core Community Identification      Investment Behavior     
Received: 19 June 2019      Published: 25 December 2019
ZTFLH:  F830  
Corresponding Authors: Juan Yang     E-mail:

Cite this article:

Pingnan Ruan,Qianying Wang,Juan Yang,Yunfeng Wei. Investing Behaviors of Core Communities in Venture Capital Network. Data Analysis and Knowledge Discovery, 2019, 3(12): 84-92.

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社团 节点 平均度 平均
444 1 238 6 851 13.183 33.759 0.729 2.958
329 1 043 4 683 8.816 20.057 0.674 3.105
433 638 1 807 6.866 12.818 0.810 3.250
投资行业 投资地域 投资阶段
初创期43.89%, 扩张期33.42%, 种子期11.77%, 成熟期10.07%
扩张期52.67%, 初创期39.81%, 成熟期5.43%, 种子期2.02%
成熟期43.71%, 扩张期37.47%, 初创期16.83%, 种子期1.59%
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