The Typology of the Venture capital’s viewpoints for evaluation of fintech startups in the early stage of investment in Iran

Document Type : Research Paper


1 PHD student of Management of Entrepreneurship, Faculty of Management and Economics, Science & Research branch, Islamic Azad university,Tehran,Iran

2 Faculty memebr of University of Tehran

3 Assistant professor, Faculty of Management and Economics, Science & Research branch, Islamic Azad University, Tehran, Iran

4 Associate Professor of Higher Education Management Faculty Member of Faculty of Management and Economics, Islamic Azad University, Science and Research Branch of Tehran.


In the last decade, we have encountered a new type of start-up companies which have used high digital technologies to provide innovative services in the financial industry. The purpose of this reseach was to answer this question what are the point of views of venture capitalists when making decisions in the first stage of investing in startups in Iran? This research is applied in terms of purpose, qualitative in terms of data collection. In-depth interview and observation data were analyzed and interpreted through the grounded theory methodology. For collecting data, 17 venture capital managers in the field of financial technology services who had at least once a history of investing in start-ups, targeted as a statistical population.The results showed that there were two main types, including investors with a strategic perspective and with a financial perspective, and each group can be divided into three subtype with different viewpoints and criteria in the field of investment in financial technology, which need to be considered by start-ups.


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