Decision-making model on staged financing in venture capital based on agency

Staged financing in venture capital is usually considered as an effective way to solve the agency problem. But there are still some urgency questions to be solved such as when to finance the venture and how much to invest in each period. From the fact that the entrepreneur perhaps will renegotiate about the claim with the venture investor at various stages, a decision-making model on staged financing in venture capital is established, so an optimal investment path of a profitable venture capital item can be determined.