Performance Evaluation of Venture Capital for Small and Medium Sized Technology Startups under Uncertainty Environment

Abstract

This study presents a novel approach to evaluating venture capital in an uncertain 
environment using a multi-criteria decision-making (MCDM) methodology integrated 
with the plithogenic framework. Venture capital decisions often involve numerous 
conflicting factors and vague information, making precise evaluations challenging. The 
MARCOS method was applied to rank eleven alternatives based on eight criteria, such 
as return on investment and market growth. The criteria weights were computed using 
normalized crisp values, and the plithogenic operator was utilized to handle uncertainty. 
Sensitivity analysis confirmed the stability of the results, showing that the proposed 
method effectively ranks alternatives under varying conditions. The findings highlight 
the robustness of the MARCOS approach when integrated with plithogenic sets in 
addressing complex decision-making scenarios. 

DOI: 10.5281/zenodo.14707448