A Neutrosophic Topological and Algebraic Model for Evaluating  Venture Capital Performance in Small and Medium-Sized  Technology Enterprises

Miao Wang

Authors

Miao Wang School of Management, Harbin Institute of Technology, Harbin, Heilongjiang, 150001, China; Faculty of Humanities and Social Sciences, Harbin Institute of Technology, Harbin, Heilongjiang, 150001, China

Keywords:

Neutrosophic Logic, Venture Capital, SMEs, Uncertainty, Topology, Bi-LA Semigroup, Investment Modeling.

Abstract

This paper presents a new mathematical model for analyzing venture capital
(VC) decisions in small and medium-sized technology enterprises (SMEs). The model is
based on two novel neutrosophic structures. First, we introduce the Neutrosophic Risk
Topological Space (NRTS), which represents the uncertainty, trust, and risk in VC
decision-making using a special type of topological structure. This space captures the
changing nature of technology startups by allowing each possible decision state to be
measured in terms of truth, indeterminacy, and falsity. Second, we develop the
Neutrosophic Bi-LA Venture Capital Algebra (NBVC), an algebraic system that models
interactions between investors and startup projects. The NBVC framework uses two
binary operations to express both agreement and conflict in VC negotiations. Together,
these two frameworks allow a complete and detailed evaluation of investment scenarios
under real-world uncertainty. The paper includes mathematical definitions, logical
proofs, and full calculation examples. Our results show that neutrosophic tools can
provide deeper insights into VC dynamics and offer more accurate models than
traditional fuzzy or classical systems.

DOI: 10.5281/zenodo.15873466