Abstract: A new venturous capital pricing method, the synthetic utility index method, which is based on the whitenization weight function of grey numbers and the capital assets pricing model (CAPM), is put forward in this paper. The new method has overcomed the shortcomings of the Expectation-Variance Method and Sharpe’s Index Method, and avoids the inconvenience of constructing utility function to a certain extent as well.

Key words: venturous capital pricing, synthetic utility index, grey whitenization weight function, CAPM