Analysis of profitability levels of venture capital investment trusts with Aras method

Abstract

There are some important points for companies when making financial decisions.  For these decisions, liquidity and profitability are essential sources of economic choices that companies attach some importance to.  As crucial as liquidity is for the success of companies, profitability is just as important.  It is essential to predict financial problems before they occur and to determine which factors affect this situation. Analysing financial information, taking measures, and implementing these measures with determination will lead to economic success.  Venture Capital Investment Trusts are partnerships established as registered capital and direct their issued capital mainly towards venture capital investments. With these ventures, venture capital can be financed at every project stage. They also have high costs due to high uncertainty. These partnerships may invest in capital market instruments traded or issued to be traded on the stock exchange and reverse repo transactions. The Capital Markets legislation requires the financial information of the partnerships and must comply with these communiqués. They are required to publish interim financial reports and year-end financial reports. These partnerships are subject to independent audits. An independent audit firm audits them at the end of the 6th and 12th months. With this audit, partnerships have a more institutionalized structure. In addition, the financial statements of the partnerships are subject to continuous independent audits. The study aims to determine the profitability levels of the companies in the venture capital investment trusts sector.  In this context, the data of seven companies operating in Turkey between 2019 and 2023 were analyzed through the ARAS method.  Although the profitability levels of the companies fluctuate over the years, it is observed that the results are similar in general.  As a result of the study, it was determined that the company with the highest profitability level between 2019 and 2023 was Hedef Venture, and the companies with the lowest profitability level were HUB Venture and ICU Venture.