We introduce a theoretical valuation model of the venture company's firm value. The most important characteristic of this model is its capacity to estimate the value of intellectual assets. as well as the enterprise. uSing publicly disclosed financial data. The valuation model consists of six groups of publicly available information ; namely. current financial assets. current and the prior period's tangible asset, current and the prior period 's net working capitals. current operating income, current expenses of knowledge management, and current investment assets. Because this makes the model very practical to apply in anal yses, it is possible to apply this model of firm value valuation to suit individual venture companies. The results of the positive study are as f이 lows . First, the size of intellectual assets. which is estimated from the expenses of knowledge management and networking investment turns out to be sizable. The estimated size of intellectual assets is reported to be 0.7 to 1.0 times of total assets in the balance sheet Second. the venture company valuation model can be used to estimate the proportion of the traditional value (including tangible asset value, working capital value and earnings' value) , and the intellectual asset value (including technology. marketing, management, and networking asset values). The weight of each asset value is reported to be 40% : 60% in case of venture companies and 33% : 67% for internet companies.