Venture capital investment as a new-type system of investment and finance there is tremendous risk.Because of the risk it is important to select scientific decision making methods since they are directly related to the success of venture capital investment.In view of the life cycle this paper analyzes the risk features at different stages of investment and the characteristics of venture capital.The paper also introduces two models to assess investment at different stages by applying options assessment.At the end of this paper two cases are given to demonstrate how the models are applied in making investment decision.