This study has conducted to analyze the effect of fund investment, scope of investment, fund procurement method, investment time, and investment on the growth and profitability by implementing the parametric test (t-test and ANOVA analysis) and the parametric test (Mann-Whitney Test, Kruskal Wallis Test) as well as the multi-regression analysis on the basis of the venture company DB that venture capital invested during 2004~2005 in order to analyze the difference of outcome for each time of fund investment of venture capital that undertakes important functions for the development of venture companies and the followings are the result of such study. First of all, as a result of analysis following the investment of venture capital, the companies that received the venture capital investment showed higher growth than the company without the venture capital investment that displayed clearly better outcome with respect to the growth-ability indices, such as, the rate of increase in sales revenue and the rate of asset increase, and the more the scale of fund investment, the higher the growth. These results may be attributed to the investment to a venture company that is expected to have high probability of growth when the venture capital determines for investment, but it is more likely to have the positive influence of fund investment of venture capital moderates the information asymmetric problem of the venture company to improve the corporate value of the venture company. Second, the study found no noticeable difference in growth and profitability between the investments in common stocks and investment on equity-linked note (ELN) with respect to the fund procurement method. This is considered as a main cause of moderating the agency issue of venture company to display relatively lower incident rate for the case of the ELN investment that has the redemption right of the venture company. Third, as for the analysis of outcome following the investment time, the companies with initial investment displayed higher corporate outcome than the late investment companies with respect to the growth-ability index, and the initial investment company displayed better corporate outcome with respect to the gross asset profit rate from the growth-ability index. This type of result is consistent to the interrelationship of risk and yield as shown in the study result of Gompers (1995) and finance Theories. And, fourth, as a result of the analysis following the investment method, it showed that the joint investment did not have positive influence on the corporate growth and profitability.