Drawing on the related literature, the using ways of the trust between an entrepreneur and an venture capitalist are firstly divided into the exploiting and the exploratory; and then the paper empirically investigates rts retationship with the entrepreneurial orientation and the entrepreneurial perfor mance. Our results shows: (l) the using way of the trust and entrepreneurial orientation take positive effects on entrepre neurial performance of new ventures directly; (2) entrepre. neurial orientation has the mediating effect between the using way of the trust and entrepreneurial performance, s...