Abstract: Purpose/Significance According to the multi-task characteristics of investment operation of venture capital fund sponsored by Government Guide Fund, designing a dual-task oriented incentive contract can guide the fund manager to allocate effort reasonably, so as to improve the efficiency of investment operation and ensure the realization of policy objectives. Design/Methodology By introducing the task importance coefficient, effort cost coefficient and measurable performance variance, an incentive contract for fund managers with dual task is constructed, and the impact of relevant parameters on the incentive contract is analyzed in three situations when two tasks are independent, complementary and substitutive. Conclusions/Findings The incentive for certain task is affected by the changes of parameters related to two tasks when two tasks are interrelated. The direction in which a given task is affected by the changes in parameters related to another task depends on the attributes of the relationship of the two tasks. The Guide Fund should formulate different incentive schemes according to the difference in the importance, effort cost and observability of the task, and adjust the incentive level of the two tasks according to the changes of relevant parameters.