Existing research on university holding companies has focused on specific areas of operational and strategic management. However, holistic performance management remains underexplored, despite UHCs' expanding influence within entrepreneurial ecosystems and their critical contributions to institutional sustainability. Therefore, this paper aims to propose a comprehensive performance management framework tailored to ensure the operational effectiveness and long-term viability of university holding companies. A systematic literature review was conducted on 1,216 academic papers published between 1991 and 2024. This review involved a detailed search for terms related to the concept of university venture capital. The analysis identifies three critical components for effective management of university holding companies: governance structure, acceleration, and policy and support. The corporate governance includes a shareholder structure, a board structure, and strategy. The acceleration component comprises service support, training programs, and networks. Lastly, policy and support consist of investment policy, regulation, and performance management.