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This paper presents a novel approach based on the intuitionistic fuzzy combined ordered weighted averaging (IFCOWA) operator to solve multiple attribute group decision making (MAGDM) problems under fuzzy environment. Firstly, we introduce the new methods for determining the attribute weights and the order inducing variable of the proposed operator. With the intuitionistic fuzzy cross-entropy of aggregated attribute value to the optimum and the poorest information measures, the sort vector is constructed to derive the weights of attributes. Moreover, the order inducing variable of the attributes is obtained from their score values, by which the inducing order is roughly determined. Finally, two numerical examples about the venture investment problems are illustrated to demonstrate the applicability and efficiency of the raised approach in group decision making problem.