Theory And Practice Of Venture Capital Agent

The great success venture capital with an important effect on the economic development in USA aroused universal recognition after 1990's. There existed many problems in venture capital urgently needed to be resolved in China, such as the time lag of growth and low operating achievements. Based on the domestic and international theoretical study, combined with the current status of our country, this paper selected the agent, which played a special role in venture capital, as the studied object. The paper discussed the function among every link of venture capital and effect on the whole achievement of venture capital agent group, which mainly included the core agent of venture capital namely venture capital companies and other auxiliary agents, and provided the theoretical explanation and practice cases. The establishment of venture capital agent system in China was deduced step by step from characteristic, function, to operation management and supervision.There were eight chapters in this paper.Chapter 1, Introduction, briefly described the background of the project, reviewed the present studying results in China and other countries, and summarized the significance and method of this paper.Chapter 2, Venture Capital Agent, firstly presented the definition, taxonomy and function in market economy of venture capital agent. Secondly, combining the characteristic of venture capital market, the author gave a precise connotation of venture capital agent, and classified the deferent levels and functions of venture capital agent in venture capital. The first level was the first class agent, called venture capital company, served as the core agent, and the second level was the other auxiliary agent group that provided services for the first class agent.Chapter 3, Theory of Venture Capital Agent, starting with the summary of finance agent and modern enterprise theories, explicated the theory of venture capital usingrelative contents. The chapter mainly answered the necessity of developing venture capital, the rationality of existence of venture capital and the management of agency relation.Chapter 4, Practice of Core Agent of Venture Capital, the author described the establishment and operation of core agent of venture capital, stressing the comparison and selection of organizing forms of the core agent and the evaluation of risk-project decision.Chapter 5, Practice of Auxiliary Agent Group of Venture Capital, the chapter described the common and special agents in auxiliary agent group of the venture capital, emphasizing particularly on the extended services that the common agent provided for venture capital, and on the venture capital function of special agent.Chapter 6, Cases Analysis, the introduction and analysis of the typical cases was carried out in order to evidencing the viewpoint of this paper.Chapter 7, Systematic Establishment of Venture Capital Agent in China, the author analyzed deeply the status and problems of the core and auxiliary agents of venture capital in China, basing on the content of above chapters. The core agent and other auxiliary agent group of venture capital in China were constructed according to the analyses.Chapters 8, Conclusion, the chapter summarized the main point and listed the innovations of this paper.