China Venture Capital Company is the first VC company in China. It was set up in 1985, China Science&Technology. Committee and Ministry of Finance were its major stockholders. China Venture Capital Company developed rapidly since its set up. Its total asset once reached 10,000,000,000.00. China Venture Capital Company was bankrupted in 1998 because illegal ways to absorb deposit and can not pay mature debt.The bankrupt of China Venture Capital Company was not an accident, its fate was decided by its internal model of management and external social and economic environment. To some extent its bankrupt was unavoidable.Although China Venture Capital Company was bankrupted. Venture capital can not stopped in China. To welcome the challenge of knowledge economy China must pay more attention to develop venture capital. Many difficulties China Venture Capital Company ever met are common to other venture capita company. We should try our best to make the environment fit for venture capital. The writer have given some detailed suggestion.
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