Research On Mechanism Of Venture Capital Fund Circulation

Venture capital uses as a direct financial medium for the new high-tech companies, it helps and brings up the small and medium-sized technology corporation. That is clear and fully affirmative. And the development of the new high-tech industry produces more and more important effect on a country's economics, so, venture capital, from its theory to practice, is paid great attention to by the person of insight. My thesis, namely "Research On the Mechanism of Venture Capital Fund Circulation", elaborates the mechanism of venture capital circulation in the minutest detail according to venture capital's total course, which is made of the setup of venture capital fund, choice the venture capital companies, tutorial and supervision and exit of venture capital. My thesis considers that the better mechanism of venture capital circulation is made of two agreements, one of which is sighed by investor and venture manager, the other by venture manager and venture company, and that venture capital can gain high profits is determined by the way of venture capital's exit, that is IPO. This paper expounds mainly three special themes, which includes the management mechanism of limited partnership, how to choice venture companies and how to calculate the value of stocks when venture capital should exit.My thesis has many innovations. Firstly, I explained explicitly and detailed the mechanism of venture capital circulation which is heterogeneous and badly arranged, which made reader find everything fresh and new and understand fully at a glance; secondly, I investigated the profit fountainhead of venture capital, and expressed it explicitly and firstly; thirdly, 1 explained many aspects about venture capital through economics theory, and applied several models, finally, I summarized and summed up other aspects of venture capital.