A Study On Retreat Mode Of The Domestic Venture Capital

As a kind of innovative investment tool, venture capital (VC) appeared under the condition that market economy is quite developed. It is a high risk, high repayment, long-term, rights and interests, specialized investment behavior, play a extremely important role in supporting the founder to establish a business, promoting scientific and technological achievements transform, promoting new and high technology industrialization, etc. But the precondition that VC succeeds is to make the investment be retreat and value increment, so retreat be put to the key position in the course of whole VC, it is a main goal pursued by VC, whether could succeed in retreat is directly concerning to the VC institution existence and development. The unblocked retreat mechanism is the security of realizing the great amount of income and it is the key of the success of VC.On the basis of the theory analysis and practice summarize. This paper firstly expatiated the relevant knowledge of VC, focusing on VC's concept, essential factors, feature and functions,and has summed up VC development in china and in Chongqing.IPO, merger&acqisition, buy-back and bankrupt liquidation are four mainly kinds of VC's retreat modes, separately comparative their characteristic. Then this article comments the VC retreat application state in our country, while and make use of real case to introduce that several kinds of effectively VC's retreat form which explored .In this paper, put forward how to carry out the success of VC retreat, from VC micro operation aspect, in project choosing, project responsible investigation, retreat design in the investment contract, project management, value-added service and the choices of the opportunity and way out, etc. we respect make a full and accurate analysis and study, this part should be come to the summary the practice of the domestic VC company. Then, carrying on case analysis about the buy-back, we have analyzed investment and retreat course, and have summarized the case experience.At last, we analyze that restrains domestic VC retreating from the obstacle,then combining the policy of promotion VC undertaking development that the country issues recently, we provide some ways to perfecting VC 's retreat mechanism.