| The rapid growth of China's Hi-tech enterprises needs large amount of capital for R&D and operation. In view of the current status of financing market for hi-tech enterprises, the author proposes that venture capital would ensure the sufficient and long-term supply of capital for hi-tech enterprises. Based on this point of view, the author studied the case of Western Metal Materials Co. Ltd and made an analysis on the companies' strategy of attracting venture capital.In the first part of the article, the author elaborated the theory and main features of venture capital as well as its operation procedure and this would be the theoretical foundation of the research. In the second part, it made an analysis of hi-tech enterprises' characteristics, financing needs and features of venture capital, and studied the cause of financing difficulties by hi-tech enterprises, and also proposed the solutions of how to make financing strategies. The main work is based on the example company's case and its growth strategy, the article proposed specific strategies of venture capital utilization according with the needs of the company and elaborated the venture capital utilization scheme. It gave a briefing about the financing procedure for the case. The author also innovatively made a risk evaluation from the perspective of venture capital company, which could be theoretical basis for strategic decision on financing by hi-tech enterprises as well as investment decision by rch venture capital companies. Then it summarized factors for successfully attracting venture capital.The last part of the article gave an analysis of financing result by the example company and summarized the strategies of attracting venture capital by hi-tech companies. |
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