Study On Establishing And Operating Mechanism Of Venture Capital Leading Fund Of Agricultural Science And Technology

Agricultural science and technology is an important support for transformation thegrowth mode of agriculture economic and the development of modern agriculture.As aclosely related investment mode to technological innovation,Venture Capital has begun toinvest in the agricultural science and technology and shows a strong effect in recentyears.Agricultural science and technology which has positive externalities and theagricultural science and technology enterprises which has asymmetry information and highrisk,bring about the market failure if it only depend fund on the venture capital.Accordingto practical experience,government establishing venture capital leading fund is a commonmethod to support the development of venture capital and to change the market failure.Inthe environment of co-ordination on the economic and social development between theurban and rural,and the promotion of the agricultural science and technology,it is necessaryto establishing the Venture Capital Leading Fund of Agricultural Science and Technologyto attract the venture capital investment on the agricultural science and technology.In thisthesis,we summarize the related concepts and theoretical basis, and analysis the experienceof venture capital leading fund abroad and inland,and analyze the feasibility of establishingand operating Venture Capital Leading Fund of Agricultural Science and Technology fromits practical needs,theory evidence and operation plan.The innovation of the article is mainly embodied in two aspects, at first it completelyanalysis the necessity and feasibility of Venture Capital Leading Fund of AgriculturalScience and Technology; and also it discuse the operation mode of the leading fund. Theestablishment of leading fund not only helps to improve the theory system of agriculturalscience and technology venture capital, innovates the financial method for agriculture,improves the efficiency of finacial fund, but also contributes to develop the agriculturalscience and technology industry and the venture capital of agricultural science andtechnology. Therefore, the study has both theory value and practical significance.