Comparative Analysis Of The Exit Of Venture Capital Of China

Since the late nineteenth century,venture capital comes out from America.Twenties of the twentieth century,the United States formed the basic features with modern venture capital industry,since which investment started to have a tremendous impact on the world's economy.Time when China's venture capital appeared relatively late,the pace of development was slow until the end of the nineties began to really scale.At present,China is facing major challenges of economic restructuring,the entire industry needs to promote the emerging venture capital industry to provide financial support,and this is the significance of this topic.Venture Capital is a longer period of equity investments in emerging high-growth industries,especially high-tech industry is the main investment targets.Unlike ordinary investment,venture capital do not rely on dividends,but on exit to realize gains.The operation of this industry is the investment-Exit-recycled investment constituted,therefore,for the venture industry chain,quit is an extremely important pivotal role.In this paper,through the analysis of venture capital in recent years,China's venture capital industry to exit the data portion,to understand the current situation of China's venture capital industry,so that readers of the IPO to exit,mergers and acquisitions have more understanding,and finally through these two kinds of venture capital exit way to build a comprehensive performance evaluation model,compare the pros and cons of both.This paper is divided into five parts,the first is the background and significance of topics elaborated in detail,and the research methods used herein and innovations made an exposition;the second part is related to research and review of literatures;The third part of a brief introduction of venture capital,including its definition and characteristics;Part IV simply exit mechanism for venture capital has made presentation;the fifth part of two different exit in China's actual conditions and the performance of specific analysis,the main focus IPO,M & A and other keywords.The last part of the paper is thanks,thanks for those who had helped me with this thesis.