Research On The Problem Of Founder's Control Rights In The Process Of Introducing Venture Capital

With the rapid development of science and technology and the state to provide a good business environment,the number and quality of China's venture enterprises have achieved a greater breakthrough.However,behind the tide of entrepreneurship in full swing,venture capital is facing a great deal of control risk.Typical representatives are: South Beauty,Qunar,NVC lighting and other outstanding national entrepreneurial enterprises.This paper analyzes the ten start-ups in China since 2007,and chooses the other ten which didn't happen control risk in the three dimensions of the proportion of venture capitalists,the number of venture capitalists and the shares of venture capitalists.Found that the introduction of a larger number of investors,investor concentration ratio of less control of start-ups less risk.The fourth part and the fifth part of this paper select two typical examples of the control of the problem of further analysis.The fourth part chooses the typical case NVS lighting and South Beauty as the research object.Through the case description,the author analyzes the internal relationship between the control right arrangement in the founder's financing and the risk of the founder's control.The fifth part chooses the famous electrician JD and Alibaba in-depth analysis of their risk of avoiding the risk of advanced initiatives.Finally,I believe that venture capital firms in the same size,through the introduction of more venture capital institutions,venture capital holdings between the lower concentration.When an enterprise carries out multiple rounds of financing,the founder can avoid the risk of control by delegating the voting right,always acting the person agreement,the double ownership structure and the special partner system.In addition,the introduction of venture capitalists,the content of the gambling agreement requires a rigorous risk assessment,try to avoid radical business performance on gambling,companies can consider a professional third-party advisory body to assess the risk.