Research On The Problems Of The Syndicate Equity Crowdfunding Mode In China

In the this growing team of Internet finance,equity crowdfunding has been occupying the important status.After years of rapid development,people are no longer strange to it,calling it “the Internet in the financial sector last grand finale”.In 2010,Angel List,the world's first equity crowdfunding platform,was born in silicon valley of the United States.The platform which has become the world's largest equity crowdfunding platform pioneer the syndicate mode and has brought remarkable effect.To some extent,it became the example various countries imitate in the equity crowdfunding field.In 2011,the first equity crowdfunding platform appeared in China.Nowadays,the most equity crowdfunding platforms take the syndicate mode which draw lessons from the successful experience of American AngelList platform and combine with the investors' characteristics of legion and weak risk awareness,since then,the development of the equity crowdfunding is also very fast in our country.But due to its recent advance in China,the development path of the syndicate equity crowdfunding mode is still not clear and each link has many problems restricting its development.Meanwhile,there is no related legal policy introduced in the equity crowdfunding field.Therefore,it is necessary to study the problems in various stages of the syndicate equity crowdfunding mode and propose a targeted solution,which has certain practical significance for the rapid development of equity crowdfunding in the future.This article first has carried on the basic understanding of the syndicate equity crowdfunding mode to master preliminarily the operation process and the related theory of the syndicate equity crowdfunding mode and use the pingan crowdfundingas example to make basic analysis.The syndicate equity crowdfunding mode is divided into three stages in this paper,namely raise stage,management after raising stage and exit stage.and three aspects,namely the issuers,investors and the platforms to roundly research the possible problems as far as possible.Meanwhile,the syndicate equity crowdfunding is pioneer and feature of America whose background is similar to that of our country.Therefore,the article choose to learn from the development of the syndicate equity crowdfunding mode in America,among them,the research mainly from two aspects: first,research on the JOBS Act and the Crowdfunding Rules from the perspective of information disclosure,investment and financing limit and registration exemptions;Second,take AngelList which is the first largest equity crowdfunding platform and invest the syndicate mode which is closely connected with the AngelList' success as an example to roundly research the syndicate crowdfunding mode in America.At the last,according to the problems of the syndicate equity crowdfunding mode in our country and the sucessful experience of that of America,the concrete and feasible suggestions were proposed,namely: raise stage,management after raising stage and exit stage.