Research On Investment Risk Of PE To Express Delivery Enterprises

PE is an important force in the current supply-side structure reform in China.In the deepening economic reform,PE can solve the financing problems commonly existing in small and medium-sized enterprises in China,and further promote the implementation of supply-side reform in China.As an investment activity that follows the concept of value creation,PE has to undergo the process of project screening,due diligence,fund raising,investment,post-investment management and even exit.There are inevitable risk factors in each link.With the reform trend of integration and upgrading of express industry becoming more and more prominent,express enterprises have become the hot target of PE investment in China.Therefore,the research on risk control of PE investment is very important for the development of PE in China and the reform of express enterprises.This paper takes the risk evaluation and control of PE investment express delivery enterprises as the starting point,and combines the case of Sequoia Capital Investment ZTO Express to systematically analyze the operation process of Sequoia Capital in the investment process,and use statistical methods to screen Sequoia Investment.The main risk factors in the process,and the establishment of Sequoia investment risk evaluation index system,the distribution of index weights and the evaluation of risk degree by using the analytic hierarchy process and fuzzy comprehensive evaluation method,study the risk management of Sequoia in various operational links.Finally,according to the operational characteristics of domestic private equity investment and the characteristics of project operation cycle,combined with the status quo of express delivery enterprises,a specific risk prevention and control plan is proposed for the risk characteristics of each stage.Through research and analysis,this paper believes that private equity investment should manage the fundraising channels and structure,strengthen industry due diligence during the investment phase,draw diversified investment tools,staged investment,etc.The management stage should be paid more attention to.It is necessary to pay attention to the collection of information,enhance the emphasis on the establishment of professional departments and staffing,and carefully choose the method and degree of exit when exiting,so as to reduce the risk of private equity investment in actual operation.