The Case Analysis On The Exit Of ShiJiHongRong Venture Capital From The New Third Board

Innovative capability is a key factor reflecting the strength of the Nation.The original intention of establishing domestic venture capital is to support the development of high-tech companies,to solve the problems of funds and management,to promote domestic economic development and technological upgrading.The exit of venture capital,which is a very critical stage for both venture capital and venture companies.Venture capital has gradually approved and adopted by the exit of the New Third Board.This paper looks at the related issues on the exit of domestic venture capital institutions from the New Third Board.Got the 32 complete exits from the New Third Board,and chose a typical case-the exit of ShiJiHongRong Venture Capital from the New Third Board,focus on analyzing the exit process,exit method and exit return of this case.The exit of the venture capital from the New Third Board has problems:mainly the development of the New Third Board,and the integration of venture capital;then is the choice of multiple exit channels,depends on a variety of considerations,a slight deviation will increase the cost of exit time;it also includes the qualifications of venture capital institutions,its ability determines the exit result.Then,it puts forward suggestions on how to solve these problems: For government,whether it is in government support,guiding and creating a good investment climate or improving the construction of venture capital exit channels,the policy must be stable,accurate and can be expected.For venture capital institutions,the ability of venture capital institutions can be improved from the aspects of improving the quality of services,cultivating venture capital talents and increasing self-examination.For the Venture Capital exits market,improve the trading system and stratification standards of the New Third Board,and establish an effective transfer system with the regional equity trading market,the mainboard market and so on,bringing more exit methods to venture capital.This paper believes that venture capital is gradually accepted and adopted by the exit of the New Third Board.For those venture companies with smaller scale and single business,and the venture capital of wanting to quickly recover the return on investment for the next round.Listing New Third Board,can help venture companies raise funds to complete innovative research and development,increase visibility to achieve value-added,and facilitate the timely exit of venture capital institutions,or help venture companies to switch to the main board to achieve higher exit benefits.All in all,this paper combines the reality of domestic venture capital exit market,from the perspective of venture capital through the exit of the New Third Board,and filling the exit data of venture capital in the New Third Board.Based on the general analysis and case analysis,focus on the feasibility of venture capital exit from the New Third Board,the specific path selection of exit process and its return,and the main reason that affects the exit return,discover the problems and how to solve them.At the same time,this paper has also carried out active exploration in how to cultivate the New Third Board.It has brought some inspiration for the study of the reform and optimization of the NEEQ,and provided some ideas for improving the exit market of venture capital.