Research On The Construction Program Of Guangdong Venture Capital Exit Platform

In recent years,the development of venture capital industry in our country has been developing rapidly.In 2016,the release of ?Some opinions on promoting the sustainable and healthy development of VC?accelerated the development of the whole venture capital industry,and the new record of capital raised and investment value has been broken repeatedly.However,the exit of venture capital mainly depends on the IPO channels.and there is little deal after listed on the NEEQ.which makes the exit from NEEQ nothing matter at all.The backward in exit channel is the main obstacle to the further development of venture capital.In contrast,the exit of VC marker in America is based on M&A and sold out,which will not only improve the efficiency of fund turnover and make the profit reality,but also can reduce the risk of policy caused by the adjustments of IPO policy,and thirdly it will help development of venture capital industry to the sustainable and healthy path.The system of exit channel based on M&A and sold out in America is worth learning for China.The optimization of domestic VC exit system is need to improve the liquidity of the transfer of shares in the OTC market.This article proposed that the Guangdong venture capital exit platform can take advantage of equity exchange function,information reporting and disclosure function in OTC market(such as Guangzhou equity exchange center),and take advantage of Internet technology for efficient matching.Then innovate the information reporting and disclosure mechanism in directed-layered-grade,setting up a secondary fund and a nomination fund to solve the problems of information disclosure and asset pricing in the process of equity transfer,which will make a great significance to improve the ecosphere of VC system,and it also will help to achieve the aim of "venture capital city" for Guangzhou.the Guangdong venture capital exit platform also achieve the platform with function of credit example and Policy docking and industry regulation.In the structure arrangement,this paper summarizes the situation of VC development in China and then in Guangdong province,and propose that the setting up the Guangdong venture capital exit platform will match requirement of market.Then based on the research of the domestic and foreign venture capital exit platform,this paper summarizes operation model and characteristics of those platforms.Finally this paper presents the idea of construction,function orientation and the regulation of the platform,andpresents the suggestion from the management mode,operation mode,profit model and safeguard measures in detail.