A Research On The Financial Risk Control In The Operation Of Venture Capital Fund

The first venture capital corporation,American Research & Development Corporation,was founded in 1946.It means that venture capital has stepped into a course of systematization and specialization.After more than half a century of development,venture capital has strongly promoted the development of large and medium-sized enterprises in the world,especially high-tech enterprises.Venture capital emerged in China in the 1980 s and played an irreplaceable role in the economic development of China.By the end of 2006,China had basically completed the equity split reform,what means that the main channels for venture capital withdrawal have been opened up and means that has brought new opportunities and impetus for the development of local venture capital institutions.In October 2009,China officially opened the GEM board.A large number of high-growth small and medium-sized enterprises can be listed on the GEM.It has further broadened the exit channel of venture capital.China's venture capital industry has entered a period of rapid development.Venture capital is a complex systematic project,from financing,investment and management to the exit,and is facing many potential risks in the process.One of the direct and important risk factor is the financial risks in operation of the fund.The thesis,combined with H Company actual situation in the venture capital fund operation,analyzes the financial risks that have been faced and the relevant risk control measure that have been taken.In this paper,the author puts forward the relevant improvement measures for the shortage of risk control in H Company,including establishing an early-warning mechanism of financial risk for entrepreneurial enterprises,strengthening risk control in the operation of venture capital fund,improving the related management mechanism of financial risk control and assisting in the effective use of tax,law,capital and other related policies.Through the case analysis of H company,the source of financial risk in each link of venture capital fund operation is explored,the risk control measures are studied and the means of risk avoidance are analyzed,in order to achieve the goal of reducing the probability of financial risk occurrence and the loss caused by financial risk,which has practical significance for the sustainable and healthy development of venture capital industry in China.