A Case Study Of S Equity Investment Fund's Investment In Y Company

As a new mode of direct financing system,private equity investment has been rising in recent years with the rapid development of China's real economy.With the popularization of "mass entrepreneurship and innovation",the improvement of capital market and the landing of scientific innovation board,more and more private equity funds have targeted scientific innovation enterprises.However,in the early stage of development,the good and bad of most scientific innovation enterprises are uneven,and their core advantages are intangible assets such as resources,technology,business model,which makes it difficult to evaluate the value of their equity investment,thus affecting the investment efficiency and success rate.Therefore,how to evaluate the equity investment value of scientific innovation enterprises becomes more and more important.This paper takes the investment of S equity investment fund in Y company as the main line and focuses on the analysis of its equity investment link.At present,Y company is not profitable,and its core competitiveness is intangible assets such as technology and resources,which are typical of a scientific and creative enterprise.In the process of analysis,the motivations of the two parties are firstly analyzed to ensure that the motivations of the two parties are clear and complementary.Then,the "4 + 1" evaluation method is adopted to analyze and evaluate the market prospect,competitive advantage,business model and financial indicators of company Y,so as to ensure that company Y belongs to the dominant enterprise in the dominant industry.The method of economic value added,user value method and market method are adopted to analyze and evaluate the valuation of company Y,so as to ensure the rationality of the valuation of company Y.Then the exit channels and risk mechanisms are analyzed to ensure that risk control measures can reduce information asymmetry risks and protect the interests of S equity fund.Through the above analysis and evaluation,it is concluded that the equity investment value of company Y is reasonable and worth investment.Finally,through case study and thinking,this paper summarizes the enlightenment for equity investment funds and scientific innovation financing enterprises: equity investment funds should choose the dominant enterprises in the dominant industry to invest,reduce information asymmetry risk,and reasonably evaluate the value of equity investment;Scientific innovation financing enterprisesshould choose appropriate investment institutions for financing and pay attention to the design of business model.This paper strives to make a comprehensive and reasonable assessment of the equity investment value of scientific innovation enterprises.In the analysis process,it adopts the "4+1" assessment method to evaluate the industry environment,business model and valuation of company Y layer by layer.The "4+1" evaluation method is more comprehensive and logical,which is of guiding significance for equity investment funds to reasonably evaluate the investment value of scientific innovation enterprises,and of reference significance for improving the investment efficiency of equity investment funds.