| The Venture Capital(VC)Investment industry has witnessed a short period of development,still being a very primary stage.However,the venture capital companies have made great contributions to the development of SMEs,especially the high-tech start-ups,in our country.However,the growth rate of VC industries has slowed down because of the downturn of our macro economy.As a result,a mass of newly established VC firms,whose funds are less than 500 million RMB are facing problems for their crude investment strategies in the past.One the one hand,the companies VCs have invested are hard to raise a next-round money;one the other hand,the VCs are not easy to raise new fund.This paper is according to author's real investment experience in the VC firm A,who was founded in 2015 with a management scale of 500 million RMB.It illustrates the whole investment process of TC Bill Trading Platform and point out its investment values through analyzing the bill industry,competitors,business models,operational conditions and financial conditions as well as building a three-year financial models to calculate the expected valuation and ROI.This paper also points out potential risks this investment may face with and provides possible solutionsThrough a real investment case,this paper summarizes a normal investment process of VC firm A,explaining existing problems and providing an optimized process.It also gives suggestions on valuation methods for A and other similar VC firms.In addition,this investment of TC Bill Trading Platform is a good investment sample for an upgrading traditional industry. |
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