Research On The Valuation Adjustment Mechanism Of Shenzhen Capital Group Co.,Ltd In Private Equity Investment

Where public opinion is focused,development will be focused.High entrepreneurial threshold and poor entrepreneurial environment are new issues raised by the public.With the full support of the state,the threshold and environment for entrepreneurship have changed dramatically,and a large number of new entrepreneurial enterprises have emerged.Their own financing channels narrow,so that these enterprises take venture capital as a lifeline for financing.Therefore,the information asymmetry makes investors think twice about the risk factors in the investment process,forming the adversity of financing difficulties for small and medium-sized enterprises.The birth of the betting agreement can not only effectively alleviate the practical contradiction,but also find a balance point for both sides.Venture capital institutions can be sorted out government-backed venture capital institutions and privately-backed venture capital institutions.Different institutions have different preferences in signing betting agreements,resulting in different impacts.The formal establishment of the New Third Board in 2006 provides a broad platform for venture capital institutions.Combined with the above content,this paper regards SHENZHEN Venture Capital as the object and the successful listed enterprises of NeeQ invested by Shenzhen Venture Capital as the research sample to analyze the betting agreements signed in the investment process.From the perspective of venture capital institutions,this paper discusses the application and analysis and the influence of the betting agreement.As an old state-owned investment institution in China,SHENZHEN Venture Capital has a bulk of typical investment cases.Moreover,Shenzhen Venture Capital publicly issues the bonds of innovative start-up companies to qualified investors every year,and the information disclosed is sufficient,which is the cornerstone of follow-up research.It is found that the reasons for investors to sign the betting agreement can be analyzed from the perspectives of the years of the invested enterprise,the valuation of the enterprise,the shareholding ratio between the investment institution and the main controller,financing rounds,high-tech enterprises,joint investment and so on.In addition to the actual shareholder,other factors will have a significant impact on SHENZHEN Venture Capital to sign the betting agreement,such as ensuring the safety of funds,reducing the risk of betting,and accumulating the experience of the New Third Board.At last,we draw some suggestions:before signing the betting agreement,investors must be cautious and should not rely too much on signing the betting agreement to protect their own property security from damage.At the same time,in the selection of the gambling target,in addition to the public choice of net profit index,but also should be specific to the specific analysis,more reasonable setting of the gambling clauses,the effectiveness of the gambling agreement to maximize.