The more you pay back the kind of loan, borrowing usury.
Venture capital is an investment, generally investing in high-tech enterprises, investing money in shares, to raise your business, listed, or merged and acquired, the investor has to withdraw, the shares out of.
For example: venture capital is like raising chickens, you have high-quality chickens, I give you money, even in addition to you personally raise other things to help you do, but these chickens are also considered to be my, earn money to share me a few percent of your chickens may be in order to sell eggs or sell broilers, I invested in the chicken grew up on the withdrawal, and then look for other small chickens
What is the meaning of the investment is ah?It is the process of converting money into capital. Investment can be divided into physical investment, capital investment and securities investment. The former is the currency into the enterprise, through production and operation activities to obtain a certain profit. The latter is the purchase of shares and bonds issued by the enterprise with money, and indirectly participate in the profit distribution of the enterprise.
What does venture capital mean?First, the definition of venture capital
Venture capital refers to the risk capital invested by professional financiers in new and rapidly growing unlisted companies (mainly high-tech companies) with great competitive potential, providing long-term equity capital and value-added services for financiers on the basis of assuming a great deal of risk to cultivate the rapid growth of the enterprise, and then withdrawing from it after a few years through IPOs, mergers and acquisitions, or other equity transfers. The investment is a kind of investment method to get a high return on investment.
Investment object: emerging, fast-growing, with great competitive potential
Capital attributes: equity capital (medium- and long-term investment)
Investment purpose: the pursuit of high returns (financial investment)
Second, the basic characteristics of venture capital
1, is a kind of equity investment
Venture capital is not a kind of borrowing capital, but a kind of equity capital. Rather, it is a kind of equity capital; its focus does not lie in the current profit and loss of the investment object, but in their development prospects and asset value-added, so that through the listing or sale to achieve the purpose of molting the capital and obtain a high return. Therefore, a clear relationship between property rights is a necessary prerequisite for the involvement of venture capital.
2, is an unsecured, high-risk investment
Venture capital is mainly used to support high-tech enterprises or high-tech products that have just started or have not yet started, on the one hand, there are no fixed assets or funds as collateral and guarantee for loans, so they can not obtain funds from traditional financing channels, and they can only open new channels; on the other hand, the risks of technology, management, market and policy are very high, even in the developed countries, high-tech enterprises can not obtain funds from traditional financing channels, so they can only open new channels. Very large, even in developed countries, the success rate of high-tech enterprises is only 20% to 30%, but due to the success of the project returns are very high, so it can still attract a number of investors to speculate.
3, is a less liquid medium- to long-term investment
Venture capital is often invested in the venture business start-up funds, generally after 3 to 8 years to obtain returns through molting capital, and during this period, but also constantly on the hope that the success of the enterprise to increase capital. Because of its small liquidity, so some people call it "stagnant capital".
4, is a highly specialized and programmed portfolio investment
Because venture capital is mainly invested in high-tech industries, coupled with the high investment risk, requires venture capital managers to have a high level of professionalism in the selection of projects requires a high degree of specialization and programming, carefully organized, arranged and selected, as far as possible, to lock the investment risk.
In order to diversify the risk, venture capital usually invests in a project group containing more than 10 projects, and uses the high returns achieved by successful projects to compensate for the losses of failed projects and gain revenue.
5, is a kind of active participation of investors in the investment
Venture capital and high-tech two elements constitute two major wheels to promote the cause of venture capital, both of which are indispensable. Venture capitalists (companies) in the risk of enterprise injection of funds at the same time, in order to reduce the investment risk, must be involved in the management of the enterprise, to provide advice, participate in major issues of decision-making, and even dismissed the company manager when necessary, personally take over the company, and try to help the success of the enterprise.
6, is a pursuit of excessive returns on financial investment
Venture capital is the pursuit of excessive profit returns as the main purpose of an investment behavior, investors are not in a certain industry to obtain a strong competitive position as the ultimate goal, but as a means to achieve excessive returns, so the venture capital has a strong financial investment attributes.
Three, the four elements of venture capital
1 venture capital
Venture capital is a kind of capital provided by professional investors to invest in fast-growing and emerging companies with great appreciation potential. Under normal circumstances, because the investee company's financial situation cannot meet the investor's need to withdraw funds in the short term, and therefore cannot obtain the required funds from traditional financing channels such as bank loans, then the venture capital enters into these companies by purchasing equity, providing loans, or both purchasing equity and providing loans.
U.S.A. China
Annuities Foreign Funds
Insurance companies Industrial companies (mainly listed companies)
Industrial companies Venture capital firms (with strong *** background)
Individuals and families Individuals and families
Funds Non-banking financial institutions
Investment banks
Non-banking Financial Institutions
Foreign Funds
2. Venture Capitalists
Venture capitalists are the operators of venture capital, which is the center of the venture capital process, and their job functions are: identifying and discovering opportunities; screening investment projects; deciding to invest; and promoting the rapid growth and exit of venture enterprises. The capital flows to the venture enterprise through the screening of the venture capital company, and then flows back to the investor through the venture capital company after obtaining the income.
Venture capitalists can be roughly divided into the following four categories:
The first category is called venture capitalists. They are entrepreneurs who invest in other entrepreneurs, and like other venture capitalists, they make profits from their investments. The difference is that the capital invested by venture capitalists is owned by them, rather than being entrusted to them.
The second category is the Venture Capital Firm. There are many types of venture capital firms, but most of the companies to invest through venture capital funds (venture capital firms in addition to raising venture capital through the establishment of venture capital funds, but also directly to the investors to raise capital, the company itself also uses the form of limited partnership, investors become limited partners of the company, the company's managers to become the general partner of the company), these funds are generally limited partnership as the form of organization [
The second type is the Venture Capital Firm (VCF).
The third category is Corporate Venture Investors/direct investors. These are often independent venture capital organizations affiliated with non-financial industrial companies that invest on behalf of their parent companies. Like specialty funds, these investors typically invest primarily in specific industries.
The fourth category is called angels. These investors typically invest in very young companies to help them get off the ground quickly. In venture capital, the term "angel" refers to an entrepreneur's first investors, who put money into a company's product and business before it takes shape. The angel investor is usually a friend, relative or business partner of the entrepreneur, who is willing to invest a large amount of money in the entrepreneur before the business is even launched because they are convinced of the entrepreneur's ability and creativity.
3. Venture Enterprise
If the function of venture capitalists is value discovery, the function of venture enterprises is value creation. Venture entrepreneurs are the inventors or owners of a new technology, a new invention, a new idea. They seek the help of venture capitalists due to the lack of follow-up funds when their inventions and innovations are carried out to a certain extent. In addition to lack of capital, they often lack experience and skills in management. This is also something that requires the help of venture capitalists.
4, the capital market
The capital market is a must for venture capital to realize the value of the realization of the road, there is no developed and perfect capital market, it is impossible to make the venture capital to obtain excessive returns, so that the venture capitalists have lost the source of the impetus for venture capital.
Venture capital
In our country, it is an agreed concept with specific connotations, and it is more appropriate to translate it into venture capital. Venture capital in the broad sense refers to all investments with high risk and high potential returns; venture capital in the narrow sense refers to investments based on high technology, production and operation of technology-intensive products. According to the definition of the National Venture Capital Association of the United States, venture capital is a kind of equity capital invested by professional financiers in emerging, rapidly developing enterprises with great competitive potential. From the point of view of investment behavior, venture capital is a kind of investment process which puts capital into the research and development field of high and new technology and its products which contain the risk of failure, and aims to promote the commercialization and industrialization of high and new technology achievements as soon as possible, in order to obtain a high capital gain. From the point of view of the operation mode, it refers to the investment intermediary under the management of specialized talents to the high-tech enterprises with special potential to invest risk capital in the process, but also the coordination of venture capitalists, technical experts, investors, the relationship between the interests of *** enjoy, risk *** share of a kind of investment mode.
What is the meaning of venture capital PE, angel investmentPrivate Equity (Private Equity) referred to as PE, is to raise funds through the form of private placement, private enterprises, that is, unlisted enterprises for equity investment, so as to promote the growth of the value of the unlisted enterprises, and ultimately, through the listing, mergers and acquisitions, management buybacks, equity replacement, etc., the way to sell the shareholding The investment behavior of the cash withdrawal.
Angel investment (ANGEL INVEST) refers to personal funding to assist entrepreneurs with specialized technology or unique concepts and a lack of their own funds to start their own businesses, Kaori and bear the high risk of entrepreneurship and enjoy the high returns after the success of the venture. Or it is a one-time upfront investment by a free investor or an informal venture capital organization in an original project idea or a small start-up business. It is a form of venture capital, in that depending on the number of investments made by the angel investor and the combined resources that may be available to the investee company.
What does deed tax mean in layman's termsDeed tax is a property tax levied on the owner of the real estate where the transfer of ownership occurs as a taxable object, to the bearer of the property right. The scope of tax payable includes: the sale, gift and exchange of land use rights, house purchase and sale, house gift, house exchange and so on.
The deed tax payment regulations are as follows: commodity house deed tax needs to be paid within 90 days after the record date. According to Article 32 of the Law of the People's Republic of China on the Administration of Tax Collection, if the taxpayer fails to pay the tax in accordance with the specified period, and if the withholding agent fails to release the tax in accordance with the specified period, the tax authorities, in addition to ordering the payment of the tax within a certain period of time, will add a late fee of five ten thousandths of a percent of the late tax from the date of the late tax, on a daily basis.
What is the exit mechanism of venture capital, to put it plainly.An example:
An A opened a restaurant and invested 300,000 dollars.
Another person, a certain B, 100,000 to join the restaurant, so the total investment became 400,000, he accounted for 25% of the shares of the restaurant's profits he can share 1/4. If this year's dividends, there are 80,000 yuan of profit distribution, then he will be able to share the 20,000, which is an ordinary investment situation.
If it is still the same B, or out of 100,000 yuan, or 25% of the shares, but the restaurant operated for 1 year, because the restaurant is located in a good location, the customers are full of, he will be 25% of the shares he accounted for 200,000 yuan to sell to a C. The C is the first time that the restaurant has been sold. So C took 25% of the restaurant and B withdrew. This is the exit.
Although B did not participate in the restaurant's dividends, he invested $100,000 and recouped $200,000 a year later.
Venture capital is the latter practice, the original possession of the shares sold, called "exit". Venture capital exit, there are four possibilities:
1. He invested in the company later listed on the stock market, his shares sold to the stock market investment in the stock.
2. His shares, sold to another person who is optimistic about the prospects of the company, as in the previous example.
3. his shares, sold to his partner. His partner buys the shares back from the venture capitalist because the company is doing well and making money.
4. The company did not do well and went out of business. So everyone in accordance with the original agreement to liquidate, take the restaurant, for example, bankruptcy, all the valuable things after the sale of 20,000 yuan, then a B share of 1/4 that is 5000 yuan.
The above four cases, that is, the exit. The so-called exit mechanism is from the state law, for his exit behavior to formulate the corresponding laws and regulations.
First of all, we need to know that the deed tax means the tax levied on the contract, which is a property transfer tax, a tax paid by the bearer of the property.
Ordinary residential, the first, 90 square meters or less to pay 1% of the transaction price, 90 square meters - 140 square meters to pay 1.5%, 140 square meters or more to pay 3%.
According to the relevant national policy, the type of household above 140 square meters belongs to the non-ordinary residence, the risk of purchasing a non-ordinary residence is only reflected in the first purchase of the deed tax, and in the future may be levied on the ownership of the tax (such as property tax) and miscellaneous taxes (land value-added tax, business tax, personal income tax, etc.) can be differentiated due to the purchase of a non-ordinary residence.