风险投资
0 I% W9 \* V/ U% Y' ~2 O1 q | 是指投资者以风险资本的形式对尚在发展初期，具有潜在风险的企业进行投资的过程。典型的风险投资要承担放弃一定的公司所有权及管理控制权。投资者因承担了高风险因而可以获得高额的回报。投资形式一般是股票或可以在未来转换成股票形式的工具。随着公司经营的成熟，可以通过公开发行股票，公司合并或者出售，或用其他方式的获得资本。只要风险资本投资者有要退出的意愿，上述任何一种形式都有可能采用。风险投资者通常希望在退出时获得每年２０－５０％的投资回报。风险投资者一般会投资在那些有可能快速发展的公司上，这些公司中任何一家都有潜力产生极高的年收入，如在美国典型的投资额一般在５０万至５００万美元之间。管理经验是评估投资前景的主要考虑因素。
" }8 R" l0 Q" T6 t, x% Z- D Venture Capital
' \( _6 d" a8 o0 m; \1 l' E Venture Capital is the process by which investors fund early stage, more risk oriented business endeavors. A venture capital funding arrangement will typically entail relinquishing some level of ownership and control of the business. Offsetting the high risk the investor takes is the promise of high return on the investment. The investment is usually in the form of stock or an instrument which can be converted into stock at some future date. As the business matures, an initial public offering may take place, or the business merged or sold, or other sources of capital found. Any of these would occur with the intention of buying out the venture capitalists. Venture capitalists typically expect a 20-50% annual return on their investment at the time they are brought out. Venture capitalists typically invest in high growth companies with the potential to generate revenues of $20MM in any one company, but typical investments range from between $500,000 and $5MM. Management experience is a major consideration in evaluating financing prospects. |
发表于 2012-8-16 09:04:37
