Venture_Capital_风险投资2

单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,Venture Capital,1,Team:Liu heru Guo yutong Zhang ziran Sun hui Xiao min,Whatis VC?,Venture capital(VC)isa type ofprivate equitythatis invested inpromisingnewbusiness with high growthpotential.,2,Whata VCdoes,The venture capitalfundearnsmoney byowning equity in thecompaniesit invests in,which usuallyhavea novel technology or businessmodel inhightechnologyindustries,such asbiotechnology,IT and software.,3,Mature markets,DifferentVCs may targetdifferentindustriessuchas:,IT furthersplit into niche areas,Agrirelated,Bioinformatics,Manufacturing-newmaterials,Service,4,AboutDFJGrowth,DFJ backsextraordinary entrepreneurs who setoutto changethe world.,DFJ is a venture capitalfirmthatwas founded in1985.DFJhas backedmorethan400companiesin enterprise,software,mobile,cleantech,energy,health care,and othercategories.DFJ,s team operates across the globe and specializesin many industries and geographies.DFJworkswithcompaniesin seed,early,andgrowth stages.,5,6,Somesuccessfulcases,Yahoo,Sybase,Skype(acquiredby eBay),7,VC inChina,IDG,（,Indigo DocumentGenerator,）,International Data Group(IDG)istheworldleading IT publishing,marketresearchcompany.,Founded in1964,headquarter in Boston of theU.S.,It isthefirstintroduced into China,8,Geographical differences,Venture capital,asan industry,originated in theUnited States,andAmerican firmshavetraditionally been the largestparticipants in venturedealswiththebulkof venturecapital beingdeployed in Americancompanies.However,increasingly,non-US ventureinvestmentis growing,and thenumber and size ofnon-US venturecapitalists have been expanding.,Venture capital has beenusedas a tool for economic development in a varietyof developing regions.In manyof these regions,withless developed financialsectors,venturecapital plays a role infacilitatingaccess to financefor small and medium enterprises(SMEs),whichin most cases would notqualify forreceiving bank loans.,In theyearof 2008,while VCfunding werestillmajorly dominatedby U.S.money($28.8 billioninvested inover 2550 deals in2008),compared to international fund investments($13.4 billioninvested elsewhere),there hasbeenan average 5%growth inthe venturecapital deals outside the USA,mainly in China and Europe.Geographical differences can besignificant.For instance,inthe UK,4%of British investment goes to venturecapital,comparedto about 33%in the U.S.,9,VC investment&exit,10,VC looks for,Team,leadership,multidisciplinary,integrity,competence,domainknowledge,Project,product,Market,opportunity,growth expected,barriers to competition,Exit avenue,11,Business Plans,are tobe forwardlooking,based onpast knowledge ofpromoters and their workexperiencein theexisting ornew company,Must discount revenues expected,account for allexpected costs and project expectedcashflows,12,Futureof VCin India,Industry hasnot grown to meetneedsof avariety of entrepreneurs,Too much money chasing too fewprojects,in select industries,not in the majority,Potential isthere,needs to be tapped,Lack of appropriately trainedpersons to managefunds,13,SWOT,Strengths:The VCfirmcan earn money byowningequity in the companiesit investsin,and promote economic growth with goodmanagement.,Weaknesses:TheVC firm maylose money if it investa company with badmanagementor inbad condition.,opportunities:The VC firm gives opportunitiesto many entrepreneurs.,Treats:Ifthe VC firmrunswell,the treatswillbe nice.,14,Question1,1,、,What other management challenges doyou see fora U.S.-basedventure firm thatestablishesoperationsin India?,1.Thefirm will face some challengesof alack of money,trainedpeople,thegovernmentand soon.,15,Question3,3.Identify at least oneIndianfirmthat has raised venturecapital.Describeits businessand estimate itslikelihood for long-termsuccess.Andhow about China?,BlueRun Vc firm isa global Vcfirm,the main information technology investment,thefieldof mobile phone and consumerelectronics,is inthe early stagesof development ofenterprises.Indiais the worlds most exciting,mostadvanced science and technology market.Soinvestmentin India enterprises means,16,AboutChina,SequoiaCapital Chinafund,it isin goodcondition.It has investedin theInternet,communication/wireless,media/newmedia,healthcare,new energy andenvironmentalprotection,software/hardware/semiconductorI thinkit will be asuccessin thefuture.,17,That isall,thank you!,18,备注,风险资本是投资,于,于那些增长潜力,大,大、颇具获利前,景,景新公司的一种,私,私募基金。,19,备注四,风险资本基金通,过,过持有的公司股,权,权投资赚钱，通,常,常有一个新的技,术,术或业务模型在,高,高技术产业，如,生,生物技术，,IT,和软件。也就,是,是它赚得是股息,。,。,20,备注,不同的风险投资,可,可能目标在不同,的,的行业,比如说,IT.,这个是比较热门,的,的,与农业相关的,生物信息学,制造新材料,21,备注五,DFJ,是一个成立于,1985,年的投资公司，,它,它支持了,400,多个公司。其中,涉,涉及的领域有医,疗,疗、保健、软件,等,等。它的投资最,后,后逐渐获得了回,报,报。,22,备注,美国,Sybase,公司研制的一种,关,关系型数据库系,统,统，是一种典型,的,的,UNIX,或,WindowsNT,平台上客户机,/,服务器环境下的,大,大型数据库系统,。,。,Skype,（中文名：讯佳,普,普）是一款网络,即,即时语音沟通工,具,具，其具备,IM,所需的功能，比,如,如视频聊天、多,人,人语音会议、多,人,人聊天、传送文,件,件、文字聊天等,功,功能。,23,美国国际数据集,团,团（,InternationalData Group,）是全世界最,大,大的信息技术出,版,版、研究、会展,与,与风险投资公司,。,。,IDG,公司,2005