Principles and Strategies of Venture Capital: Reflections and Transcendence of the Venture Capital Paradigm: Reflections and Transcendence of the "Venture Capital" Paradigm

Author: Liu Jianjun
Publisher:
Publish Date: 2003-11-01
Features: This book employs the methodology of linguistic analytical philosophy to rationally reconstruct the conceptual system of venture capital. From the perspective of "institutional innovation of investment systems that support entrepreneurship," it examines the origin, evolution, and development of venture capital systems. From the perspective of "capital management processes associated with entrepreneurship," it analyzes the operational mechanisms of venture capital. From the perspective of "collective investment systems adapted to the intrinsic requirements of venture capital," it explores the organizational systems of venture capital funds. From the perspective of "developing an entrepreneurial economy," it discusses the role of the government in the construction of venture capital systems. Based on a comprehensive analysis of the principles of venture capital through these four perspectives, the book then elaborates on the operational strategies of venture capital in five key stages: fund raising and organizational structure, project screening and due diligence, investment arrangements and value assessment, project monitoring and value-added services, and investment exit and profit distribution. While analyzing the principles, the book strives for thoroughness; while elaborating on the strategies, it focuses on elevating practical experience into theories with general reference value. During its two-year teaching process in the MBA program at the Guanghua School of Management, Peking University, the electronic version of the book was widely welcomed by students. Vice Dean Zhu Shanli of the Guanghua School of Management at Peking University praised the book as an "innovative achievement in venture capital education." Professor Chen Yaoxian, former Deputy Director of the Economic Policy Research Office of the State Council, commended the book as also being a "masterpiece of venture capital policy research." Its accurate summary of venture capital concepts, profound revelation of venture capital principles, and systematic discussion of venture capital system construction will serve as an important reference and inspiration for every scholar and policy researcher willing to explore the development of China's venture capital industry based on a pragmatic approach. Professor Wang Guogang, Deputy Director of the Financial Research Center at the Chinese Academy of Social Sciences, believes that the book's precise definition of basic concepts helps to fully grasp the extension of venture capital. Its comprehensive and all-round analysis of principles and strategies not only transcends the four aspects of the "risk investment" paradigm but also provides a new, high-level platform for subsequent researchers. Researcher Wang Shouren, Secretary-General of the Shenzhen Venture Capital Association, praised the book for clarifying the theory and practice of venture capital in at least ten aspects.