Research On The Operation Management Of Venture Capital Of AVC

As a new type of investment and financing mode, venture capital can effectively speedup the transformation of scientific and technological achievements through the flow of capitalelements, and plays an important role in supporting new and high technology enterprisedevelopment, promoting social innovation and economic development. At present, venturecapital is just a fledgling in China compared with the developed countries, and itscontribution to the social and economic needs to be improved. Under the background of ourcountry to speed up the construction of an innovative country, the study of venture capital hasan important practical significance. Researching and summarizing the experience that newand high technology enterprises realize the rapid appreciation of the capital in the process ofventure capital and maximizing the enterprise value, has an important theoretical significanceto consummate the theoretical system of venture capital. At the same time it has veryimportant practical significance for the invested enterprise, venture capital agencies andrisk-takers.This paper use literature induction, case analysis method and theories of venture capitalfinancing to analyze the operation process of venture investment project of the Beijing NUKtechnology company. The paper summarized the successful experience of this venture capitalproject from the subject, innovations in each stage and the exit mechanism, and emphasizedthe importance of two-way choice and strategic decisions in different stages. According to theprocess of venture capital in the case, this paper mainly introduces the process of seed period,growth period and mature period, hostile takeover during the process, IPO and venture capitalexit. The key was the choice of venture capital subject, invest form of seed period, the role ofventure capital between scientific research and market, the role of venture capital duringindustry competition, development direction of venture capital industry and experience andenlightenment of the exit of venture capital.The paper draws the following main conclusions:(1) Early seed investment companiesthat have college and university background have obvious advantages, venture capitalinstitutions and universities or research institutions should establish good relations ofcooperation.(2) Venture capital in seed period is the bridge of scientific research and market. (3) Venture capital institutions should provide capital as well as services in seed period.(4)Professional venture capitalists would escort for the development of the enterprises.(5) Todominate the whole industrial chain would be the development direction in the field ofventure capital.