试论风险投资的退出机制

在风险投资运作过程中 ,退出机制是风险投资成败的关键环节。退出的关键在于风险资本需要一个成功从原投资企业撤出投资的“出口” ,以便进行新一轮的投资 ,实现资本的增值。策划风险投资的退出 ,在种子期、创业期和成长期都有不同的方式。

Discussion on the "Withdraw Mechanism" about Risky Investment

In the operating of risky investment, the "Withdraw Mechanism" is the key link related to the success or the failure of risky investment. The key point to the "Withdraw" is that the risky capital needs an "exit" for the investment to withdraw from original investment enterprise, so as to carry on the next investment, to make the capital rise in value. There are various ways to withdraw the risky investment in its seed period, its pioneering period and its growing period.