(1) the government finance and enterprise capital. China's RMB venture capital funds source is rich, are mainly in the government finance and enterprise capital.
(2) the large and medium-sized state-owned enterprises have ample cash reserves, has rich experience in the industry and investment, M & A and enterprise operation and other aspects, has the natural conditions of equity investment.
(3) listing Corporation. Two years ago, the activity of capital market has attracted a large number of listing Corporation equity investment, the company has set up a special part of the venture capital fund, and the formation of "the concept of venture capital plate in the A shares market".
(4) private enterprises. Although the private enterprise the overall scale is small, but the number of large, flexible operation, preference of venture capital investment and other high risk high return business, and one of the most important sources of capital in recent years is also a local venture capital fund. Especially in Jiangsu and Zhejiang, the Pearl River Delta and other private capital abundant area, is active in a number of private enterprises funded by the venture capital fund.
Wealthy individuals (5). Compared with western countries, China's affluent class scale is small, the concept of venture capital investment is not strong.
(6) securities. Due to the general investment banking firms have, in the enterprise investment, restructuring, mergers and acquisitions and the listing from rich experience, and has engaged in equity investment business advantage. At present, CITIC, CICC has been allowed to conduct direct investment business, at the same time, the SFC will further expand the pilot securities companies direct investment. With the broker finger business increasingly mature securities capital will by focusing on mature enterprise investment gradually into the field of venture capital investment.
(7) the social security fund. In Europe and the United States, the pension fund is the main source of funds of venture capital fund. In 2008 May, the national social security fund disclosure has obtained independent investment commission approval and filing of the equity investment fund decision-making power. The upper limit of investment funds management scale of social security fund 10%, or about 50000000000 yuan. According to media reports, the social security fund has invested with Hirotake and Ding Hui investment of RMB fund to invest a total of 2000000000 yuan. It can be foreseen that the social security fund will also become an important source of funds to the domestic venture capital funds and private equity funds.
(8) the banking, insurance and other financial institutions. Due to the direct investment banks received the relevant regulatory restrictions, so in general by the establishment of an independent department or negative company investment; insurance companies in addition to equity venture capital fund, also set up a separate venture capital fund. In China, banks and insurers still can not directly invest in venture capital funds, but with the broker, the social security fund equity investment business development and mature, banks and insurers are also expected to be allowed to make the relevant investment.
(9) foreign funds. At present, in the territory of China foreign venture capital mainly comes from the foreign venture capital funds, and generally through the establishment of RMB venture fund and local venture capital funds or local governments to obtain permits and the amount of funds for investment in China by.
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