风险投资的前提是风险,我们允许一定的失败率,目前君联资本的失败率大约为百分之十几,这是我们可以容忍的随着IPO开闸,这一轮VC行业调整即将告一段落。过去的两三年,被很多人认为是行业的冬天,毕竟投资的退出渠道窄了很多。但困难是相对的,有能力的VC在选择LP上有主动权。君联资本的LP数量不多,但投资周期都在8年以上,这给作为GP的我们更多抵抗外部不可控风险及投资周期的空间。有能力的VC还可以选择多种退出渠道,A股IPO不行了,那么可以去海外上市、借壳上市,以及并购退出。 The premise of venture capital is risk, we allow a certain failure rate, the current rate of failure of the capital of the Monarchy is about ten percent, which we can tolerate With the IPO gate, this round of adjustment of the VC industry is about to come to an end . In the past two or three years, many people think that the winter industry, after all, investment exit channels much narrower. But the difficulty is relative, capable VCs have the initiative in choosing LPs. Wealth Capital has a small number of LPs, but the investment cycle is more than eight years. This gives us more space to resist the external uncontrollable risks and the investment cycle as the GP. VC has the ability to choose a variety of exit channels, A-share IPO die, then you can go overseas listing, backdoor listing, and exit the merger.