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风险投资不仅是一种投资行为,而且是融资与投资相结合的一个过程。融资是风险投资运作的前提,也是风险投资公司(或基金)的首要任务。只有筹集到充足的风险资本,并以此建立起一定形式的风险投资公司(或基金),才能够顺利地展开风险投资的整个运作。欧美国家的风险资本来源多种多样,其风险投资公司(或基金)所采取的组织形式也各不相同。本文将详细比较欧美国家的风险资本来源和主流组织形式,找出其异同点,并分析各自利弊所在,由此得出一定的结论。
Venture capital is not only an investment behavior, but also a process of combining financing with investment. Financing is a prerequisite for the operation of venture capital and a top priority for venture capital firms (or funds). Only by raising a sufficient amount of venture capital, and thus to establish a certain form of venture capital firms (or funds), can successfully carry out the entire venture capital operation. The sources of venture capital in Europe and the United States are varied, and the forms of organization adopted by venture capital firms (or funds) are also different. This article will compare the source of venture capital and the mainstream organizations in Europe and the United States in detail, find out the similarities and differences, and analyze the advantages and disadvantages of each, and draw some conclusions.