创业投资企业是对未上市创业企业进行股权投资和提供经营管理服务的企业,宜采取公司形式,采用可转换优先股和可转换债券为主的投资方式,通过投资合同管理和监督所投资创业企业,并通过创业企业第二板市场上市而转让股权等方式退出投资;应由证监会作为创业投资企业的行政管理机构,同时加强创业投资企业行业的自律性管理。 Venture capital enterprises, which are companies that invest in equity and provide management services for unlisted start-up enterprises, should adopt the form of a company, adopt convertible preference shares and convertible bonds as the main form of investment, invest and start-up enterprises through investment contract management and supervision , And exit the investment by way of transferring the equity through the listing of the second board of the start-up enterprise. The CSRC should be regarded as the administrative agency of the start-up enterprise and strengthen the self-discipline management of the venture capital enterprise.