风险资本的投融资机制 风险投资在现实中是指融资与投资相结合的一个过程,是一种买方金融业务。买方金融的典型特征是首先要筹集一笔资金,而这笔资金是以权益资本的形式存在的;然后以所筹资金购买刚刚经营或已经经营的企业的资产。买方金融的利润主要来自资产买卖的差价,而卖方金融——商业银行的利润则来自存贷款间的利息差额。 Venture capital investment and financing mechanism Venture investment in reality refers to a combination of financing and investment process is a buyer’s financial business. A typical characteristic of buyer finance is to raise a fund first, which is in the form of equity capital; and then use the funds raised to buy the assets of a newly-run or already-run enterprise. The buyer’s financial profit mainly comes from the spread of asset sales, while the seller’s financial-commercial bank’s profit comes from the interest difference between deposits and loans.