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制约我国创业投资发展的因素很多，例如政府在创业投资中的定位不清晰；创业投资的法律、法规、金融等环境缺陷；创业投资的专业人才匮乏；退出通道不畅等等。上述诸多因素中，对创业投资发展制约最大的是退出通道的不健全。依据我国现有法律规定和资本市场发育程度，产权挂牌交易、离岸公司境外上市、管理层收购、境内借壳上市与资产置换相结合是我国创业投资退出通道的现实选择。
There are many factors that restrict the development of venture capital in our country. For example, the government’s position in venture capital is not clear; environmental defects such as laws, regulations and finance of venture capital; lack of professionals in venture capital; Among the above factors, the most restrictive factor for the development of venture capital is the imperfect exit from the channel. According to China’s existing law and the degree of development of capital markets, the combination of property rights listing, offshore listing of offshore companies, management buyouts, domestic backdoor listing and asset replacement are the realistic choices for China’s exit from venture capital.