我国发展风险投资事业于 80年代中期创建以来 ,风险投资机构运作效果并不理想 ,其主要原因在于我国尚未建立起完善的风险投资机制。本文在分析存在的主要问题的基础上 ,探讨了风险投资机制模式的构造 ,即 :以政府资金为引导 ,民间资本为主体的风险资本筹集机制和循环机制 ;市场化的风险资本运作机制 ;完善的退出机制 ;有力的政策法规支持。 Since the establishment of venture capital in China in the mid-1980s, the operation of venture capital institutions has not been satisfactory. The main reason is that China has not yet established a sound risk investment mechanism. Based on the analysis of the main problems, this paper explores the structure of the venture capital mechanism model, namely: the capital raising mechanism and circulation mechanism of venture capital, which is guided by government funds and private capital; the market-oriented operation mechanism of venture capital; Exit mechanism; strong policies and regulations to support.