我国产业(风险)投资基金的运作目前刚刚起步试点,市场对其微观层面的内涵实践和认识相当有限,发展过程中遇到了很多挫折,我认为造成投资失败的主要原因是逻辑和策略的失误: At present, the operation of China’s industrial (risk) investment fund has just started its pilot operation. The market practice and understanding of the connotation of its micro-level are rather limited and many setbacks have been encountered in the development process. I think the main reason for the failure of investment is the failure of logic and tactics: