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1、Venture Capital1Team:Liu heru Guo yutong Zhang ziran Sun hui Xiao min What is VC?Venture capital(VC)is a type of private equity that is invested in promising new business with high growth potential.2What a VC doesThe venture capital fund earns money by owning equity in the companies it invests in,wh
2、ich usually have a novel technology or business model in high technology industries,such as biotechnology,IT and software.3Mature markets Different VCs may target different industries such as:IT further split into niche areasAgri related BioinformaticsManufacturing-new materials Service4About DFJ Gr
3、owthDFJ backs extraordinary entrepreneurs who set out to change the world.DFJ is a venture capital firm that was founded in 1985.DFJ has backed more than 400 companies in enterprise,software,mobile,cleantech,energy,health care,and other categories.DFJs team operates across the globe and specializes
4、in many industries and geographies.DFJ works with companies in seed,early,and growth stages.56Some successful casesYahooSybaseSkype(acquired by eBay)7VC in ChinaIDG（Indigo Document Generator）International Data Group(IDG)is the world leading IT publishing,market research company.Founded in 1964,headq
5、uarter in Boston of the U.S.It is the first introduced into China8Geographical differences Venture capital,as an industry,originated in the United States,and American firms have traditionally been the largest participants in venture deals with the bulk of venture capital being deployed in American c
6、ompanies.However,increasingly,non-US venture investment is growing,and the number and size of non-US venture capitalists have been expanding.Venture capital has been used as a tool for economic development in a variety of developing regions.In many of these regions,with less developed financial sect
7、ors,venture capital plays a role in facilitating access to finance for small and medium enterprises(SMEs),which in most cases would not qualify for receiving bank loans.In the year of 2008,while VC funding were still majorly dominated by U.S.money($28.8 billion invested in over 2550 deals in 2008),c
8、ompared to international fund investments($13.4 billion invested elsewhere),there has been an average 5%growth in the venture capital deals outside the USA,mainly in China and Europe.Geographical differences can be significant.For instance,in the UK,4%of British investment goes to venture capital,co
9、mpared to about 33%in the U.S.9VC investment&exit10VC looks forTeam leadership,multidisciplinary,integrity,competence,domain knowledgeProject,productMarket,opportunity,growth expected,barriers to competitionExit avenue11Business Plansare to be forward looking,based on past knowledge of promoters and
10、 their work experience in the existing or new companyMust discount revenues expected,account for all expected costs and project expected cash flows12Future of VC in IndiaIndustry has not grown to meet needs of a variety of entrepreneursToo much money chasing too few projects,in select industries,not
11、 in the majorityPotential is there,needs to be tappedLack of appropriately trained persons to manage funds13SWOTStrengths:The VC firm can earn money by owning equity in the companies it invests in,and promote economic growth with good management.Weaknesses:The VC firm may lose money if it invest a c
12、ompany with bad management or in bad condition.opportunities:The VC firm gives opportunities to many entrepreneurs.Treats:If the VC firm runs well,the treats will be nice.14Question11、What other management challenges do you see for a U.S.-based venture firm that establishes operations in India?1.The
13、 firm will face some challenges of a lack of money,trained people,the government and so on.15Question33.Identify at least one Indian firm that has raised venture capital.Describe its business and estimate its likelihood for long-term success.And how about China?BlueRun Vc firm is a global Vc firm,th
14、e main information technology investment,the field of mobile phone and consumer electronics,is in the early stages of development of enterprises.India is the worlds most exciting,most advanced science and technology market.So investment in India enterprises means16About ChinaSequoia Capital China fu
15、nd,it is in good condition.It has invested in the Internet,communication/wireless,media/new media,health care,new energy and environmental protection,software/hardware/semiconductor I think it will be a success in the future.17That is all,thank you!18备注风险资本是投资于那些增长潜力大、颇具获利前景新公司的一种私募基金。19备注四风险资本基金通过持
16、有的公司股权投资赚钱，通常有一个新的技术或业务模型在高技术产业，如生物技术，IT和软件。也就是它赚得是股息。20备注不同的风险投资可能目标在不同的行业比如说IT.这个是比较热门的与农业相关的生物信息学制造新材料21备注五DFJ是一个成立于1985年的投资公司，它支持了400多个公司。其中涉及的领域有医疗、保健、软件等。它的投资最后逐渐获得了回报。22备注美国Sybase公司研制的一种关系型数据库系统，是一种典型的UNIX或WindowsNT平台上客户机/服务器环境下的大型数据库系统。Skype（中文名：讯佳普）是一款网络即时语音沟通工具，其具备IM所需的功能，比如视频聊天、多人语音会议、多人聊
17、天、传送文件、文字聊天等功能。23美国国际数据集团（International Data Group）是全世界最大的信息技术出版、研究、会展与风险投资公司。IDG公司2005年全球营业总收入达到26.8亿美元。IDG集团公司创建于1964年，总部设在美国波士顿。24备注三风险投资起源于美国美国企业是历来风险投资交易的参加者，目前风险投资资本大部分已被部署在美国公司。2008年，美国风险投资额度为28.8亿美元。国际资金投资有百分之五主要在中国、欧洲和以色列。25备注领导团队，多学科，诚信，能力，领域知识项目，产品，USP市场，机会，增长预期，竞争壁垒出口大道26备注基于在现有新公司的工作经验的
18、者过去的知识要向前看。必须为所有的预期成本和预期现金流量账户降低收入预期27备注行业还没有发展到能够满足多种需要的企业家太多的钱追逐太少的项目潜力有待被发掘缺少有能力的人来管理资金28问题1.你认为在印度的美国风险投资公司还会遇到哪些管理挑战？3.至少确认一家风险资本的印度公司，阐述其目前的经营状况，并预计它未来成功的可能性，中国的呢？29答案1.我认为在将来在印度的风险投资会遇到人才，货币，环境和政府稳定等挑战。同时从业人员专业技能和素质良莠不齐，服务水平和队伍不齐。3.BlueRun风险投资公司是一家全球性的风险投资公司，主要投资信息技术，手机和消费电子领域，是处于发展初期的企业。印度是全球最令人振奋，最先进的科技市场。所以投资印度企业意味着巨大商机，未来他的成功性很大30