甘肃生物产业基金投后管理创新研究
发布时间：2018-09-08 07:06
【摘要】：创业投资是指由专业的投资管理团队通过向初创期早中期的创业企业提供资金,并为其提供监控管理和增值服务,在创业企业发展到相对成熟的阶段后,通过转让股权来获取高额中长期收益的一种投资行为。通过分析研究,创业投资投后管理的核心在于“管理”。即通过提供管理支持,帮助创业企业制定并完善经营管理计划和战略规划,提供创业投资企业所尽可能拥有的社会资源网络等一系列增值服务,最终达到创业企业的价值增值和创业投资企业的资金退出的目的。甘肃生物产业基金成立于2012年5月。在有关方面的大力支持下,经过基金管理团队的努力工作,截止到2014年9月30日,甘肃生物产业基金已经按照既定投资决策程序完成了对陇神戎发药业等省内外8家优质企业的投资,投资总金额为22446.428万元,完成基金总额的74.82%。尽管根据国家有关规范性文件的规定,甘肃生物产业基金作为创业投资基金,在投后管理过程中一定要注重适度参与被投资企业的经营管理和投资决策,提供力所能及的增值服务。本文以甘肃生物产业基金“募、投、管、退”四个关键环节中的“管”为突破口,从实践和理论两个维度出发,在借鉴国内外创业投资投后实践经验和管理理论成果的基础上,客观地分析了甘肃生物产业基金投后管理当前的发展状况和存在的主要问题,然后从规范投资决策流程、安排投后管理人员强化常规管理、委托中介机构进行专项审计或提供咨询服务、委派专家团队全程提供技术指导、适度参与被投资企业经营决策和公司治理、根据被投资企业发展需求提供相应的增值服务、与其他战略投资者建立一致行动人关系、择机选择投资退出确保投资收益等八个方面提出了投后管理创新的主要策略,为甘肃生物产业基金以及类似的创业投资基金开展投后管理工作提供理论支持和经验借鉴。本文以甘肃生物产业基金投后管理创新为主线,通过对创业投资与风险投资相关概念的辨析和创业投资投后管理概念的界定以及创业投资投后管理相关理论成果与实践经验的分析研究,旨在对当前甘肃生物产业基金的发展现状和主要问题进行梳理、分析和总结、评价,在借助于历史文献研究、典型案例分析、数据分析、理论分析等研究方法的基础上,从理论和实践两个维度,提出了甘肃生物产业基金投后管理创新的主要策略和可能的预期效果以及相应的保障措施,为甘肃生物产业基金投后管理工作提供一定的理论指导和经验借鉴。
[Abstract]:Venture capital refers to that the professional investment management team provides funds, monitoring, management and value-added services to the start-up enterprises in the early and middle period of the initial period. After the venture enterprises have developed to a relatively mature stage, A form of investment that gains high medium-to-long-term returns by transferring equity. Through analysis and research, the core of venture capital investment management lies in "management". That is, by providing management support, helping start-ups to formulate and improve business management plans and strategic plans, and providing a series of value-added services such as social resource networks that venture capital enterprises have as far as possible, Finally, the value added and the capital withdrawal of the venture capital enterprises are achieved. Gansu Biological Industry Fund was established in May 2012. With the strong support of relevant parties, and thanks to the hard work of the Fund's management team, as of 30 September 2014, The Gansu Biological Industry Fund has completed the investment in 8 high quality enterprises inside and outside the province according to the established investment decision procedure. The total investment amount is 224.46428 million yuan and 74.82% of the total amount of the fund has been completed. Although according to the relevant national normative documents, the Gansu Biological Industry Fund, as a venture capital fund, must pay attention to appropriate participation in the operation, management and investment decisions of the invested enterprises in the post-investment management process. Provide value-added services as far as you can. This paper takes "management" in the four key links of "raising, investing, managing and withdrawing" of Gansu biological industry fund as a breakthrough, starting from the two dimensions of practice and theory, on the basis of drawing lessons from the practical experience and management theory achievements after investment in venture capital at home and abroad. This paper objectively analyzes the current development situation and main problems of the post-investment management of the biological industry fund in Gansu Province, and then, from standardizing the investment decision-making process, arranging the managers after the investment to strengthen the conventional management, To entrust intermediary institutions to conduct special audits or provide consulting services, to appoint expert teams to provide technical guidance throughout the course, to participate appropriately in the business decisions and corporate governance of the invested enterprises, and to provide corresponding value-added services according to the development needs of the invested enterprises, The main strategies of post-investment management innovation are put forward in eight aspects, such as establishing a consistent action person relationship with other strategic investors, choosing an opportunity to choose investment exit to ensure investment returns, etc. It provides theoretical support and experience for Gansu Biological Industry Fund and similar venture capital fund to carry out post-investment management. This article takes Gansu biological industry fund investment management innovation as the main line, Based on the analysis of the related concepts of venture capital and venture capital, the definition of the concept of post-venture capital management, and the analysis of relevant theoretical achievements and practical experience of post-investment management of venture capital, the paper analyzes and studies the related concepts of venture capital and venture capital. The purpose of this paper is to sort out, analyze and summarize the current development situation and main problems of the biological industry fund in Gansu Province, based on the research methods of historical literature research, typical case analysis, data analysis, theoretical analysis, etc. From the two dimensions of theory and practice, this paper puts forward the main strategies, the possible expected effects and the corresponding safeguard measures of the management innovation after the investment of Gansu biological industry fund. To provide some theoretical guidance and experience for Gansu biological industry fund management after investment.
【学位授予单位】：兰州大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F426.72
本文编号：2229740
[Abstract]:Venture capital refers to that the professional investment management team provides funds, monitoring, management and value-added services to the start-up enterprises in the early and middle period of the initial period. After the venture enterprises have developed to a relatively mature stage, A form of investment that gains high medium-to-long-term returns by transferring equity. Through analysis and research, the core of venture capital investment management lies in "management". That is, by providing management support, helping start-ups to formulate and improve business management plans and strategic plans, and providing a series of value-added services such as social resource networks that venture capital enterprises have as far as possible, Finally, the value added and the capital withdrawal of the venture capital enterprises are achieved. Gansu Biological Industry Fund was established in May 2012. With the strong support of relevant parties, and thanks to the hard work of the Fund's management team, as of 30 September 2014, The Gansu Biological Industry Fund has completed the investment in 8 high quality enterprises inside and outside the province according to the established investment decision procedure. The total investment amount is 224.46428 million yuan and 74.82% of the total amount of the fund has been completed. Although according to the relevant national normative documents, the Gansu Biological Industry Fund, as a venture capital fund, must pay attention to appropriate participation in the operation, management and investment decisions of the invested enterprises in the post-investment management process. Provide value-added services as far as you can. This paper takes "management" in the four key links of "raising, investing, managing and withdrawing" of Gansu biological industry fund as a breakthrough, starting from the two dimensions of practice and theory, on the basis of drawing lessons from the practical experience and management theory achievements after investment in venture capital at home and abroad. This paper objectively analyzes the current development situation and main problems of the post-investment management of the biological industry fund in Gansu Province, and then, from standardizing the investment decision-making process, arranging the managers after the investment to strengthen the conventional management, To entrust intermediary institutions to conduct special audits or provide consulting services, to appoint expert teams to provide technical guidance throughout the course, to participate appropriately in the business decisions and corporate governance of the invested enterprises, and to provide corresponding value-added services according to the development needs of the invested enterprises, The main strategies of post-investment management innovation are put forward in eight aspects, such as establishing a consistent action person relationship with other strategic investors, choosing an opportunity to choose investment exit to ensure investment returns, etc. It provides theoretical support and experience for Gansu Biological Industry Fund and similar venture capital fund to carry out post-investment management. This article takes Gansu biological industry fund investment management innovation as the main line, Based on the analysis of the related concepts of venture capital and venture capital, the definition of the concept of post-venture capital management, and the analysis of relevant theoretical achievements and practical experience of post-investment management of venture capital, the paper analyzes and studies the related concepts of venture capital and venture capital. The purpose of this paper is to sort out, analyze and summarize the current development situation and main problems of the biological industry fund in Gansu Province, based on the research methods of historical literature research, typical case analysis, data analysis, theoretical analysis, etc. From the two dimensions of theory and practice, this paper puts forward the main strategies, the possible expected effects and the corresponding safeguard measures of the management innovation after the investment of Gansu biological industry fund. To provide some theoretical guidance and experience for Gansu biological industry fund management after investment.
【学位授予单位】：兰州大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F426.72
【参考文献】
相关期刊论文 前1条
1 范秀岩,李延喜;风险投资后续管理的内涵[J];工业技术经济;2005年01期
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