【正文】 畢業(yè)設計（論文） I 摘要 風險投資是指個人或機構通過一定方式籌集資本，以股權投資的方式將其投入具有高成長潛力的未上市創(chuàng)業(yè)企業(yè)，并通過提供管理服務參與企業(yè)的經營，以期獲取企業(yè)創(chuàng)業(yè)成功后的高資本增值的一種資本投資方式。自 20世紀 80 年代中 期 我國引入風險投資這個概念以來，學術界就對風險投資進行了大量的研究，但是對風險投資機構的風險控制問題缺乏整體系統的探討。作為風險投資三大主體之一，風險投資機構是風險資金流動的中心樞紐，在整個風險投資周期中起到了融資、投資、咨詢管理的作用，因此，它的風險控制直接決定了 其 運作的有效性和經濟性。 本文采 用規(guī)范分析的方法，首先闡述了我國風險投資現狀，并對我國風險投資機構的發(fā)展及其階段性特點做出概括。我國風險投資機構是在政府資本的大力扶植下逐漸發(fā)展起來的，隨著改革開放步伐的加快，越來越多的 民間資本和外商資本也參與其中，外商投資者 在功能上對推動中國風險投資發(fā)展起到了啟動作用，對于我國本土投資者進行風險資本投資具有很好的示范作用。隨后，文章著眼于完整的風險投資周期，分別從融資階段、投資階段、退出階段對風險投資機構面臨的風險進行分析，并結合我國實際情況，針對不同 階段 風險提出相應防范措施。 關鍵詞 風險投資機構；融 資；投資；資本退出；風險控制 畢業(yè)設計（論文） II Abstract Venture Capital is an investment form , which must be raised by individuals or institutions with some form of capital, to form the equity investment in high growth potential in unlisted panies, and involved in enterprise management by providing management servvices. Venture capital can gain high ine by the business success of venture enterprise. As one of the three main bodies of venture capital, venture capital institution is the center for the flow of capital, and plays the key role of raising and investing and consulting in the venture capital cycals, So its operational effectiveness and economics largely depends on the risk control . This paper uses Normative Analysis , firstly ,expounds the current situation of venture capital investment in China,then summarizes its development and characteristics of venture capital investment anizations in China were developped by the support of public capital, as the pace of reform and openingup quickens, more and more investors abroad are involved, starting the development of venture capital investment in China,and giving an good example to the venture capital investors from native country .Secondly,this paper focuses on the fullyformed venture capital investment cycle,analyses the risks that venture capital investment anizations may face from financing stage ,to investment stage, then to reward the practical situation in China ,this paper es up with relevant precautionary measures to different risks. Keywords venture investment institution； financing； investment。capital exiting。 venture control 畢業(yè)設計（論文） I 目錄 摘要 ...............................................................................................................................I Abstract ..................................................................................................................... II 第 1 章 緒論 ............................................................................................................... 1 寫作背景及意義 ............................................................................................. 1 文獻綜述 ........................................................................................................... 2 國外研究現狀 ........................................................................................... 2 國內的研究 ............................................................................................... 3 主要內容及結構安排 ...................................................................................... 4 主要內容 .................................................................................................... 4 結構安排 .................................................................................................... 5 創(chuàng)新與不足 ....................................................................................................... 5 第 2 章 相關理論 ....................................................................................................... 6 風險投資 ........................................................................................................... 6 風險投資的概念 ....................................................................................... 6 風險投資的特點 ....................................................................................... 6 風險投資市場與其他投資市場的區(qū)別 .................................................. 7 風險投資的作用 ....................................................................................... 8 風險投資機構 .................................................................................................. 9 風險投資機構的類型 ............................................................................... 9 我國風險投資機構的發(fā)展及其階段性特點 ....................................... 11 風險投資機構的核心作用 ..................................................................... 14 第 3 章 風險投資機構風險分析 ............................................................................ 15 風險投資機構在融資階段面臨的風險 ....................................................... 15 再融資風險 ............................................................................................. 15 委托代理風險 ......................................................................................... 15 風險投資機構在投資階段面臨的風險 ....................................................... 16 創(chuàng)業(yè)企業(yè)的運作風險 ............................................................................. 16 委托代理風險 ......................................................................................... 18 風險投資機構在退出階段面臨的風險 ....................................................... 18 外部風險 .................................................................................................. 19 畢業(yè)設計（論文） II 內部風險 .................................................................................................. 21 第 4 章 風險投資機構風險控制措施 ................................................................... 22 風險投資機構在融資階段的風險控制措施 ............................................... 22 再融資風險控制 ..................................................................................... 22 委托代理風險控制 ................................................................................. 24 風險投資機構投資階段風險控制措施 ....................................................... 27 風險投資機構投資決策過程風險控制 .