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1、风险投资-方法和流程VentureFunding-OurMethodsandProcessesThroughoutmycareerinInvestmentBankingforthepastfewyears,andlaterinmycareeristPrivateEquity/VentureCapitalconsultingavatar,Ihaveoftencomeacrosspeopleseekingtoexploreourmethodsandprocesses.Hereisaprimer.Ourinvestmen
2、tprocessisoptimizedtorealizesubstantialreturnsfromearly-stagefirmsdevelopinghighvalued-addedcoretechnology.Ourprocessphasesare:1.DealFlow2.Evaluation3.Selection4.Decision5.ValueCreation6.LiquidityPlanningThesephasesprovidetimelyresponsestoentrepreneurs,ensureq
3、ualityportfoliocompanies,andsetthestageforourvalue-addedmodelpost-investment.1.DealFlowcomesfromourentrepreneurnetwork,syndicationpartners,andlaterstageventurecapitalfirms.Thesedealflowsourcesareattractedtousbyourabilitytoperformduediligenceandassistportfoliof
4、irmsinachievingcriticaltime-to-marketmilestones.Obtainingmostofourdealflowfromsuchqualifiedsourcesfreesupmoreresourcesforbuildingportfoliovalue.2.Evaluationbeginswiththeintroductionofabusinessplanthroughoneofthemembersofournetworkfollowedbyaface-to-facemeeting
5、andsubsequentinvestigation.Weassessesthestrengthandcompletenessoftheteam,thecompany'stechnology,competitiveadvantage,targetmarket,marketingplan,financialhistoryandprojections,andcapitalneeds.Theduediligencewillincludereferencecheckswithcustomers,industryexpert
6、s,andmanagementreferences.3.SelectionisbasedoninputfromourAdvisoryCommitteeandanalysisofteamindustryknowledge,technologydevelopmentcapabilitieswitha"deepscience"orientation,portfoliofit,time-to-marketfocus,targetmarketsizinganddynamics,competitivelandscapeande
7、ntrypoints,capitalizationtable,revenueprojectionsandsalescycles,andrecruitingcapability.4.Decisionrestsondiscussionsonperceivedvaluation,rolesofbothcurrentandpotentialco-investors,anddealterms.Aunanimousdecisionbythemanagingmembersisrequiredtoproceedwitheachin
8、vestment.5.ValueCreationisachievedbyassistingtheportfoliocompany'smanagementteaminimplementingandutilizingmethodologiesthatmanageandmonitortime-to-marketstrategiesusingprovenproces
