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时间:2020-04-03
《风险投资常用术语中的英文解释.doc》由会员上传分享,免费在线阅读,更多相关内容在应用文档-天天文库。
1、风险投资常用术语中的英文解释(3)来源: 日期:2008-07-0400:00:00 阅读62次 作者:NB-C- CAGR:CompoundAnnualGrowthRate.Theyearoveryeargrowthrateappliedtoaninvestmentorotheraspectofafirmusingabaseamount. CallOption:Therighttobuyasecurityatagivenprice(orrange)withinaspecifictimeperiod. Capi
2、tal(orAssets)UnderManagement:Theamountofcapitalavailabletoafundmanagementteamforventureinvestments. CapitalCall:Alsoknownasadrawdown-Whenaventurecapitalfirmhasdecidedwhereitwouldliketoinvest,itwillapproachitsinvestorsinorderto"drawdown"themoney.Themoneywillalread
3、yhavebeenpledgedtothefundbutthisistheactualactoftransferringthemoneysothatitreachestheinvestmenttarget. CapitalGains:Thedifferencebetweenanasset'spurchasepriceandsellingprice,whenthesellingpriceisgreater.Long-termcapitalgains(onassetsheldforayearorlonger)aretaxed
4、atalowerratethanordinaryincome. CapitalizationTable:Alsocalleda"CapTable",thisisatableshowingthetotalamountofthevarioussecuritiesissuedbyafirm.Thistypicallyincludestheamountofinvestmentobtainedfromeachsourceandthesecuritiesdistributed——e.g.commonandpreferredshare
5、s,options,warrants,etc.——andrespectivecapitalizationratios. Capitalize:Torecordanoutlayasanasset(asopposedtoanExpense),whichissubjecttodepreciationoramortization. Captivefunds:Aventurecapitalfirmownedbyalargerfinancialinstitution,suchasabank. CarriedInterest:Th
6、eportionofanygainsrealizedbythefundtowhichthefundmanagersareentitled,generallywithouthavingtocontributecapitaltothefund.Carriedinterestpaymentsarecustomaryintheventurecapitalindustry,inordertocreateasignificanteconomicincentiveforventurecapitalfundmanagerstoachiev
7、ecapitalgains. CashPosition:Theamountofcashavailabletoacompanyatagivenpointintime.ClaimDilutionAreductioninthelikelihoodthatoneormoreofthefirm'sclaimantswillbefullyrepaid,includingtimevalueofmoneyconsiderations. Catch-up:Thisisacommontermoftheprivateequitypartne
8、rshipagreement.Oncethegeneralpartnerprovidesitslimitedpartnerswiththeirpreferredreturn,ifany,itthentypicallyentersacatch-upperiodinwhichitreceivesthemaj
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