论风险投资的特点与诉讼的关系

Relationship between Features of Venture Capital and Suits

在风险投资关系有限合伙中,外部投资人与风险投资家的利益不总是一致的;此外,风险投资家也不能完全保证履行了忠实和勤勉的义务。因此外部投资人与风险投资家之间的矛盾不可避免。在探寻这种矛盾几乎从不升级为诉讼的原因时,我们发现:风险投资高风险、高收益的特点平衡了双方的心态;风险投资参与性的特点限制了外部投资人起诉的意愿;而风险投资循环性和信誉性的特点使得双方必须在处理纠纷的方式上有所克制,以寻求更长远的合作与发展。正是风险投资的这些特点使得风险投资有限合伙关系中几乎不存在诉讼。

In venture capital limited partnership, interests between outsider investors and venture capitalists are not often coherent; in addition, capitalists can not ensure their honesty and diligence. Thus, the conflicts between them are inescapable. While seeking why such conflicts never turn to be suits, we find that high risks and high return, as a feature of venture capital, balance the attitudes of the two parties; participancy of venture capital weakens the will of outsider investors to sue; circulation and reputation make the two parties keep tolerant in order to have more long-term cooperation. These factors make few suits occur in venture capital limited partnership.