国家创业风险投资受托管理项目股权投资定性和定价浅析

Analysis on the Quantitative and Pricing Stock Investment from National Entrusted Venture Capital Management Instituations

根据财政部、国家发展改革委《关于产业技术研究与开发资金试行创业风险投资的若干指导意见》（财建[2007]8号）的相关要求，2007年上半年国家创业风险投资受托管理机构授权成立，标志着我国的国家创业风险投资工作的启动。总结已经完成和即将完成的投资项目经验，以及当前正在遴选的数十个项目的评价经验，并在结合国家创业风险投资的相关政策要求、参考相关文献的基础上，本文对国家创业风险投资过程中股权投资定性和股权投资定价模式进行了分析。

According to Some Guiding Opinions of the Ministry of Finance and the State Development and Reform Commission on Experimenting the Use of Venture Capital as Industrial Technology Research and Development Funds （No. 8 [2007]） and its relevant requirements, the national entrusted venture capital management institutions was authorized and established in the first half year of 2007, which indicates the startup for the national use of venture capital. By eoncluding the finished and tobe-finished investment project, and the judging experiences on selecting projects, and combine with corresponding policies and referenees of national venture eapital, this paper studies the quantitative and pricing of stoek investment during the process of national venture capital movements.