摘要
2009年7月3日，杭州盈开投资管理有限公司的法人代表项建标和杭州市经济技术开发区创业投资引导基金（简称开发区创投）签约，发起成立了一期金额达1亿元人民币的杭州盈开创投基金。这是他个人由“草根投资者”转型做职业投资管理人的一个里程碑事件。某种意义上，也是浙江民间创投在摸索试错中走向规范化和职业化的一个缩影。
Liu Xiaoren,45,founder and legal representative of Hangzhou Hongding Venture Capital Co.,Ltd.,turned himself in at the publics ecurity bureau of Deqing county,Zhejiang province,on May 4.He confessed he borrowed over RMB200 million(US$29 million)since July 2006 by promising high interest rates and revenues for creditors,although he knew he would never be able to repay the debts.Liu's Hongding Venture Capital(VC)is one of the first venture capital companies in China,which made Liu a legendary figure in the industry and regarded as the'Angel big brother'and'No.1Angel investor.'His fall has cast a heavy shadow over the private VCs in Zhejiang.Private VC has been dynamic in Zhejiang.Originated from informal private borrowing and lending,it grew up wildly in a gray area.That's also the reason why Liu's case is an inevitable incidence in the process of industrial development towards profession and regularity.But every coin has two sides.The case will force investors to scrutinize the industry more calmly and rationally,and be aware of the risks they used to neglect.It also helps avoid more losses and stop private capital flowing into the immature market.With the current economic recovery,IPO restart on the domestic A-share market,and the upcoming Growth Enterprise Market,irrational speculations begin to rise again.Liu's fraud is undoubtedly in time to sober up China's private VC industry.
