深圳市政府创业投资引导基金角色定位的思考

eflections on Role of VC Funds of Shenzhen Government

近年来,中央部委和地方政府设立引导基金形成热潮。深圳市政府也决定设立创业投资引导基金。本文总结各地政府引导基金发展的经验,结合深圳创业投资和产业发展状况,提出深圳创业投资引导基金应弥补创业投资的市场失灵问题,定位于推动战略性新兴产业的种子期、初创期项目,承担"天使投资人"的角色,并提出了创业投资引导基金的运作建议。

In recent years, there is a great development of the government-guided Venture Capital fired in China, the central ministries and local governments are selting up the government-guided Venture Capital fund in the country. The Shenzhen Municipal Government also decided to set up gnvernment-guided Venture Capital Fund. As the Government Venture Capital Fund is a new thing, all local governments ale exploring how to do it well. This paper summarizes the experience of the development of government-guided Venture Capital fund, the venture capital market and industry of Shenzhen, Propose that the role of the Shenzhen government-guided Venture Capital fund is to solve the market failures, focus on the new-horn companies in the emerging industries, take as the ＂angel investors＂ rnle. Based on that, and than propose several suggestions of how to operate it well.