中国创业投资基金组织结构与立法模式探讨

The Discussions of Organizational Stucture and legel Frame of Venture Fund in China

国际创业投资基金制度经过半个多世纪的演进 ,其外延已扩展到所有以私人股权方式进行运作的投资基金品种。但鉴于中国的实际 ,中国的创业投资基金应该严格界定在狭义创业投资基金层面。在此基础上 ,本文对中国创业投资基金的组织结构与立法模式进行了探讨。作者认为 ,中国的创业投资基金宜首先从公司型起步 ,以建立起既能体现投资者的所有权约束又能保障管理者经营权具有相对独立性的产权分立机制 ;但根据创业投资基金公司运作的自身特点 ,又有必要通过制定特别法的方式 。

With half century's development in the world,venture fund has opened up its investment domain to almost all private equity. However,it is neccesary for china to definite venture fund in a narrow sense. In view of this venture fund concept, the organizational structure and legel frame has been discussed in the paper. As for china, it is more proper for venture fund to elect corporated type, and enact a special corporate law to provide special legel frame in 16 aspects for venture fumd.