摘要
从某种程度上说,风险投资在中国一直扮演着高高在上的高科技救世主角色。从各级政府部门以扶持高科技产业发展的名义出资成立的政府风险投资,到海外风险资金中国代理人频频出镜的身影,到那些融资到手的所谓的高科技精英,大家似乎又陷入了一个误区之中:只要有了风险投资,中国的高科技就有希望了。更有甚者,很多人还认为所谓的风险投资就一定要投资高风险的产业,一定要投资高科技公司。
The eyeballs of venture capitalists have now divertedto the profitability and cash folw,rather than focus,asthey once did,on the concept of hi-tech ofthe start-ups. Those diehards, the venturecapitalist who ignore the reality, will never bethe protagonists of the business arena.Venture capital is not a cure-all, as Chi-nese entrepreneurs used to believe.One cannotforget that, from the landing of venture capitalin China, these capitalists had to face the hardreality: the lack of retreat channel in capitalmarket; the absence of motivation mechanismin indigenous start--ups;the various strains of local poli-cies. Bound by all these restrictions, the capitalists foundout that it was a secondary issue to sift goodprojects, let alone the inerement. of value fromthe projects.Finally, venture capital becamethe best subject for some public companies toattract blind investors. Worse, some venturecapitalists, with an aim to make quick money,lent from banks low--interest loans to buyshares.Howewer, it is the banks that have to beresponsible. II
