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在万众创新的背景下,由于融资结构的错位,中小企业无法从传统资本市场上成功融得所需资金。同时,PE融资是近年来我国发展迅速的融资手段,但公众对PE的本质及发展了解甚微。因此,本文通过结合我国PE发展融资数据和文献进行分析,从融资渠道角度,结合中国未来产业发展方向,阐明了我国未来发展PE(私募股权投资)的必要性与重要性。最后,基于CVSource投中数据库及Wind数据库阐明我国PE融资的现状,通过PE融资的募、投、管、退四个运营环节分析,得出我国发展PE未来着力点应在于投后管理。最后,针对融资者群体提出相应的建议。
In the context of many innovations, due to the dislocation of the financing structure, SMEs can not successfully obtain the necessary funds from the traditional capital markets. Meanwhile, PE financing is a rapidly developing means of financing in China in recent years, but the public has little understanding of the nature and development of PE. Therefore, this article analyzes the financing data and literature of PE development in our country and expounds the necessity and importance of developing PE (private equity investment) in the future from the perspective of financing channels and in combination with the future development of China’s industry. Finally, based on the CVSource investment database and Wind database, the paper clarifies the current situation of PE financing in our country. Through the analysis of the four operating segments of PE financing, investment, management and withdrawal, it concludes that the future focus of PE development in China should be managed after investment. Finally, we put forward corresponding suggestions to the financier group.