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风险投资起源于第二次世界大战之后。美国风险投资协会将风险投资定义为:对新兴的、有巨大竞争潜力的企业中的一种权益性投资。风险投资不同于传统的投资行为,它是一个完整的投资过程,承担着研究开发、生产、市场营销、管理以及发展战略等多种风险的综合集约,它是创造企业的投资行为。风险投资的良性循环是由三个紧密关联的环节构成,即融资——投资——撤出——再融资——投资——撤出
Venture capital originated after World War II. The American Venture Capital Association defines venture capital as an equity investment in emerging companies that have great potential for competition. Venture capital is different from the traditional investment behavior. It is a complete investment process and carries the comprehensive intensification of various risks such as research and development, production, marketing, management and development strategy. It is to create the investment behavior of the enterprise. The virtuous cycle of venture capital is composed of three closely related links: financing - investment - withdrawal - refinancing - investment - withdrawal