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风险投资具有循环性,它是以“投资—撤资—再投资”的资金运作方式为特征的,在这个循环中“撤资”是核心部分,因为能否顺利撤资,即风险资本能否从风险企业中成功退出,不仅关系到前期投入的资金是否能收回,而且还关系到资本循环是否能顺利进行下去。如果没有方便、快捷的退出机制,风险投资就无法实现投资增值,就会失去发展的动力,就
Venture capital is a cyclical one. It is characterized by the mode of operation of funds such as “investment - divestment - reinvestment”. In this cycle, “divestment” is the core part because the smooth withdrawal of capital, that is, venture capital Whether or not to withdraw from a venture enterprise is not only related to whether the capital invested in the previous period can be recovered, but also whether the capital circulation can proceed smoothly. Without a convenient and expeditious exit mechanism, venture capital can not realize the added value of its investment and will lose the impetus for its development.