风险投资-方法和流程.doc

风险投资-方法和流程 Venture Funding - Our Methods and Processes Throughout my career in Investment Banking for the past few years, and later in my careerist Private Equity / Venture Capital consulting avatar, I have often come across people seeking to explore our methods and processes. Here is a primer. Our investment process is optimized to realize substantial returns from early-stage firms developing high valued-added core technology. Our process phases are: 1. Deal Flow 2. Evaluation 3. Selection 4. Decision 5. Value Creation 6. Liquidity Planning These phases provide timely responses to entrepreneurs, ensure quality portfolio companies, and set the stage for our value-added model post-investment. 1. Deal Flow comes from our entrepreneur network, syndication partners, and later stage venture capital firms. These deal flow sources are attracted to us by our ability to perform due diligence and assist portfolio firms in achieving critical time-to-market milestones. Obtaining most of our deal flow from such qualified sources frees up more resources for building portfolio value. 2. Evaluation begins with the introduction of a business plan through one of the members of our network followed by a face-to-face meeting and subsequent investigation. We assesses the strength and completeness of the team, the companys technology, competitive advantage, target market, marketing plan, financial history and projections, and capital needs. The due diligence will include reference checks with customers, industry experts, and management references. 3. Selection is based on input from our Advisory Committee and analysis of team industry knowledge, technology development capabilities with a deep science orientation, portfolio fit, time-to-market focus, target market sizing and dynamics, competitive landscape and entry points, capitalization table, revenue projections and sales cycles, and recruiting capability. 4. Decision rests on discussions on perceived valuation, roles of b