论金融危机下的中小企业权益融资.pptx

Session 4: Equity Financing for SMEs in Face of the Financial Crisis 第四节：金融危机下的中小企业权益融资 Dr Chris Hall CEO, Comnami, PECC SME Network LeaderChris.Hall@; Framework pro equity financing for SMES 中小企业权益融资背景介绍 Trends of VC PE as funding sources for SMEs; and the impact of the 2008 Financial Tsunami on VC sources 中小企业基金（风投、私募）的发展趋势；2008金融海啸对风险资本来源的影响 Issues and challenges 问题与挑战 ;1. Framework Pro Equity in SMEs 中小企业权益融资背景介绍 ;本资料来源;Risk and growth finance requires equity and is important to SMEs 风险和成长型企业需要权益融资，对中小企业非常重要 ;Large public listed Large private 大型上市公司、大型私营企业 Listed: Nasdaq, OTC, GEM, Mother 在纳斯达克、场外市场、香港创业板市场上市 Formal equity: VC and PE, funds 正规权益：风险资本、私募资金 Informal equity (angels, nanyangs private investors, etc) 非正规权益（天使资金、私人投资者等） Micro own-equity, boot strap and sweat equity, often mixed with debt (eg owners credit cards 小额自有权益资金、血汗股权， 通常与债务混合在一起（如企业所有者的信用卡） ;Large public listed Large private Listed: Nasdaq, OTC, GEM, Mother Formal equity: VC and PE, funds LBO MBO etc Informal equity (angels, nanyangs private investors, etc) Micro own-equity, boot strap and sweat equity, often mixed with debt (eg owners credit cards ;VC is usually modelled on certain principles... 风险资金的投资原则;Benchmark modelling of SME finance needs in APEC 亚太地区中小企业融资需求的基准模型;Benchmark pattern of SME finance needs in APEC 亚太地区中小企业融资需求的基准模式;2. Trends in Venture Capital; the impact of the 2008 Financial Tsunami 风险投资的发展趋势；2008金融海啸的影响 ;Growth of early stage and total VC in USA has slowed since 2001 美国早期阶段的风投和总风险资本自2001年以来放缓增长;China VC figures are relatively small, but growing 中国的风险资本额相对较小，但是在增长;China total VC is only about 3% of US total VC 中国的总风险资本仅占美国总额的3%;average deal size is more volatile in China 中国平均每笔交易规模具有更大的波动性; anecdotal impact of the 2008 Financial Tsunami on equity funds 2008金融海啸对权益资金史无前例的影响;3. Issues and Challenges 问题与挑战 ; Issues and challenges – immediate 近期的问题与挑战;1、每一个成功者都有一个开始。勇于开始，才能找到成功的路。八月-20八月-20Wednesday, August 05, 2020 2、成功源于不懈的