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在线投资:风险资本投资新趋势

专栏国际资讯投融资

在线投资:风险资本投资新趋势

Online Investing: the new trend for VCs

近来美国风险资本(VC)业资金充足,各VC公司争相投资发展势头强劲的初创企业,从而使这些创业者获得了融资条款的话语权。Pitchbook统计显示,美国闲置风险资本(即已筹集但尚未投资的资本)总计达770亿美元,仅2014一年的闲置额就达278亿美元,占比36%。

更麻烦的是,约有330亿美元的闲置资本困于呆滞基金中,鲜有用于投资活动。因此为盘活闲置资本(尤其是这330亿美元),风投公司挤入创业公司投资市场,与大部分通过股票众筹平台投资的散户投资者争抢这一块“香饽饽”。

在此行业结构变动的背景下,各公司必须发展独特的策略以保持自己的优势,包括设法得到最挣钱的投资机会以增加他们的借贷量。

近期风投行业的借贷量与交易规模突增,原因之一就是风投公司开始和其他类投资者(例如私募公司和对冲基金)进行合作投资,所以2500万美元至5000万美元的交易已是业界常态。

但为了充分从这一趋势中获利,风投公司需要向线上发展投资活动。线上私人投资近来广为风行,使得另类融资渠道的借贷量大幅上升。P2P借款平台和众筹平台的成功也证明了这一点。

这些年轻的fintech平台利用科技破坏了风险资本行业,让那些创业企业在初期能够获得低成本资金,并且无需分出自己企业的大量股票份额。

风投公司的投资活动主要局限于其本地市场,只有几家将触角伸及了其他高回报市场。这情有可原,毕竟进行核心活动需要大量资源,如召开董事会,而且监察初创企业的运营情况往往在本地并不能做到。

但通过利用网络进行投资,风投公司就能扩大他们的业务范围,有机会得到本地市场之外更多的投资机会和接触到更广的职业网络。

With the U.S. venture capital industry recently brimming with funds, entrepreneurs are now able to influence financing terms across an assortment of VC firms looking to invest in promising startups.

According to?Pitchbook, the total US VC capital overhang (accumulated capital raised, but yet to be invested) stands at $77 billion, with the overhang in 2014 alone accounting for approximately 36%, or US$27.8 billion.

To further complicate things, it is estimated that about US$33 billion of the total overhang value is trapped in inactive vehicles where investment activity has been slow. As a result, VCs face the challenge of releasing the capital overhang, especially the US$33 billion in non-performing funds, into a market that has also been keenly contested for by micro-investors, mostly operating through equity crowdfunding platforms.

Within this changing industry structure, firms will have to come up with unique strategies in order to remain at the vanguard of their game. This will involve being able to access, and close on, the most lucrative investment opportunities in order increase their funding volume.

In recent times, the?venture capital industry?has witnessed a surge in its funding volume and deal size as VCs have began co-investing with other investor groups, such as private equity firms and hedge funds. As a result, deals ranging from US$25 million to US$50 million have become commonplace in the industry.

However, in order to take full advantage of this trend, there is a need to take their investment activities online. Private investment deals syndicated online have gained wide popularity in recent times.

These have been responsible for the surge in the funding volume of alternative funding sources. These are ?attested to by the recent success stories of peer-to-peer lending and crowdfunding platforms.

These young fintech platforms use technology to disrupt the venture capital industry. They empower early-stage startups to raise low-cost capital without having to part with substantial equity in their businesses.

VC investment activities are typically restricted to their local market with the exception of a few who deviate out to other lucrative markets. This is understandable because of the substantial resources needed to manage core activities, such as board meetings and monitoring the operations of the startups, are, more often than not, outside their locality.

However, by syndicating the investment process online, VCs can further expand their reach. They are able to access?a wider spectrum of investment opportunities?outside their local market and professional networks.

本文系未央网专栏作者David Drake发表,属作者个人观点,不代表网站观点,未经许可严禁转载,违者必究!

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