党的十八届三中全会《决定》明确提出,要改善科技型中小企业融资条件,完善风险投资机制。风险投资,是指对具有潜在高收益、高风险的企业进行的股权投资。它本质上是一种投资行为,但与一般的投资方式又有不同。首先,它是一种股权投资,风险投资机构的目的不是为了控制企业或者获取利息、红利,而是要培育企业快速成长、增值,通过上市、兼并或股权转让等方式撤出投资,取得高额回报。其次,风险投资属于参与性投资,投资人往往参与被投企业的管理,利用其经验、知识和社会网 The “Decision” of the Third Plenary Session of the 18th CPC Central Committee made it clear that we should improve the financing conditions for science and technology SMEs and improve the risk investment mechanism. Venture capital refers to the equity investment in enterprises with potential high yield and high risk. It is essentially an investment activity, but different from the usual way of investing. First of all, it is a kind of equity investment. The purpose of a venture capital institution is not to control the enterprise or to obtain interest and dividends. Rather, it should cultivate the rapid growth and value-added of enterprises, and withdraw their investment through listing, merger or share transfer, Return Second, venture capital investment is a participatory investment, investors often participate in the management of the invested enterprises, using their experience, knowledge and social network