风险投资家愿意把钱投给谁
<p><span word="Venture">Venture</span> <span word="capitalists">capitalists</span> <span word="are">are</span> <span word="entrepreneurship">entrepreneurship</span>’<span word="s">s</span> <span word="avant">avant</span>-<span word="garde">garde</span>. <span word="Their">Their</span> <span word="commercial">commercial</span> <span word="antennas">antennas</span> <span word="are">are</span> <span word="developed">developed</span> <span word="through">through</span> <span word="their">their</span> <span word="access">access</span> <span word="to">to</span> <span word="companies">companies</span> <span word="very">very</span> <span word="early">early</span> <span word="in">in</span> <span word="their">their</span> <span word="evolution">evolution</span>. <span word="They">They</span> <span word="make">make</span> <span word="multiple">multiple</span> <span word="bets">bets</span> <span word="and">and</span> <span word="hope">hope</span> <span word="enough">enough</span> <span word="succeed">succeed</span> <span word="in">in</span> <span word="order">order</span> <span word="to">to</span> <span word="deliver">deliver</span> <span word="market">market</span>-<span word="beating">beating</span> <span word="returns">returns</span> <span word="to">to</span> <span word="their">their</span> <span word="investors">investors</span>. <span word="Their">Their</span> <span word="skill">skill</span> <span word="often">often</span> <span word="lies">lies</span> <span word="in">in</span> <span word="judging">judging</span> <span word="the">the</span> <span word="founders">founders</span> <span word="of">of</span> <span word="the">the</span> <span word="businesses">businesses</span> <span word="they">they</span> <span word="assess">assess</span>.</p><p>风险投资家是创业先锋。他们在企业发展的初期就与企业接触，由此磨练出商业悟性。他们多重押注，期待有足够多的企业获得成功，为投资者带来高于市场的回报。他们的技巧往往来自对企业创始人的判断。</p><p><span word="They">They</span> <span word="are">are</span> <span word="busy">busy</span> <span word="at">at</span> <span word="the">the</span> <span word="moment">moment</span>, <span word="having">having</span> <span word="completed">completed</span> <span word="more">more</span> <span word="than">than</span> 4,000 <span word="deals">deals</span> <span word="in">in</span> <span word="the">the</span> <span word="US">US</span> <span word="alone">alone</span> <span word="last">last</span> <span word="year">year</span>, <span word="according">according</span> <span word="to">to</span> <span word="the">the</span> <span word="National">National</span> <span word="Venture">Venture</span> <span word="Capital">Capital</span> <span word="Association">Association</span>, <span word="and">and</span> <span word="attracting">attracting</span> <span word="the">the</span> <span word="highest">highest</span> <span word="level">level</span> <span word="of">of</span> <span word="investment">investment</span> <span word="in">in</span> <span word="more">more</span> <span word="than">than</span> <span word="a">a</span> <span word="decade">decade</span>. <span word="As">As</span> <span word="they">they</span> <span word="undertake">undertake</span> <span word="more">more</span> <span word="deals">deals</span>, <span word="and">and</span> <span word="more">more</span> <span word="investment">investment</span>, <span word="they">they</span> <span word="also">also</span> <span word="attract">attract</span> <span word="criticism">criticism</span> — <span word="notably">notably</span> <span word="for">for</span> <span word="being">being</span> <span word="disproportionately">disproportionately</span> <span word="male">male</span>.</p><p>从美国国家风险投资协会(<span word="National">National</span> <span word="Venture">Venture</span> <span word="Capital">Capital</span> <span word="Association">Association</span>)的数据看，如今风投家们忙得很，去年仅在美国就完成了超过4000笔交易，并吸引了10多年来最高水平的投资。随着他们接手的交易越来越多，筹集到的投资也越来越多，他们也招致一些批评——特别是男性比例过高。</p><p><span word="We">We</span> <span word="should">should</span> <span word="listen">listen</span>, <span word="therefore">therefore</span>, <span word="when">when</span> <span word="Silicon">Silicon</span> <span word="Valley">Valley</span> <span word="technology">technology</span> <span word="investors">investors</span> <span word="tell">tell</span> <span word="us">us</span> <span word="what">what</span> <span word="a">a</span> <span word="decade">decade</span>’<span word="s">s</span> <span word="experience">experience</span> <span word="reveals">reveals</span>. <span word="Early">Early</span>-<span word="stage">stage</span> <span word="investor">investor</span> <span word="First">First</span> <span word="Round">Round</span> <span word="Capital">Capital</span> <span word="has">has</span> <span word="published">published</span> <span word="the">the</span> <span word="findings">findings</span> <span word="of">of</span> <span word="a">a</span> <span word="review">review</span> <span word="of">of</span> <span word="its">its</span> <span word="first">first</span> 10 <span word="years">years</span>. <span word="It">It</span> <span word="looked">looked</span> <span word="at">at</span> <span word="the">the</span> 300 <span word="companies">companies</span> <span word="and">and</span> 600 <span word="founders">founders</span> <span word="it">it</span> <span word="has">has</span> <span word="invested">invested</span> <span word="in">in</span>, <span word="removed">removed</span> <span word="one">one</span> <span word="huge">huge</span> <span word="outlier">outlier</span> (<span word="Uber">Uber</span>) <span word="from">from</span> <span word="the">the</span> <span word="data">data</span>, <span word="and">and</span> <span word="assessed">assessed</span> <span word="how">how</span> <span word="much">much</span> <span word="their">their</span> <span word="value">value</span> <span word="had">had</span> <span word="changed">changed</span> <span word="between">between</span> <span word="its">its</span> <span word="initial">initial</span> <span word="investment">investment</span> <span word="and">and</span> <span word="at">at</span> <span word="exit">exit</span>, <span word="or">or</span> <span word="now">now</span>.</p>
页:
[1]