A quarter more than two hundred billion private equity fund-raising market pressure continues to increase


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Data show that the first quarter of this year, with VC / PE investment institutions, represented a total investment capital of over 200 billion yuan, play an increasingly important role in the financing of SMEs assisted lever down。The industry believes that China's financial industry, especially around the direct financing of the imminent transformation of equity financing, capital markets need to play a bigger role in economic transformation and upgrading。  Investment of over 210 billion yuan in the first quarter despite the "fund-raising difficult" issue has been shaped like a shadow over, but the VC / PE on purchases, but not soft。Overall, investment equity investment institutions more rational the first quarter of 2018。  Qing dynasties latest data show that the first quarter of 2018, Chinese equity market investments were 2398 cases, involving a total investment of 211.1 billion yuan, much higher than the amount of equity financing domestic non-financial enterprises 128.3 billion yuan。  In fact, since last year, corporate equity financing has more than domestic non-financial enterprises equity financing, one of the most important sources of funds business, play an increasingly important role in the financing of SMEs assisted lever down。  Shenwan Hong Wang Cong cloud source believes that the traditional economic re-credit, mortgage re different, especially in the new economy is more dependent on equity financing to direct financing。International experience shows that, with the new economic rise attendant, promote each other, it is the development and expansion of direct financing system。Financial services to a living entity, China's financial industry, especially around the direct financing of the imminent transformation of equity financing, capital market needs to play a greater role in the economic transformation and upgrading。  The industry believes that, for a long time, SMEs generally rely on bank indirect financing, corporate leverage resulting in high rate。October 2016 promulgated the "Opinions on actively and steadily lower corporate leverage," stressed vigorously develop the private equity fund to promote venture capital; innovation and use of financial resources, play a guiding role of industrial investment fund; standardize the development of various types of equity-type fiduciary management of funds; under the premise of effective supervision, explore the use of combined debt stocks, investment and loans and mezzanine financing instruments。  Recently, the China Securities Regulatory Commission spokesman Gao Li said that although the three new board listed companies financing capacity continues to increase, but increase the proportion of direct financing of small and medium micro enterprises the task is still arduous。Recommended further enrich financial products, to provide differentiated and more efficient financing for the different stages of growth companies, to increase financial support for SMEs。  Fund-raising situation remains Yan Junqing department data show that as of the end of March 2018, active early investment, venture capital and private equity capital management Total amount of investment institutions Super 8.9 trillion yuan, according to the scale, China has become the world's second largest equity market。  However, in the first quarter of this year, China's equity market 805 new funds, has raised a total fund size of completed 237.6 billion yuan, less than one-seventh of last year, slightly higher than the cast of 211.1 billion yuan, basically to achieve "balance of payments balance"。The industry believes that raising difficult issues have not be ignored, especially foreign currency funds: 2017 72 newly raised foreign currency funds, while only a quarter of this year to raise funds in foreign currency 4; last year to raise the scale has been completed 114.6 billion yuan, a quarter of this year 14.33 times。  Insiders said that the past two years China's equity market and fund-raising difficult issues still prominent, medium and small organizations are particularly affected。In addition, new information management rules to open a new journey regulate the development of the information management industry, current market information management products for the prevalence of multiple levels of nested, rigidity and other payment given to heavy regulation, 2018 GP (general partner) of raising the pressure will continue to increase。  More than GP, LP (limited partner) also face fund-raising pressure。In the small village of Capital founder and chairman Feng Huawei opinion, market-oriented parent fund-raising difficult issues still exist。"This includes social capital, lack of patience for long-term equity investment, lack of parent fund equity assets of these segments cognitive problems parent fund double charges。These problems, not only the market mechanism and improve their ability to invest, but also need more guidance and support policy level, for example through tax incentives, etc., to guide social capital investment funds market parent。"Corporate Venturing rise in the first quarter of this year, equity market also appeared obvious feature, namely the gradual rise of corporate venturing。The so-called corporate venture capital, is the risk of investment activities with clear main business of non-financial enterprises in their internal and external carried out。  At present the main form of business venture, there are two: one is to venture capital funds for managing entrusted to professional investment institutions, set up by investment funds need to choose the subject of a strategic commissioning party; the other is the enterprise directly establishment of an independent investment institutions, it works similar to the professional venture capital firms。  Insiders said that, compared to traditional VC / PE firms, corporate venture capital fund-raising pressure due to the smaller, and therefore more clout in the investment, which is the rise in recent years with BAT as the representative of the venture capital business reasons。  IT oranges data show that as of mid-2017 at the end of 12, in all 124 "unicorn" enterprise, 50.8% of the company and BAT has a direct or indirect equity relationships; which valued at more than billions of dollars, "whale," the company has 11, of which 10 related companies and BAT, only Dajiang technology and still maintain a certain BAT distance。  The industry believes that Tencent, for example, it is not just a product company, but also a platform for investment。Rich investment case, on the one hand reflects the positive cash flow of internal exploration, on the other hand tries to reflect the external international。  In addition to the "vote" in the core part of the "retreat", the same eye-catching performance of venture capital business。Qing dynasties data show that the first quarter of this year, along with the top three the number of IPO capital investment and Winchester。Shun is the capital of which is Lei Jun at the helm of the "millet system", while Wen's investment is a capital operation platform GEM Wen's leading shares。  "Strategic investment has become big business innovation important weapons and tools。"Insiders say。May 9, Entrepreneur Qualcomm joint venture, investment in Tencent, millet technology and other large companies jointly set up the venture capital business alliances, and this is also the industry believe that the venture capital business is the rise of another signal。  How difficult fund-raising reports?

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