{"id":785,"date":"2013-06-27T12:30:25","date_gmt":"2013-06-27T04:30:25","guid":{"rendered":"http:\/\/www.gpcommon.org\/ch\/?p=785"},"modified":"2018-11-28T14:47:44","modified_gmt":"2018-11-28T06:47:44","slug":"impact-investment-in-china","status":"publish","type":"post","link":"http:\/\/www.gpcommon.org\/ch\/2013\/06\/27\/impact-investment-in-china\/","title":{"rendered":"\u5f71\u54cd\u529b\u6295\u8d44\u5728\u4e2d\u56fd"},"content":{"rendered":"

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\u4e2d\u56fd\u5f71\u54cd\u529b\u6295\u8d44\u7684\u5148\u950b<\/span><\/strong><\/h3>\n

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\u00a0\u7b2c\u4e00\u7c7b\u673a\u6784<\/strong>\u662f\u8fd1\u51e0\u5e74\u5728\u5f71\u54cd\u529b\u6295\u8d44\u6d6a\u6f6e\u4e2d\u5e94\u8fd0\u800c\u751f\u7684\u4e13\u4e1a\u57fa\u91d1\u3002\u6b64\u7c7b\u57fa\u91d1\u4e13\u95e8\u6295\u8d44\u5f71\u54cd\u529b\u6295\u8d44\u9879\u76ee\uff0c\u5176\u8fd0\u4f5c\u5f62\u5f0f\u7c7b\u4f3c\u4e8e\u4f20\u7edf\u98ce\u9669\u6295\u8d44\u57fa\u91d1(VC)\u3002\u548c\u98ce\u9669\u6295\u8d44\u8981\u6c42\u901a\u8fc7\u590d\u5236\u548c\u6760\u6746\u6548\u5e94\u83b7\u5f97\u9ad8\u989d\u8d22\u52a1\u56de\u62a5\u4e00\u6837\uff0c\u4e13\u4e1a\u7684\u5f71\u54cd\u529b\u6295\u8d44\u673a\u6784\u901a\u8fc7\u7c7b\u4f3c\u7684\u65b9\u5f0f\u83b7\u5f97\u9ad8\u589e\u957f\u7684\u793e\u4f1a\u5f71\u54cd\u529b\u3002\u5018\u82e5\u9879\u76ee\u4ec5\u4ec5\u4ea7\u751f\u7a33\u5b9a\u6216\u5c0f\u89c4\u6a21\u7684\u793e\u4f1a\u5f71\u54cd\u529b\uff0c\u5219\u4e0d\u80fd\u8fbe\u5230\u6b64\u7c7b\u57fa\u91d1\u7684\u8981\u6c42\u3002\u4e0e\u4f20\u7edf\u98ce\u9669\u6295\u8d44\u4e0d\u540c\u7684\u662f\uff0c\u5f71\u54cd\u529b\u6295\u8d44\u57fa\u91d1\u5bf9\u4e8e\u8d22\u52a1\u56de\u62a5\u548c\u5468\u671f\u7684\u8981\u6c42\u66f4\u52a0\u7075\u6d3b\uff0c\u63d0\u4f9b\u4e2d\u957f\u671f\uff08\u4f8b\u59823\u81f38\u5e74\uff09\u7684\u8010\u5fc3\u8d44\u672c\uff0c\u540c\u65f6\u8003\u8651\u5230\u589e\u52a0\u7684\u793e\u4f1a\u6210\u672c\u5bf9\u8d22\u52a1\u56de\u62a5\u7684\u5f71\u54cd\u3002<\/p>\n

\u00a0\u4ece2007\u5e74\u4ee5\u6765\uff0c\u4e2d\u56fd\u51fa\u73b0\u4e86\u591a\u5bb6\u4e13\u6ce8\u5f71\u54cd\u529b\u6295\u8d44\u7684\u6295\u8d44\u57fa\u91d1\u548c\u987e\u95ee\u673a\u6784\uff0c\u5982\u7231\u7ef4\u7a33\u7279\uff08Avantage Ventures\uff09\u3001LGT\u516c\u76ca\u521b\u6295\u3001\u5c9a\u5c71\u8d44\u672c\u3001\u521b\u601d\uff08Transist\uff09\u3002<\/p>\n

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\u00a0\u7b2c\u4e8c\u7c7b\u673a\u6784<\/strong>\u662f\u4ece\u4f20\u7edf\u7684\u975e\u8425\u5229\u7ec4\u7ec7\u53d1\u5c55\u8f6c\u5316\u800c\u6765\u7684\u5f71\u54cd\u529b\u6295\u8d44\u673a\u6784\u3002\u6b64\u7c7b\u673a\u6784\u901a\u5e38\u6709\u660e\u786e\u7684\u4f7f\u547d\uff0c\u81f4\u529b\u63a8\u52a8\u793e\u4f1a\u95ee\u9898\u7684\u89e3\u51b3\u3002\u5728\u6210\u7acb\u521d\u671f\uff0c\u4ed6\u4eec\u5e38\u4ee5\u975e\u8425\u5229\u7ec4\u7ec7\u7684\u4f20\u7edf\u624b\u6cd5\u5f00\u5c55\u9879\u76ee\uff0c\u4f46\u968f\u7740\u793e\u4f1a\u4f01\u4e1a\u53ca\u5f71\u54cd\u529b\u6295\u8d44\u6982\u5ff5\u7684\u666e\u53ca\uff0c\u4ed6\u4eec\u5f00\u59cb\u5c1d\u8bd5\u4ee5\u65b0\u7684\u7ec4\u7ec7\u5f62\u6001\u548c\u8fd0\u4f5c\u6a21\u5f0f\u5c06\u793e\u4f1a\u76ee\u6807\u548c\u5546\u4e1a\u6a21\u5f0f\u8fdb\u884c\u878d\u5408\uff0c\u5e76\u9010\u6b65\u8f6c\u53d8\u4e3a\u6295\u8d44\u793e\u4f1a\u4f01\u4e1a\u7684\u5f71\u54cd\u529b\u6295\u8d44\u673a\u6784\u3002\u4ed6\u4eec\u4e0d\u662f\u4e13\u4e1a\u7684\u6295\u8d44\u673a\u6784\uff0c\u4f46\u5bf9\u793e\u4f1a\u548c\u73af\u5883\u95ee\u9898\u6709\u6df1\u523b\u7684\u89c1\u89e3\u548c\u8f83\u597d\u7684\u628a\u63e1\uff0c\u4e14\u5728\u4e1a\u5185\u6709\u4e30\u5bcc\u7684\u4eba\u8109\u8d44\u6e90\u3002\u56e0\u6b64\uff0c\u4ed6\u4eec\u4f1a\u9009\u62e9\u5546\u4e1a\u6a21\u5f0f\u6210\u719f\u4e14\u5bb9\u6613\u89c4\u6a21\u5316\u793e\u4f1a\u5f71\u54cd\u7684\u884c\u4e1a\u8fdb\u884c\u6295\u8d44\uff0c\u4e5f\u4f1a\u9009\u62e9\u4e0e\u811a\u8e0f\u5b9e\u5730\u540c\u65f6\u53c8\u5bcc\u6709\u8fdc\u89c1\u7684\u793e\u4f1a\u4f01\u4e1a\u5bb6\u5408\u4f5c\u3002\u6b64\u5916\uff0c\u7531\u4e8e\u56fd\u5185\u793e\u4f1a\u4f01\u4e1a\u53d1\u5c55\u5c1a\u5904\u4e8e\u65e9\u671f\uff0c\u7f3a\u4e4f\u53ef\u6295\u8d44\u7684\u5bf9\u8c61\uff0c\u56e0\u6b64\u8fd9\u4e9b\u5f71\u54cd\u529b\u6295\u8d44\u673a\u6784\u5f80\u5f80\u91c7\u7528\u4f19\u4f34\u5f0f\u7684\u6295\u8d44\u65b9\u6cd5\uff0c\u517c\u5907\u6295\u8d44\u5bf9\u8c61\u7684\u7ba1\u7406\u8005\u53ca\u6295\u8d44\u8005\u53cc\u91cd\u8eab\u4efd\u3002<\/p>\n

\u00a0\u7531\u4e8e\u8d44\u6e90\u9650\u5236\u53ca\u4e13\u4e1a\u4eba\u624d\u532e\u4e4f\uff0c\u76ee\u524d\u56fd\u5185\u8fd9\u7c7b\u5f71\u54cd\u529b\u6295\u8d44\u673a\u6784\u6570\u76ee\u4e5f\u4e0d\u591a\u3002\u6bd4\u8f83\u6709\u4ee3\u8868\u6027\u7684\u662f2002\u5e74\u6210\u7acb\u7684\u5317\u4eac\u5bcc\u5e73\u5b66\u6821\uff0c\u4ed6\u4eec\u5df2\u5728\u5c31\u4e1a\u4e0e\u793e\u533a\u670d\u52a1\u3001\u5fae\u578b\u91d1\u878d\u3001\u65e9\u671f\u6559\u80b2\u7b49\u9886\u57df\u6295\u8d44\u5e76\u7ba1\u7406\u7740\u4e94\u5bb6\u793e\u4f1a\u4f01\u4e1a\u3002\u6b64\u5916\uff0c\u53cb\u6210\u4f01\u4e1a\u5bb6\u6276\u8d2b\u57fa\u91d1\u4f1a\u4e5f\u5728\u5c0f\u989d\u4fe1\u8d37\u53ca\u5a74\u5e7c\u513f\u5065\u5eb7\u9886\u57df\u8fdb\u884c\u4e86\u5f71\u54cd\u529b\u6295\u8d44\u7684\u5b9e\u8df5\u3002<\/p>\n

2012\u5e746\u6708\uff0c\u57fa\u4e8e\u65b0\u7ecf\u6d4e\u4e2d\u56fd\uff08New Ventures China\uff09\u5e73\u53f0\u5efa\u7acb\u8d77\u6765\u7684\u4e2d\u56fd\u7b2c\u4e00\u5bb6\u9488\u5bf9\u73af\u4fdd\u578b\u4e2d\u5c0f\u4f01\u4e1a\u63d0\u4f9b\u6295\u8d44\u548c\u52a0\u901f\u5668\u670d\u52a1\u7684\u5f71\u54cd\u529b\u57fa\u91d1\uff0c\u4e2d\u56fd\u5f71\u54cd\u529b\u57fa\u91d1\uff08China Impact Fund\uff09\u5ba3\u5e03\u6210\u7acb\u3002\u5230\u76ee\u524d\u4e3a\u6b62\uff0c\u8be5\u57fa\u91d1\u5df2\u7ecf\u9009\u6295\u4e86\u56db\u5bb6New Ventures China\u516c\u53f8\u30022012\u5e7410\u6708\uff0c\u201c\u65b0\u6e56-\u80b2\u516c\u76ca\u521b\u6295\u57fa\u91d1\u201d\u5728\u5929\u6d25\u5ba3\u5e03\u6210\u7acb\uff1a750\u4e07\u5143\u6765\u81ea\u6d59\u6c5f\u65b0\u6e56\u96c6\u56e2\u6350\u8d60\u7231\u5fb7\u57fa\u91d1\u4f1a\u8bbe\u7acb\u7684\u201c\u65b0\u6e56\u516c\u76ca\u521b\u6295\u57fa\u91d1\u201d\uff0c250\u4e07\u6765\u81ea\u6df1\u5fb7\u516c\u76ca\u53d1\u8d77\u7684\u201c\u80b2\u516c\u76ca\u521b\u6295\u201d\u3002\u5728\u53ef\u9884\u89c1\u7684\u672a\u6765\uff0c\u6b64\u7c7b\u7531\u56fd\u5185\u975e\u8425\u5229\u7ec4\u7ec7\u53d1\u8d77\u7684\u5f71\u54cd\u529b\u6295\u8d44\u673a\u6784\u5c06\u4f1a\u5448\u73b0\u5feb\u901f\u589e\u957f\u7684\u8d8b\u52bf\uff0c\u9884\u671f\u4ed6\u4eec\u7684\u6295\u8d44\u9886\u57df\u5c06\u5341\u5206\u5e7f\u6cdb\uff0c\u6295\u8d44\u7684\u65b9\u5f0f\u4e5f\u66f4\u591a\u5143\u5316\uff0c\u5982\u521b\u65b0\u4e1a\u52a1\u6350\u8d60\u3001\u80a1\u6743\u548c\u503a\u6743\u878d\u8d44\u7b49\u3002<\/p>\n

\u00a0\u7b2c\u4e09\u7c7b\u673a\u6784<\/strong>\u662f\u4f20\u7edf\u7684\u91d1\u878d\u673a\u6784\uff0c\u5982\u5546\u4e1a\u94f6\u884c\u548c\u57fa\u91d1\u516c\u53f8\u7b49\u3002\u6b64\u7c7b\u673a\u6784\u901a\u5e38\u6709\u6210\u719f\u660e\u786e\u7684\u76c8\u5229\u6a21\u5f0f\u548c\u76c8\u5229\u76ee\u6807\uff0c\u4ee5\u8d22\u52a1\u6536\u76ca\u4e3a\u5bfc\u5411\uff0c\u4e14\u8c03\u52a8\u8d44\u91d1\u7684\u89c4\u6a21\u53ef\u89c2\u3002\u4ed6\u4eec\u4f1a\u5c06\u793e\u4f1a\u6216\u73af\u5883\u56e0\u7d20\u4f5c\u4e3a\u4e1a\u52a1\u4e2d\u7684\u65b0\u9644\u52a0\u503c\uff0c\u4ee5\u83b7\u53d6\u5546\u4e1a\u58f0\u8a89\u3001\u964d\u4f4e\u4fe1\u7528\u98ce\u9669\u548c\u8d44\u91d1\u6210\u672c\u3001\u63d0\u5347\u54c1\u724c\u5f62\u8c61\u3002\u6709\u7684\u8fd8\u4f1a\u501f\u6b64\u7814\u53d1\u65b0\u4ea7\u54c1\uff0c\u5728\u7ec6\u5206\u5e02\u573a\u72ec\u5360\u9ccc\u5934\uff0c\u63d0\u5347\u7ade\u4e89\u4f18\u52bf\u3002<\/p>\n

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