Gem will be VC/PE exit main channel

From the first 11 months of 2009, China's venture capital market raised in terms of investment and retreat, the total amount of investments has plunged, but the RMB investment is relatively active; in the industry of investment preference, broad it and traditional industries keep abreast of the same, expansion is still the most favored;　　The traditional industry withdrawal accounted for nearly 40%. The investment strategies of most VC firms tend to be cautious, as renminbi investment is relatively active in the global economic winter.　　2009 years ago, in 11 months, the number of investment cases in China's VC market and the total amount of investment fell sharply compared with the whole year of 2008, of which 381 of the total investment amount of 2.393 billion U.S. dollars, compared with the annual investment in 2008 straight 1.817 billion U.S. dollars, the decline reached 43.2%. But in 2009, with the double positive of the domestic capital market raising and withdrawing, the RMB investment in China's VC market is also active. From the number of investment cases, 2009 years ago 11 months, the number of RMB investment cases were 234, accounting for 61.4% of the total, compared with the year 2008 44.3% accounted for 17.1%, foreign currency investment cases were 147, accounting for only 38.6%.　　From the amount of investment, the amount of RMB investment is 1.089 billion U.S. dollars, accounting for 45.5% of the total, compared to the 2008 33.1% of the increase of 12.4%, the trend is obvious, but the total foreign currency investment amounts to 1.304 billion U.S. dollars, accounting for the ratio of 54.5%, still in more than half. Traditional industry, clean technology gradually 2009 years ago 11 months, from the number of investment case layout, broad IT industry to 161 of the number of investment cases in the first place, accounting for the ratio of 37.9%, the traditional industry to 110 of the number of investment cases followed by the proportion of 25.9%. From the point of view of investment amount, the distribution pattern is changed 2008 years ago in broad sense it alone lead the situation, the traditional industry's investment advantage gradually appeared, to 769 million U.S. dollars of investment and 32.1% of the proportion of overtaking the broad IT industry ranked first.　　In addition, the clean technology industry with its policy environmental advantages, high growth and industry development prospects gradually received the attention of investors. The most favored enterprises in the expansion period from the investment stage, the distribution pattern is no significant change from the whole year of 2008. 2009 years ago 11 months, the expansion of enterprises in the number of surrendered cases and the amount of investment are far ahead of the start-up period and maturity of enterprises, is still the most favored investment stage venture. Specifically, 217 expansion enterprises to obtain 1.232 billion U.S. dollars of investment, respectively accounted for the total investment of 51.1% and 51.5%, the initial period of enterprises to be invested and the amount of investment accounted for 22.4% and 15.9% respectively, the number of enterprises in maturity and the amount of investment accounted for 11.8% and 16.2　　%。 Gem will be a VC/PE exit from the main channel the impact of the global financial turmoil on the exit of China's venture capital marketMost direct. A total of 106 withdrawal transactions took place in 11 months, 2009 years ago, with a decrease of 29 in 2008 and 21.5% per cent. From the point of view of concrete exit, 66 IPO exit transactions accounted for 62.3% of the total number of exits, and the number of exit transactions increased by 23 over the whole year of 2008, and accounted for 31.9% of the year 2008.　　An increase of 30.4% per cent, with a 23 drop in equity transfers, down from last year, and a 6 withdrawal from the merger, which was flat last year. The ten-year-long venture board in the fourth quarter of the Grand launch, in the first batch of 28 enterprises package listing, led by the domestic enterprises listed a wave of small climax.　　2009 1-November A total of 71 enterprises in the domestic three capital markets listed, of which in Shenzhen SME board and Gem, respectively, 37 and 28 enterprises listed. Benefiting from the GEM board, the number of VC/PE-backed listed companies has increased markedly, with a total of 36 companies listed, and 14 more than overseas markets. of the 36 VC/PE-backed domestic listed companies, 20 companies have settled into the gem, and 20 have received support from 33 VC/PE institutions. And in the gem of the first batch of listed companies in the high price-earnings ratio drive, VC/PE investment institutions to obtain a better return on investment, more VC/PE-backed enterprises are willing to choose to be listed on the gem, Gem will gradually become the main channel of VC/PE exit.