Third-quarter PE performance active VC slightly depressed

Trainee reporter Hu Yan this year in the third quarter of China's private equity (PE) Investment Market performance, IPO investment case number and the amount of a significant increase in the last quarter, indicating that PE on the profit model of relatively mature listed enterprises to give more attention.　　Compared with the active performance of venture capital fundraising and IPO withdrawal, the number of VC and the amount of investment in the three quarter fell from the previous quarter, and was significantly lower than the same period last year. IPO investment still dominates according to the chinaventure data, China's private equity investment Market has disclosed 45 cases of investment in the three quarter of this year, the chain growth of 18.4%, the highest in the single-quarter PE investment since 2008;　　Total investment of only 2.371 billion U.S. dollars, the chain down 36.2%. The increase in the amount of investment is high and the total amount of investment is significantly reduced, investment group analysts said that the three-quarter PE investments in manufacturing, health care and other traditional industries in the main private enterprises, small enterprises, did not appear in the first two quarters, such as the Beijing-Shanghai high-speed rail, Jin-Lu railway and other large amount of infrastructure investment.　　It is worth pointing out that the car rental industry in the three-quarter consecutive high capital injections, Goldman Sachs, Qiming Ventures, Ding Hui, such as a joint injection of a hi car rental, the amount of 70 million U.S. dollars, Lenovo Holdings in the Shenzhou car rental, capital injection of 1.2 billion yuan. At present, PE institutions are more inclined to investment profit model of relatively mature listed companies to avoid risk, this performance in the three quarter IPO investment significantly increased. Statistics show that the IPO investment case 13, the total investment amounted to 949 million U.S. dollars, accounting for three of the total PE investment 40%.　　Among them, the July Sai Fu fund 2.224 billion Hong Kong dollars in Huiyuan juice, is the largest three-quarter amount of PE investment. But insiders pointed out that, as the domestic PE market increasingly fierce competition, access to IPO projects will be gradually reduced, the acquisition market will be the future of PE investment in an important area, and this type of investment is currently in Europe and America mature PE institutions to take the main investment way.　　Recently, the regulatory layer intends to introduce policies to encourage PE institutions to participate in mergers and acquisitions. Early investment was slightly depressed overall, the number and size of the three-quarter venture remained low, did not appear the expected upward trend.　　Statistics show that three of the total disclosure of VC investment cases 59, the total investment of 465 million U.S. dollars, of which, Sequoia China, IDG Capital and China's VC performance, three quarters each disclosure of investment cases are more than 4. Recent ventures have increased concerns about early-stage businesses.　　Statistics show that the first round of the three-quarter investment cases accounted for more than 70% of the total quarterly investment cases, while the expansion of the VC investment case only 12, compared to the last quarter of 31 more significant decline. Investment group analysts said VC investments in the early stages of development and development period of the enterprise-oriented, showing the transformation of investment strategy of venture capital. And in the three quarter, most companies won the firstRound of financing, it shows that venture capital in the active excavation of emerging investment projects to achieve results. In the third quarter, the investment concentration of China's venture capital market declined slightly, involving 13 industries, and the Internet, manufacturing, energy and it industries accounted for more than 10% of the total investment cases. Internet industry activity occupies the first place in all industries, Tudou has been the IDG capital, GGV Capital, Temasek and other joint capital injection, the amount of up to 50 million U.S. dollars, the three-quarter venture capital market financing the largest amount of a case.