Imakethe ibhizinisi dolobha. Venture ibhizinisi. ukutshalwa kwezimali

Isikhathi esining impela kwenzeka ukuthi umuntu noma iqembu labantu isikhathi eside abasebenza yomkhiqizo noma inkonzo ethile, emangalisayo umcabango out imodeli yebhizinisi, business plan futhi alungele ukuzigcina ikhanda lakho emsebenzini. Kodwa lapho ukuthola dolobha esanele sokuqala? I imibuzo engasiza uqalisa ibhizinisi capital emakethe uma utshala imali. Kuyini ke?

Kuyini sangasese nokulingana Isikhwama?

Private nokulingana Isikhwama ngokuthi abaxhumanisi abatshala enhlokodolobha yase zimali ezahlukene ngumnikazi izinkampani ezizimele (ie izinkampani hhayi lokuphekiwe ezimakethe isitokwe - abekho esidlangalaleni). Venture Capital Fund - kungcono futhi inhloko-dolobha yangasese, okuyinto atshalwe izinkampani kusaqalwa yentuthuko. Nokho, ukuze umuntu ahlukanise phakathi imiqondo ezifana kokutshala imali nokulingana ezivamile, ibhizinisi dolobha, practice kunzima kakhulu, ngakho-ke ngokuvamile phakathi nale migomo kufanisa. Nokho kukhona umehluko kancane - ke itholakala lokuthi ukuthi ibhizinisi dolobha izimali utshalomali wahlanganyela ukutshalwa ngokukhethekile ibhizinisi ekuqaleni-up.

Regulation ezingeni zomthetho

Venture dolobha izimali Russia kulawulwa umthetho ku utshalomali ngokuhlanganyela, ezinkampani mutual funds. Umthetho usanda kwethula lento incazelo ezifana "ibhizinisi lokutshala izimali Isikhwama." Abalobi yephrojekthi ziye zasungula uhlaka lomthetho ukudalwa i ingqalasizinda ibhizinisi dolobha izimali utshalomali, okuye nomthelela ekuthuthukiseni amaphrojekthi utshalomali izinkampani ezahlukene.

Venture utshalomali kwamanye amazwe

Eqinisweni, izibonelo into ezifana nemali ibhizinisi lokutshala izimali, kuchazwa ezingeni zomthetho, impela kancane. Nokho, imisebenzi nezinhlangano ezifana emazweni amaningi athuthukile kakhulu liphinyiselwe futhi ithuthukiswe amashumi eminyaka. E-United States ekuqaleni ibhizinisi capitalists le senkulungwane ngakubili imali amaprojekthi ezahlukene cishe sasiyikhulu namashumi dollar ayizigidi eziyinkulungwane. akhawunti izinkampani Ixashwa ngoba cishe amabili amaphesenti inani eliphelele izinkampani zomphakathi US, amaphesenti angaphezu kuka amathathu yenani emakethe amaphesenti nanye konke okuthengiswayo, amaphesenti nantathu yenzuzo ye wezinkampane zomphakathi e-United States of. Njengoba singabona, izimali ibhizinisi utshalomali badlala indima ebalulekile emnothweni wase-US.

European emakethe kuyinto yesibili kuphela US wentuthuko. Venture kwamabhizinisi e-EU futhi ivamile impela. Ikakhulukazi, amaphesenti ayishumi of isamba utshalomali yiso izimali zebhizinisi ekuqaleni-up.

Kuyini Venture Capital Fund?

Venture Isikhwama ngokuthi ukutshalwa kwezimali (ukutshalwa) enhlanganweni yohlobo avaliwe (corporate noma mutual), uphiko isakhi amafa ezingesiyo imingcele ngendlela ephawulekayo eyayifunwa. Emabhange yesikhwama kungaba izinhlangano ezingokomthetho. inkampani ukuphathwa kwempahla (AMC) ukwenza ngqo emafeni Isikhwama, inkampani inikeza umnakekeli onokwethenjelwa isitoreji yabo. Ikakhulukazi, ibhizinisi dolobha ukutshalwa enzelwe hhayi kuphela ukuze sikhokhele amabhizinisi ezikhulayo, kodwa futhi ngoba ukuqaliswa izikimu ukuphathwa kwempahla.

Umqondo ibhizinisi inhlokodolobha

Venture dolobha, ngokuphambene nenkolelo evamile, edlala ku umbuzo zoxhaso eyinhloko indima ezincane. A ingxenye enkulu ukutshalwa ibhizinisi dolobha okuhloswe ngazo imisebenzi yentuthuko ekuqaleni usekelwa kwezimali zomphakathi. Capital ifeza indima ebaluleke kakhudlwana kakade esigabeni esilandelayo, okungukuthi, ngesikhathi lapho ezintsha ziya inzuzo. Ukutshala imali amaprojekthi ukuqala akuyona imali "eside" - ngomqondo wokuthi lezi zimali ngezimali inkampani kuze kube isikhathi lapho bengenayo ukuthola creditworthiness esanele ixhunywe emakethe yamasheya noma ukudayiselwa izinkampane ezinkulu (zimali amasu) kuphela. Igama elithi evamile ibhizinisi izimali iminyaka emithathu kuya kwemihlanu, futhi ezimweni ezingavamile ongafinyelela iminyaka eyisishiyagalombili.

Okudingekayo ukuze utshalomali ekuqaleni abantu abadala

Niche ngoba ibhizinisi dolobha ukutshalwa kwezimali lapho ngoba emakethe dolobha has a isakhiwo kunalokho xaka. ngamabhange anqunyelwe ekukhokheleni izindleko ekuqaleni abantu abadala, ngeke bakwazi ukwandisa zenzalo ezingeni ukuthi ngabe isinxephezelo izingozi wamabhizinisi abasha. Ngaphezu kwalokho, naleyo ebolekisayo - indlela ezimbi kakhulu ukuze sikhokhele ezikhulayo izinkampani ezincane, njengoba kukhona izingozi sokuba ngongakwazi ukukhokha izikweletu, ngokulandelana, amabhange anganikeza loans inani collateralized. Kodwa impahla evela enkampanini asanda kusungulwa ngokuvamile akwanele. Lwabalandeli kusukela iphothifoliyo zimali esikhulu (utshalomali kanye nezimali yempesheni), kanye ingxenye imakethe yamasheya kuyinto izinkampani kuphela ovuthiwe futhi enkulu etholakalayo. ibhizinisi izimali capital investment nje ugcwalise lesi igebe - phakathi imithombo ezahlukene uxhaso emisha kanye komkhakha wamabhange.

Income ibhizinisi izimali - Kwenzeka kuphi?

izimali Investment, zempesheni zabantu kanye nezimali Iminikelo inyuvesi, izinkampani zomshuwalense - imithombo eyinhloko izimali, okuyinto bakha ibhizinisi dolobha uma utshala imali. Kulabantu abalutshwana ezezimali kudingeka ukutshala ukutshalwa okuyingozi. Umnotho eenarheni ezithuthukako nokuthuthukiswa salo encike ngqo kwi inqubo utshalomali, okuyinto lihlotshaniswa izingozi ezithile. Imali kulindeleke ngokweqile uma utshala imali enjalo esiphakathi amathathu kuya amane per cent ngonyaka.

Lapho ekhetha wamakhophi ibhizinisi ukutshalwa siholwa ezinye izinkomba, okuhlanganisa amaphrojekthi usekelwa kulesi sikhwama, impumelelo esidlule nedumela lwabaphathi nokuphatha. Nokho, inflow lemali kuholela ukuntula amalungu professional futhi abanolwazi, kanye yokucindezeleka okwandayo ku osomabhizinisi nemfuneko ukuqinisekisa yalokho okuhle esikhathini esifushane. Lezi zinto ziyizenzakalo izimbangela ukufuduka isithakazelo kwezimali ibhizinisi lokutshala izimali maqondana ngezimali amabhizinisi ezinkulu kanye naphakathi e ezigabeni kamuva, njengoba inikeza nengozi kancane nesikhathi ngokushesha. Nokho, ibhizinisi dolobha imali ngezimali zokuqala ukufinyelela nenzuzo eliphezulu kakhulu izimali zabo ikakhulukazi ngenxa ezicatshangwe kahle utshalomali isu, tindlela letehlukene zesakhiwo ukuthengiselana, futhi-ke, ingozi diversification.

Yini isu isetshenziswa VCs?

izinqumo amasu ku ukukhethwa kwamaphrojekthi ukuze kokutshalwa kwezimali kumcoka. Kuphela angaphansi kwamaphesenti omunye sicatshangelwe njengoba kulindelwe izigaba sokuqala sephrojekthi ukufinyelela utshalomali ngqo. Amaphesenti angamashumi ayisishiyagalolunye zonke iziphakamiso ziyanqatshelwa cishe ngokushesha, futhi eziyishumi asele babhekana ukuhlaziywa ngokujulile. Wabo bese ukhetha imibhalo lucky ngubani uthole utshalomali eside elindelwe. Projects okuyizinto ethembisayo ethembisa, akuzona okuhlosiwe kuphela ibhizinisi zimali. Empeleni, izimali izimali ngokuvamile ukutshala ezikhulayo nokuthuthukisa ensimini, lapho umncintiswano namanje enganele. Ngokwezibalo, Eighties ekuseni, share enkulu utshalomali imisele ku imboni yezamandla maphakathi nawo-nineties - ekukhiqizeni ubuchwepheshe, futhi ngonyaka we-main nokuphuma kwemali sisebhizinisini internet. Uhlelo oluyisisekelo oluthi iphethini - inhlokodolobha ibhizinisi ziqondiswe esifundeni eyanda ngokushesha kangaka.

Inganekwane inhlokodolobha ibhizinisi

A owandile onganembile ukuthi ibhizinisi ibhizinisi wahlanganyela ukukhethwa izinkampani ethembisa ezingaphazamisa ukubuyela abaholi emakethe. Ngokuvamile, akuyona. Ngesikhathi sigaba sokukhula ngokushesha komkhakha komnotho, abaningi izinkampani uqalisa futhi uye wakwenza ngokuzimisela athuthukile. Kuphela kusungulwa, lapho umncintiswano uthola obuqinile, abawinile futhi losers are liphenye. Nokho, abanekhono ibhizinisi kosozimali wayevele ubonisa umzimba yephrojekthi utshalomali. Ngakho-ke kuyinto ngokuphelele akudingekile ukukhetha inkampani kuyoba abawinile kule eside inzuzo yokuncintisana. Kwanele ukuthola inkampani uhlangana lo funa abasafufusa kanye ezikhulayo ne emakethe, futhi ngesikhathi esifanele ukuhoxisa utshalomali kokuqala. Ngokuvamile, ibhizinisi izimali utshalomali ukugwema zemakethe amile, kanye nalabo imikhakha ungabonisi ithuba lokwanda.

Ubani kosozimali ibhizinisi?

Ngomqondo zakudala kosozimali ibhizinisi ukubizwa ngokuthi umuntu abangagcini nje imali inkampani asathuthuka, kodwa kuthuthukisa izindleko zabo iqhaza layo eqondile asebenzayo. It is abahilelekile okugada, usebenzisa isipiliyoni amanye amaphrojekthi kanye nolwazi jikelele we imikhakha yezomnotho, edonsela consultant, abacubunguli mabhuku, kubaphathi bebhange, okusho kunomthelela ukuvivinya ibhizinisi.

ukwakhiwa Ofanele ukuthengiselana

Izinketho ukuhanjiswa kwentengiso kungaba kakhulu. Nokho, kukhona iphethini: kuthengiselana kumele luhlelwe ngendlela ezifana ukuvumela Venture Capital Fund ithuba uthole lemali kakhulu uma inkampani siyophumelela, futhi ngangokunokwenzeka ukuze ukuthathelwa umshuwalense ke ngokumelene ukulahlekelwa ngenxa wokugoqa. Imigomo ukuthengiselana njalo aqukethe amalungiselelo lokulawula yesikhwama sokuvikela. Uma iphrojekthi kuphumelela, kungase kudingeke khona imali eyengeziwe, kanti futhi nesiKhwama bayothenga ukwaba okusha ngesikhathi intengo ngezimali kokuqala. Ngaphezu kwalokho, e into wabeka kanye ejensi izindleko, ezinye zazo yilezi izindleko sokunqoba ephathelene nokungqubuzana kwezinhloso zenzuzo, kanye ukulahlekelwa oqondile. izindlela ngempumelelo kwezinhlangano ukuthengiselana kunganciphisa lezi zindleko. Ngokuvamile lokhu kwenziwa iqhaza ukuphathwa kule nkampani, ukubamba iqhaza ibhizinisi capitalists ekuphathweni kanye nokuqapha, okuhleliwe ngezimali.

Izimali engcono ukutshala

Ithuluzi ejwayelekile ezinjengokungcoliswa ukutshalwa kwezimali, kubhekwa Convertible ukwabelana oluncamelayo. La masheya ngesikhathi ophumayo kwiphrojekthi utshalomali izoguqulelwa phakathi ezivamile futhi adayiselwe zimali amasu (izinkampane ezinkulu) noma ezimakethe zamasheya. Leli thuluzi inikeza zimali nge umshwalense ezinhle, uma inkampani yehluleka, njengoba kulokhu, lona wamuva ubophekile imali ngenani eliphelele izimali ezitshaliwe ukuba abanikazi lamasheya oluncamelayo.

ukubaluleka diversification

Noma yimuphi Venture Capital Fund Ufuna ukunciphisa ingozi ngokusebenzisa diversification. Lokhu kusho ukuthi le nqubo ngezimali bakhangwa izisekelo eziningana, enye yazo kuyinto ehamba phambili futhi lonke avele babambisane zimali amalungelo. Akuvamile lapho Isikhwama usekelwa inkampani iyonke. Ukubandakanywa lwesithathu abalingani party ikuvumela ukuba ehlukahlukene ukutshalwa kwezimali, okuyinto kunciphisa ubungozi.