I. Basic information of Qingdao private equity fund company 1. According to relevant laws and regulations, private fund managers need to have appropriate capital to support their basic operations; 2. The paid-in capital or paid-in capital contribution is not less than RMB 654.38+million; 3. Among the products raised and managed by itself or entrusted to other institutions for management, the scale of investment in publicly issued stocks, bonds, fund shares and other securities and their derivatives stipulated by the China Securities Regulatory Commission is more than 6,543.8 billion yuan; 4. There are two qualified licensed principals and one compliance risk control principal; 5. It has a good social reputation, has no record of violation of laws and regulations in the last three years, and has no record of bad faith in financial supervision, industry and commerce, taxation, commercial banks, self-discipline management and other administrative organs and other institutions. Second, the operation process of private equity investment is different from most other forms of capital, and it is also different from borrowing or stock investment of listed companies. Private equity investment fund managers or managers provide value-added services such as management technology and enterprise development strategy while bringing capital investment to enterprises. It is a long-term investment with strategic investment as its original intention. Of course, its operation process will also be a long-term and lasting process. The operation mode of domestic private equity investment funds and overseas venture capital funds is basically the same, that is, after the fund manager raises funds in a non-public way, he invests the funds in the equity of non-listed enterprises, manages and controls the invested companies to maximize the company's value, and then withdraws the funds after the company is listed or acquired to recover the principal and obtain income. Its investment operation is basically completed according to a series of steps, from the discovery and determination of the project, and then through negotiation and due diligence, the final contract terms are determined, the investment is completed, and the benefits are obtained through subsequent project management until the investment exits. Of course, different private equity investment funds have different characteristics and work processes, but they are basically the same. 1. Finding a successful private equity investment project depends on how to get a good project, which is also the most direct test of the fund manager's ability. Every manager has his own professional research industry, and a more detailed investigation of industry enterprises is a way to find a good project. In addition, the contact with the top managers of various companies and the broad social interpersonal network are also one of the sources of excellent projects, such as professional service institutions such as investment banks, accounting firms and law firms, which may provide a lot of valuable information. Of course, usually the most direct way is to let the project party submit the business plan directly. After obtaining the relevant information, the private equity investment company will contact the target enterprise to express its investment interest, and if the other party is also interested, it can make a preliminary evaluation. 2. After the initial evaluation of the project claimed by the project manager, in general, the initial evaluation of the project should be completed in a relatively short time. In the preliminary judgment stage, the project manager will focus on the following aspects: registered capital and approximate equity structure (which can be ignored if the company is not established in the seed period), industry development, competitiveness or profit model characteristics of main products, general operation of the previous year, initial financing intention and other enterprises that will help the project manager judge the investment value of the project. Preliminary judgment is the basis for further discussion and due diligence with the management of the company. In the process of preliminary evaluation, it is necessary to communicate with customers, suppliers and even competitors of the target enterprise and refer to the research reports of other companies as much as possible. Through these efforts, private equity investment companies will have a deeper understanding of the industry trends and business growth points where the investment targets are located. 3. After the due diligence has passed the preliminary assessment, the investment manager will submit the project proposal, and the project process has entered the due diligence stage. Because the success or failure of investment activities will directly affect the future development of both investment and financing companies, investors must clearly understand the details of the target company, including its operating status, legal status and financial status. There are three main purposes of due diligence: finding problems, finding value and verifying the information provided by financing enterprises. At this stage, the investment manager will not only hire an accounting firm to verify the financial data of the target company, check the company's management information system and carry out audit work, but also carefully evaluate the technology, market potential and scale of the target company and management team. This procedure includes contacting potential customers, consulting industry experts and holding talks with the management team to audit and evaluate assets. It may also include talking with corporate creditors, customers and related personnel (such as former employees), and their opinions will help investment institutions draw conclusions about corporate risks. 4. After due diligence on investment scheme design, the project manager shall form a research report and investment scheme proposal, and provide financial opinions and audit reports. The investment plan includes valuation and pricing, board seats, veto power and other corporate governance issues, exit strategy and determination of contract terms list. Due to the different starting points and interests of private equity investment funds and project enterprises, the two sides often have differences in the negotiation of valuation and contract terms list, which requires high technology and requires negotiation skills and the assistance of accountants and lawyers. 5. Transaction Structure and Management Under normal circumstances, investors will not inject all the investment at one time, but adopt the method of investment by stages. Every investment is based on the premise that the enterprise reaches the preset goal, which constitutes an agreement-based supervision of the enterprise. This is a necessary means to reduce risks, but it also increases the cost for investors. In this process, different investors choose different supervision methods, including reporting system, monitoring system, participation in major decisions and strategic guidance. In addition, investors will also use their networks and channels to help enterprises enter new markets, find strategic partners, play a synergistic effect, reduce costs and improve profits. 6. Project withdrawal The withdrawal of private equity investment means that the fund manager sells the equity of the invested enterprise in the market to recover the investment and realize the investment income. The withdrawal of private equity investment fund is the last link of private equity investment, which is related to the recovery and appreciation of its investment. The purpose of private equity investment is to obtain high returns, and whether the exit channel is smooth is an important issue related to the success of private equity investment. Therefore, the exit strategy is a factor that private equity investors need to pay attention to when they start to screen enterprises. Complete the whole process of a private equity investment project from the beginning of finding the project to the end of quitting the project. In real life, investment institutions may operate several projects at the same time, but basically each project has to go through the above process. To set up a private equity fund company in Qingdao, we must first meet the capital requirements. Only the managers of private equity funds have considerable capital can they apply for the establishment of private equity fund companies. Private equity funds usually invest in unlisted companies. It investigates and studies these companies to see if they have investment conditions. If the company goes public, the investment company will benefit.