Second, Wang Yawei.

Third, Fu Haitang

Fourth, Jiang Fei.

Verb (abbreviation of verb) Zhao Danyang

Sixth, the forest is vast.

Seven, Zhang Lei.

Eight, Qiu Guogen

Nine, Cao Renchao

X. Xu Xiang

The primary market refers to the project manager (GP) looking for the equity of unlisted companies. According to the development stage of the invested project, it can be divided into angel investment, VC investment, PE investment and pre-IPO investment. Generally, it is easy to manage the scale of10 billion yuan or more (the top excellent funds with equity investment can easily get the personal money of entrepreneurs, FOF funds, government guidance funds, institutional parent funds, etc. And they don't worry about money, and even criticize the money of some high-net-worth customers).

1. Private placement, that is, private investment funds, refers to the investment funds raised from qualified investors in the form of non-public offering, and invested in investment targets such as stocks, equity, bonds, futures, options, fund shares, etc. (such as works of art, wine, etc.). ) stipulated in the investment contract, referred to as private equity fund.

Second, the relevant provisions

1. When issuing securities, governments, financial institutions, industrial and commercial enterprises, etc. , you can choose different investors as the issuing object, so securities issuance can be divided into two forms: public offering and private offering. Mainly from the corporate private equity fund, limited partnership private equity fund, trust private equity fund and other three forms of establishment to analyze. Including the establishment conditions, the establishment subject, the capital contribution system and the establishment process.

2. The company law does not have too many restrictions on the conditions for the establishment of private equity funds, mainly for general limited liability companies and joint stock limited companies. For example, Article 23 of the Company Law stipulates: "The establishment of a limited liability company shall meet the following conditions:

(1) Shareholders meet the quorum;

(2) The capital contribution subscribed by all shareholders in accordance with the Articles of Association;

(3) Shareholders * * * agree to formulate the Articles of Association;

(4) Having a company name and establishing an organization meeting the requirements of a limited liability company;

(5) Having a company domicile.

3. On the subject of establishment, the company-based private equity fund needs to pay attention to the legal limit of no more than 200 investors, including no more than 50 limited liability companies and no less than 6,543.8+0,000 yuan for a single investor. The number of investors is consistent with the number of shareholders stipulated in the Company Law. The Company Law stipulates that the maximum number of limited liability shareholders is 50, while the maximum number of shareholders of a joint stock limited company is 200.

4. Regarding the minimum amount of registered capital, in accordance with the provisions of the Company Law, if there are higher provisions in laws and administrative regulations, those provisions shall prevail. According to the filing conditions stipulated in the above Interim Measures for the Administration of Venture Capital Enterprises, the paid-in capital of the company is not less than 30 million yuan. According to this regulation, the paid-in capital of venture capital enterprises is not less than 30 million yuan, but the registered capital is vague.

5. In terms of the establishment process, according to the Interim Measures for the Administration of Venture Capital Enterprises, the establishment of corporate PE needs to go through the relevant industrial and commercial registration procedures in accordance with the registration procedures of the Company Law, and then go through the relevant filing procedures at the local development and reform commissions. If foreign capital is involved, it is necessary to go through the examination and approval procedures of the relevant foreign-funded commerce bureau or the Ministry of Commerce before going through the industrial and commercial registration procedures.