In China, with the development of economy, some rich people are seeking challenges while hoping to become richer. Some people choose the stock market, while others choose to be angel investors, even if they are not familiar with the term.

Generally speaking, angel investment in China has not improved much. One of the reasons is that the traditional concept of saving dominates people's behavior. No matter how much money there is, it is always considered that depositing in a bank is the safest way to increase value, even if its real interest rate is negative.

However, the economic downturn and difficulties in bank loans led to the closure of small and medium-sized enterprises in China. If angel investors inject a sum of money into the enterprise when the liquidity of the enterprise is insufficient, it may bring a turning point to the enterprise.

At present, China lacks professional angel investors. Professional angel investors need rich management experience, strong contacts and an idle fund. Of course, the bigger the amount, the better. Who in China meets these requirements? The author thinks it is: retired enterprise executives, executives and administrative personnel (civil servants). Under the current economic recession and unprecedented employment pressure, retired people can make use of their accumulated experience and resources for many years to find new challenges and make greater achievements.

2. Angels appear-underground capital becomes aboveground capital.

In China, there are many underground banks, which may be another unique way for the rich to invest. Regardless of the legitimacy of its existence, it pulled some small and medium-sized enterprises on the verge of bankruptcy back from the death line at some point. Many times, small and medium-sized enterprises will borrow high-interest loans from underground banks to tide over the difficulties temporarily when financing cannot be realized.

After the collapse of small and medium-sized enterprises a few years ago, the "secret" of lending to underground banks also surfaced. In May 2008, the People's Bank of China and the China Banking Regulatory Commission jointly issued the Guiding Opinions on the Pilot Project of Small Loan Companies, and Zhejiang Province became the first province to carry out the pilot project of small loan companies. Then, Zhejiang Province and Wenzhou City respectively issued the Interim Measures for the Administration of Pilot Small Loan Companies in Zhejiang Province and the Guiding Opinions on Business Operation of Wenzhou Small Loan Companies (Provisional) to carry out pilot projects of small loan companies.

On June 5438+1October 65438+1October 8, 2008, Yongjia Ruifeng Microfinance Co., Ltd., the first batch of microfinance companies in Wenzhou, was approved to be established. This is the second microfinance company approved by Wenzhou after Cangnan Lian Xin. On the day of its establishment, it is planned to lend 29 million yuan, and three "three rural" enterprises, 1 small and medium-sized enterprises, and two grass-roots villages to be transformed will receive loan credit lines. In fact, Wenzhou, known as the "wind vane of private enterprises in China", has a good private credit, and private financing accounts for 30% ~ 40% of private enterprise financing. The legal establishment of small loan companies marks the legalization and standardization of private financing, which means that "underground capital" has turned to the ground.

This way of financing through small loan companies is similar to angel investment, both of which provide funds for the development of small and medium-sized enterprises, especially in the initial stage and early stage. I wonder if they can become angels of small and medium-sized enterprises? We will wait and see.

Today, when the international economic situation is not optimistic, the survival of small and medium-sized enterprises is particularly difficult. However, the lack of financing channels and high financing requirements have caused difficulties in financing, and also put many enterprises in trouble. As a rare investment and financing method in China, angel investment can enter the economic market at this moment, so as to be constantly improved and developed.

3. Angel Investment) 3.0

Relative to the concepts of angel investment 1.0 and 2.0. Angel investment 1.0 is a personal investment and depends on personal judgment; Angel Investment 2.0 is an institutional investment, relying on teams to find and judge projects; Angel Investment 3.0 refers to industrialization platform+institutional angel+open innovation, which solves the problem of precise demand and rapid marketing of start-ups and will provide social financing channels for the development of small and medium-sized enterprises in China.

Industrialization platform and open innovation have been seen by many industry leaders, such as Microsoft. In this field, there are more and more local investments in China, such as Maipu Venture Capital, which focuses on TMT (technology, media and telecommunications). Relying on its own industry industrialization background, it devotes itself to initial investment and provides all-round entrepreneurial cultivation services, aiming at helping young people and start-ups in China to innovate and accelerate their development, and providing all-round services such as capital and market. At present, many achievements and outputs such as E3G have been produced.

Angel investor

Angel investor, also known as angel investor, is a form of equity capital investment, which refers to the early direct investment by individuals or institutions with certain net wealth to start-ups with great development potential, and belongs to a spontaneous and decentralized private investment method.

The term angel investment originated from Broadway in new york, especially when the rich give money to some people.

Public welfare behavior of social performance. For those actors who are full of ideals, these sponsors fall from the sky like angels, making their beautiful ideals come true. Later, angel investment expanded to early investment in high-risk and high-yield emerging enterprises. Accordingly, these wealthy investors are called investment angels, business angels, angel investors or angel investors. The capital used for investment is called angel capital.

Angel capital mainly comes from three aspects:

1, a former entrepreneur;

2. Rich people in the traditional sense;

3. Senior managers of large high-tech companies or multinational companies. In some countries with better economic development, the government has also played the role of an angel investor.

Angel investors can be divided into the following categories: wealthy individual investors, family investors, angel investment consortia and partner investors. According to the background of angel investors, angel investors can be divided into the following categories: management investors, auxiliary investors and profit-making investors.

The so-called angel investment is a concept Any company or individual who has spare money and is willing to invest outside the main business can be called an angel investor. They are more involved in early projects that are easy to participate in, and some angels dare to invest in big projects. However, it is generally limited by the scope of capital and personal ability or interfered by various factors, that is, what private equity pe does.

At present, the famous angels with investment cases in China are: Ge Xi, Wang, Zhu Min, Deng Feng, Pang, Zhang, Li Ling, Li, Liu Xiaoren, Lei Jun, Yang Ning, Shen Nanpeng, Zhang Xiangning, Zhou Hongyi, Jiang Xipei, Xue Manzi, Gong Shanbin, Liang Wu, Zheng Xiaojun and Mai Gang. And a group of so-called "rich second generation" investors who are active in many southern provinces in Shanghai, that is, the younger generation who directly engage in various investment or speculation activities with their parents' wealth accumulation, are generally born after the 1980s, and the representative figures are China Venture Capital Association Secretary-General: Shi, Dai Yin, Zhu Shun, etc.

There are also some post-80s angel investments with unique investment ideas, such as Yang Xuan, general manager of DreamWorks Venture Capital, Su Yulie of Qingyang Angel Investment and Xi Ren of Elemental Angel Investment.

The contact information of these angels can't be posted casually, but their company is not hard to find. Finding their company (such as angel investment) is equivalent to finding them.

Eight angel investors that entrepreneurs should avoid

Many angel investors are also stumbling, so entrepreneurs must verify the character and reputation of every potential investor very carefully. Entrepreneurs' eagerness to obtain funds will often lead to disastrous consequences and become playthings in the hands of these rambling investors.

Many entrepreneurs believe that money is created equal. As long as someone recognizes their creativity worth $6,543,800 and writes them a check, the source of the money really doesn't matter. In fact, most angel investors are very simple, but there are exceptions. If you meet them, you may pay more than you put in.

1, shark angel investor

This kind of person is the worst guy. The sole purpose of their participation in early investment is to take advantage of entrepreneurs' inexperience in financing and trading. If the long-term debt process becomes pure torture, then you will grovel to investors.

2. Litigation angel investors

Litigation angel investors will find all kinds of excuses to take you to court. This kind of angel investor never cares about the return your company can provide, but tries to make money through intimidation, threats and lawsuits. They know that you have no resources to fight them, so they decide that you will surrender. When you meet such an angel investor, you should keep close contact with your lawyer.

3. Excellent angel investors

There are many angel investors from successful business people who think they have obvious advantages over others. These people are usually arrogant and negative people. They hysterically criticize every decision you make. With such an angel investor, you must not be scared and make a wrong decision.

4. Control crazy angel investors

This kind of angel investor seems to be your best new friend at first. Once you get the financing, he will wait. As long as you make a mistake, he will come up with an agreement to upgrade the terms that give him more control to the terms that must enter your company, and he will personally control your company. At this time, the only thing that can save you is your board of directors.

5. Angel Investor Tutorial

Tutorial angel investors don't control you, but want to teach you everything by hand. Consulting before investing sounds good. But after they wrote you a check, they wanted to help you 24 hours a day. This is the biggest worry. At first, you thank them for their investment, and you may tolerate them, but in the end, this burden will crush you. Keeping a distance from them is the best solution.

6. Angels of the past

Such angel investors often appear in every period of economic turmoil. They are usually "trapeze artists" with cash flow problems. They join some clubs every day, but they are heavily in debt. They will meet you and ask you many questions, but they will never make a deal with you. When dealing with them, learn to end the conversation.

7.stupid angel investors

Wealth is not synonymous with business elites. You can tell whether they are stupid angel investors by the questions they ask. If they ask superficial questions or don't understand business at all, it is impossible to form a successful long-term cooperative relationship with them. But don't forget, rich people usually have smart friends.

8. Brokers pretend to be angel investors.

Such people can be found everywhere. They usually pretend to be lawyers and accountants. They have no intention of investing in your company at all, but will induce you to sign a fee agreement and introduce you to real investors. The work of a broker is often worthwhile, but you should know who an angel is and not be misled.

How to avoid these angel investors? Whenever possible, only accept credible personal investment or investment from professional angel investment institutions, and don't accept people who deliberately seduce you. Even so, you should do some due diligence in the industry. Ask other companies they have invested in, ask their bosses and see what kind of investors they have.

Also, let lawyers write initial investment documents or long-term balance sheets, not investors. Such a document should be a standard document for all your investors, not a one-on-one negotiation. You know, the supplementary terms may bite you back. Not all angels want to get their wings.

Five questions about angel investment

Can wealth increase in value?

I have contacted quite a few private entrepreneurs or individual bosses before, but I have no investment channels. I heard that angels are very popular, and they often earn ten times or more in a few years. I asked: how much rate of return and rate of return can be guaranteed by taking money as an angel?

It's hard to say. I think most angels have an idealistic complex. Idealists may be able to create miracles, but I can't answer the probability of creating miracles. It may be all luck. Therefore, to be an angel in the form of a fund, the first limitation is that it is not easy to raise funds; The second is that the fund plate is large, so it is difficult for you to put all that money out in a reasonable time.

What is reliable and how to vote?

Investing in acquaintances is a bonus, and investing in familiar areas is a bonus. I really can't explain the rest. I remember when I first started this industry, I could say one or two things myself. I don't think it is easy, so I won't say it.

If you have a lot of VC networks behind you, I think you can choose a good project, without emphasizing that the founder must have the resources to exit the channel relationship. If you are an angel investor who just entered the business, I suggest you invest in entrepreneurs with VC networks behind them.

Can I sell it? Who is my next home?

Sales is a kind of ability, marketing ability. Often you need to have a good interaction with potential VC, or form a circle, he has trust in your character, professional ability and professional judgment. Therefore, I think a good angel organization is good at establishing and maintaining relationships in addition to strong team professional judgment.

Should angel investment increase exit channels?

At present, there is a general direction, that is, the RMB will gradually move towards internationalization. On the one hand, China's economic and political influence in the world will gradually strengthen; On the other hand, it is estimated that the abnormally high inflation rate in China can only be alleviated by exporting the RMB internationally to other countries.

Then it will be easier for domestic enterprises to go public abroad in the future. Generally speaking, the return rate of listing in some foreign countries is not high, and China concept enterprises are questioned in overseas markets, but it is at least a financing channel. Future exit channels are not only A-share IPO, H-share IPO, New Third Board, but also capital market exit channels in Australia, France, Singapore and other countries.

Should angel investment introduce government capital?

The angel stage is especially concentrated in the incubation and initial stage. I think such a high investment risk is similar to public welfare in a sense. At this time, the government should step forward, set up an early investment guidance fund, guide the participation of social capital, and increase efforts to support the development of start-ups. In this regard, I understand that Ningbo's policy is better.