1, public listing (IPO)

Public listing (IPO) means that venture capitalists convert their private interests into public shares through public listing of shares of venture enterprises, and then realize capital appreciation by changing hands after being recognized by the market. Public listing is unanimously regarded as the most ideal exit channel for private equity investment, mainly because public listing in the securities market can make investors get high returns.

2.M&A or repurchase

Share merger and acquisition refers to an exit channel for an ordinary company or another private equity investment company to acquire or merge shares held by private equity funds at an agreed price. There are two kinds of share sales: one is the acquisition and merger between companies; Secondly, it refers to being acquired by another private equity fund. Share repurchase refers to the purchase of shares held by private equity funds by investment enterprises or entrepreneurs themselves. Usually, entrepreneurs have to buy back shares at a premium to ensure the basic income level of private equity funds.

3. Bankruptcy liquidation

When an investment enterprise is declared bankrupt according to law because it cannot pay off its due debts, it shall organize shareholders, relevant professionals and units to set up a liquidation group to conduct bankruptcy liquidation of the startup enterprise in accordance with relevant laws and regulations. For private equity funds, once it is confirmed that the enterprise has lost the possibility of development or the growth is too slow to give the expected high return, it is necessary to decisively withdraw and use the recovered funds for the next investment cycle.