Investment risk refers to the risk of loss or bankruptcy that investors may bear in future business and financial activities in order to achieve their investment purposes, that is, the performance in the investment process. Its classification is: 1. The causes are divided into natural risk, social risk, economic risk and technical risk; 2. The nature of risk can be divided into pure risk and speculative risk; 3. There are systematic risks and non-systematic risks involved in defining the scope.

Legal objectivity:

In the United States and other European countries, the supply sources of venture capital funds include not only individual and government funds, but also institutional investors such as pension funds, insurance companies and investment banks. Although China's pension funds, insurance companies and commercial banks are also the most powerful institutional investors to participate in venture capital. However, the current Law on Commercial Banks and Regulations on Pension Fund Management do not allow commercial banks to participate in venture capital activities. The current Insurance Law has only general provisions on the use of insurance funds, and emphasizes the principle of safety, stipulating that "it shall not be used to set up enterprises outside the insurance industry", which greatly affects the effective supply of venture capital in China. Preventing capital risks and stimulating private capital demand are the most direct and effective means to promote it. The venture capital fund law should be promulgated as soon as possible to attract a large number of private capital through the establishment of venture capital funds. At the same time, the laws and regulations restricting the supply of venture capital have been revised, including the Commercial Bank Law, the Insurance Law and the Measures for the Administration of Pension Funds. Amend these laws and regulations, appropriately relax the investment restrictions on these institutional investors, and allow them to participate in venture capital appropriately, such as allowing a certain proportion of pension funds, insurance funds and the difference between deposits and loans of commercial banks to participate in venture capital. Mobilize social idle funds in many ways and expand the sources of venture capital funds. This can not only meet the needs of long-term preservation and appreciation of pension funds and insurance fees, but also enhance the survival and long-term development of commercial banks, and also solve the problem of insufficient supply of venture capital in China at present and reduce the risk of funds.