(1) Angel Wheel: At the very beginning, maybe it was just an idea, nothing, and even the enterprise was not registered. At this time, the investors who invest in the project are called angel investors.
If you don't take the money from angel investors, after the enterprise has been operating for a period of time, the goods will come out, but the enterprise is still quite weak. At this time, taking project investment is also called angel wheel.
(2) Round A: The commodity prototype has gradually emerged, but it is still very weak, and it has not yet made a profit and has not produced self-hematopoietic function. At this time, the risk of the enterprise is still very large, and the investors who invest in the project are usually called professional investors (VC); Some cultural and entertainment enterprises originally wanted money from their founders, and there were no angel investors and no external financing. When they raised equity, they already made a profit of tens of millions or even tens of millions. At this time, I think the first equity financing was all round A. At this time, round A means more rounds.
(3) Round B: The relative maturity of enterprises is clear, and more assets are needed to copy. At this time, investors are either professional investors again, or PE funds are gradually entering.
the meaning of PE fund is not discussed, and it is immediately interpreted as that PE fund investment is a fund of relatively start-up enterprises.
The difference between p>PE fund and venture capital is that venture capital investment is more initial, when the company's valuation becomes lower, and it wants to take great risks to win higher returns; In the middle and late stage of PE fund investment, the company's valuation is usually better. They prefer to invest in more start-up enterprises after reducing the risk of project investment.
(4) Round C: The company model is very perfect, and at this time, the enterprise usually has a scale of operation. At this time, the investment project charity foundation is dominated by PE fund.