The exit channels of private equity investment funds mainly include repurchase, merger and acquisition, public listing liquidation and bankruptcy. Different industries have different proportions in these four exit channels. On the whole, the repurchase rate is the highest, followed by M&A, and the public offering (IPO) is close to M&A. The public offering (IPO) of companies in biotechnology, logistics, medical care, computer-related industries and consumer goods is higher; M&A has a high proportion in electronic components, industrial products and medical care. The proportion of liquidation and bankruptcy of computer enterprises is high; Enterprises in consumer goods, industrial products, energy, electronic components, communications and software industries have a high proportion of repurchase.

(1). Exit mode of venture capital fund

( 1)

not quit

Obtain the right of priority repayment, transfer and auction.

(2)

Successfully withdrew from the share repurchase,

Share transfer, enterprise listing