風投和天使投資的區(qu)別

風(feng)險(xian)(xian)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)和天(tian)使(shi)(shi)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)的(de)(de)區別一、風(feng)險(xian)(xian)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)是(shi)(shi)介于(yu)間接(jie)融(rong)(rong)資(zi)(zi)(zi)(zi)與直(zhi)(zhi)接(jie)融(rong)(rong)資(zi)(zi)(zi)(zi)之間的(de)(de)一種融(rong)(rong)資(zi)(zi)(zi)(zi)方式，天(tian)使(shi)(shi)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)是(shi)(shi)直(zhi)(zhi)接(jie)融(rong)(rong)資(zi)(zi)(zi)(zi)。風(feng)險(xian)(xian)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)是(shi)(shi)從其(qi)他(ta)人那里融(rong)(rong)資(zi)(zi)(zi)(zi)過來，然后進行(xing)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)，是(shi)(shi)進行(xing)代(dai)理投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)，但同時風(feng)險(xian)(xian)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)參(can)與企業的(de)(de)資(zi)(zi)(zi)(zi)金(jin)投(tou)(tou)(tou)(tou)入(ru)和管理。天(tian)使(shi)(shi)投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)是(shi)(shi)屬于(yu)直(zhi)(zhi)接(jie)融(rong)(rong)資(zi)(zi)(zi)(zi)的(de)(de)范圍(wei)，投(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)者的(de)(de)資(zi)(zi)(zi)(zi)金(jin)是(shi)(shi)直(zhi)(zhi)接(jie)投(tou)(tou)(tou)(tou)入(ru)的(de)(de)。

風險投資(zi)和(he)(he)天使(shi)(shi)投資(zi)的區(qu)別(bie)二(er)、風險投資(zi)家(jia)和(he)(he)天使(shi)(shi)投資(zi)家(jia)在職能(neng)和(he)(he)收(shou)(shou)益(yi)方(fang)式上(shang)有(you)顯著(zhu)區(qu)別(bie)。風險投資(zi)家(jia)是(shi)管(guan)(guan)(guan)理(li)和(he)(he)投資(zi)其(qi)他人的錢，而(er)天使(shi)(shi)投資(zi)家(jia)是(shi)管(guan)(guan)(guan)理(li)和(he)(he)投資(zi)自己的錢。從職能(neng)上(shang)講(jiang)，前者(zhe)是(shi)資(zi)金(jin)(jin)管(guan)(guan)(guan)理(li)者(zhe)，替資(zi)金(jin)(jin)所(suo)有(you)者(zhe)管(guan)(guan)(guan)理(li)資(zi)金(jin)(jin)；而(er)后(hou)者(zhe)既是(shi)資(zi)金(jin)(jin)管(guan)(guan)(guan)理(li)者(zhe)又是(shi)資(zi)金(jin)(jin)所(suo)有(you)者(zhe)。從收(shou)(shou)益(yi)方(fang)式看，前者(zhe)管(guan)(guan)(guan)理(li)別(bie)人的資(zi)金(jin)(jin)，因而(er)收(shou)(shou)獲一定的管(guan)(guan)(guan)理(li)費(fei)用，和(he)(he)一部分投資(zi)利(li)潤(run)；后(hou)者(zhe)沒有(you)管(guan)(guan)(guan)理(li)費(fei)用，而(er)獲得全部的投資(zi)利(li)潤(run)。

風險投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)和天(tian)使(shi)(shi)投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)的(de)區別三、風險投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)和天(tian)使(shi)(shi)投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)在投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)規模、投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)偏好、投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)風格和投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)成(cheng)(cheng)本上(shang)均有不同程(cheng)度的(de)區別。由(you)于風險投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)的(de)資(zi)(zi)(zi)(zi)(zi)(zi)金大都(dou)來源于機構投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)者(zhe)，因此(ci)其(qi)(qi)(qi)管理的(de)資(zi)(zi)(zi)(zi)(zi)(zi)金數額較(jiao)大。與天(tian)使(shi)(shi)投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)相比，其(qi)(qi)(qi)每筆(bi)的(de)投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)額度也(ye)相對較(jiao)高(gao)。相對天(tian)使(shi)(shi)投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)來講(jiang)，風險投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)的(de)規模較(jiao)大，其(qi)(qi)(qi)投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)也(ye)自然偏向(xiang)于成(cheng)(cheng)熟一(yi)些(xie)(xie)的(de)企(qi)業。一(yi)般地，風險投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)將其(qi)(qi)(qi)全部投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)總額的(de)25%投(tou)(tou)(tou)(tou)(tou)(tou)(tou)入(ru)種(zhong)子期或者(zhe)早期項目；而(er)天(tian)使(shi)(shi)投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)卻有65%以上(shang)投(tou)(tou)(tou)(tou)(tou)(tou)(tou)入(ru)這(zhe)些(xie)(xie)項目。從這(zhe)個意義上(shang)來講(jiang)，天(tian)使(shi)(shi)投(tou)(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)(zi)(zi)更(geng)具(ju)有“新興企(qi)業的(de)發動機”性質(zhi)。