The leading position of equity investment in science and technology finance is naturally generated.
Science and technology finance refers to an institutional arrangement that government departments, equity investment institutions, banking, securities industry, insurance financial institutions and capital markets provide diversified relay financial services for science and technology enterprises in all stages of development from the initial stage to the mature stage by innovating financial products, improving service models and building service platforms. It can be seen that the emergence of science and technology finance and science and technology financial service system is naturally closely related to the scientific and technological innovation activities of science and technology enterprises. In other words, the innovation of scientific and technological enterprises begins with scientific and technological innovation, but ends with scientific and technological innovation. Only the scientific and technological innovation of scientific and technological enterprises and science and technology finance work closely together can we transform new technologies, build new scenes, cultivate new industries and form new kinetic energy.
It can be seen that, firstly, in the whole life cycle of technology-based enterprises from seed stage to maturity stage, only equity investment is a meticulous care for technology-based enterprises, providing all-round services and always supporting their continuous growth and growth. Second, the characteristics of science and technology enterprises are "four highs", that is, high technology content, high investment, high growth and high risk. Therefore, investment in science and technology enterprises must have long-term investment thinking, and it is futile to expect to make quick money in a short time. Moreover, in the process of running and accompanying, we should also be prepared to fall into the "Death Valley" with technology-based enterprises at any time. Therefore, equity investment belongs to venture capital, and equity investment institutions belong to venture capital institutions. Investment institutions that do not have certain advantages and conditions cannot join the equity investment team at will. It is precisely because of this that it highlights the "vanguard" role of equity investment in the science and technology financial system. Third, high risk will also bring high returns to equity investment institutions, that is to say, equity investment is a high-risk and high-return investment method. Equity investment institutions rely on the "power law" to be the most successful investors, and their strategic goal is that the profit formed by the final investment must cover the sum of all losses, no matter how many losses there are during the investment. Therefore, from this perspective, equity investment must have a longer-term strategic vision.
