创业与融资课程学习

主要融资渠道

项目融资阶段

![image-20191219152423163](/Users/liguo/Library/Application Support/typora-user-images/image-20191219152423163.png)

天使投资起源：百老汇；

我国投资现状：![image-20191219152712212](/Users/liguo/Library/Application Support/typora-user-images/image-20191219152712212.png)

![image-20191219152800355](/Users/liguo/Library/Application Support/typora-user-images/image-20191219152800355.png)

风险投资

![image-20191219152845933](/Users/liguo/Library/Application Support/typora-user-images/image-20191219152845933.png)

硅谷是风险投资最活跃的地方；

私募股权基金

![image-20191219153047142](/Users/liguo/Library/Application Support/typora-user-images/image-20191219153047142.png)

![image-20191219153128034](/Users/liguo/Library/Application Support/typora-user-images/image-20191219153128034.png)

![image-20191219153151421](/Users/liguo/Library/Application Support/typora-user-images/image-20191219153151421.png)

![image-20191219153225341](/Users/liguo/Library/Application Support/typora-user-images/image-20191219153225341.png)

天使投资

是什么

看中未来，偏向于个人的投资；

马库拉与苹果公司；

贝索斯和谷歌；

软银和马云

![image-20191219153543049](/Users/liguo/Library/Application Support/typora-user-images/image-20191219153543049.png)

分类

![image-20191219153812698](/Users/liguo/Library/Application Support/typora-user-images/image-20191219153812698.png)

投资模式

![image-20191219154202968](/Users/liguo/Library/Application Support/typora-user-images/image-20191219154202968.png)

特点：

![image-20191219154401169](/Users/liguo/Library/Application Support/typora-user-images/image-20191219154401169.png)

趋势

![image-20191219154505558](/Users/liguo/Library/Application Support/typora-user-images/image-20191219154505558.png)

如何吸引投资

![image-20191219154627776](/Users/liguo/Library/Application Support/typora-user-images/image-20191219154627776.png)

风险投资与私募

有限合伙人制度，无限合伙人无限责任；

投资过程

![image-20191219155157612](/Users/liguo/Library/Application Support/typora-user-images/image-20191219155157612.png)

基金分类

![image-20191219155343555](/Users/liguo/Library/Application Support/typora-user-images/image-20191219155343555.png)

青睐

![image-20191219155507939](/Users/liguo/Library/Application Support/typora-user-images/image-20191219155507939.png)

标准

![image-20191219155534729](/Users/liguo/Library/Application Support/typora-user-images/image-20191219155534729.png)

关注要素

团队：

![image-20191219155832639](/Users/liguo/Library/Application Support/typora-user-images/image-20191219155832639.png)

私募股权

![image-20191219160059332](/Users/liguo/Library/Application Support/typora-user-images/image-20191219160059332.png)

管理协议

![image-20191219160151057](/Users/liguo/Library/Application Support/typora-user-images/image-20191219160151057.png)

股权发展

![image-20191219160911049](/Users/liguo/Library/Application Support/typora-user-images/image-20191219160911049.png)

私募障碍

![image-20191219160947469](/Users/liguo/Library/Application Support/typora-user-images/image-20191219160947469.png)

私募基金和公募基金区别

![image-20191219161042491](/Users/liguo/Library/Application Support/typora-user-images/image-20191219161042491.png)

风险应对

![image-20191219161200364](/Users/liguo/Library/Application Support/typora-user-images/image-20191219161200364.png)

特征

![image-20191219161248286](/Users/liguo/Library/Application Support/typora-user-images/image-20191219161248286.png)

案例

扎克伯格，

阿里巴巴

软银中国

![image-20191219161835751](/Users/liguo/Library/Application Support/typora-user-images/image-20191219161835751.png)

尽职调查

投资标准

![image-20191219162005215](/Users/liguo/Library/Application Support/typora-user-images/image-20191219162005215.png)

现金流

![image-20191219162051731](/Users/liguo/Library/Application Support/typora-user-images/image-20191219162051731.png)

机会成本：潜在资产最大利润；看不见，但是影响决策；

沉淀成本：不起决策作用，看得见摸得着

![image-20191219162215461](/Users/liguo/Library/Application Support/typora-user-images/image-20191219162215461.png)

投资项目决策分析

调查内容

![image-20191219162740022](/Users/liguo/Library/Application Support/typora-user-images/image-20191219162740022.png)

![image-20191219162803633](/Users/liguo/Library/Application Support/typora-user-images/image-20191219162803633.png)

![image-20191219162826750](/Users/liguo/Library/Application Support/typora-user-images/image-20191219162826750.png)

![image-20191219162843813](/Users/liguo/Library/Application Support/typora-user-images/image-20191219162843813.png)

![image-20191219162921478](/Users/liguo/Library/Application Support/typora-user-images/image-20191219162921478.png)

![image-20191219163026641](/Users/liguo/Library/Application Support/typora-user-images/image-20191219163026641.png)

![image-20191219163109095](/Users/liguo/Library/Application Support/typora-user-images/image-20191219163109095.png)

![image-20191219163147092](/Users/liguo/Library/Application Support/typora-user-images/image-20191219163147092.png)

调查原则

![image-20191219163316644](/Users/liguo/Library/Application Support/typora-user-images/image-20191219163316644.png)

![image-20191219163356118](/Users/liguo/Library/Application Support/typora-user-images/image-20191219163356118.png)

![image-20191219163437891](/Users/liguo/Library/Application Support/typora-user-images/image-20191219163437891.png)

财务分析：

![image-20191219163541370](/Users/liguo/Library/Application Support/typora-user-images/image-20191219163541370.png)

![image-20191219163637815](/Users/liguo/Library/Application Support/typora-user-images/image-20191219163637815.png)

![image-20191219164145910](/Users/liguo/Library/Application Support/typora-user-images/image-20191219164145910.png)

![image-20191219164218325](/Users/liguo/Library/Application Support/typora-user-images/image-20191219164218325.png)

![image-20191219164252820](/Users/liguo/Library/Application Support/typora-user-images/image-20191219164252820.png)

创业企业缺点

![image-20191219164451915](/Users/liguo/Library/Application Support/typora-user-images/image-20191219164451915.png)

![image-20191219164547586](/Users/liguo/Library/Application Support/typora-user-images/image-20191219164547586.png)

![image-20191219164619669](/Users/liguo/Library/Application Support/typora-user-images/image-20191219164619669.png)

![image-20191219164654303](/Users/liguo/Library/Application Support/typora-user-images/image-20191219164654303.png)

![image-20191219164732187](/Users/liguo/Library/Application Support/typora-user-images/image-20191219164732187.png)

改进

![image-20191219164818403](/Users/liguo/Library/Application Support/typora-user-images/image-20191219164818403.png)

![image-20191219164857543](/Users/liguo/Library/Application Support/typora-user-images/image-20191219164857543.png)

![image-20191219165026081](/Users/liguo/Library/Application Support/typora-user-images/image-20191219165026081.png)

![image-20191219165106295](/Users/liguo/Library/Application Support/typora-user-images/image-20191219165106295.png)

公开上市流程

直接上市，

间接上市：买壳上市，借壳上市

![image-20191219165601155](/Users/liguo/Library/Application Support/typora-user-images/image-20191219165601155.png)

上市程序

![image-20191219165811839](/Users/liguo/Library/Application Support/typora-user-images/image-20191219165811839.png)

退出方式

![image-20191219170658133](/Users/liguo/Library/Application Support/typora-user-images/image-20191219170658133.png)

市场分类

![image-20191219170818354](/Users/liguo/Library/Application Support/typora-user-images/image-20191219170818354.png)

![image-20191219170839185](/Users/liguo/Library/Application Support/typora-user-images/image-20191219170839185.png)

众筹融资

初创公司：天使投资的特例

成熟公司：债券

个人公司：p2p的借贷

民间资本直接介入金融；

互联网金融

![image-20191219171109534](/Users/liguo/Library/Application Support/typora-user-images/image-20191219171109534.png)

![image-20191219171222586](/Users/liguo/Library/Application Support/typora-user-images/image-20191219171222586.png)

众筹模式：

![image-20191220171146238](/Users/liguo/Library/Application Support/typora-user-images/image-20191220171146238.png)

![image-20191220171256934](/Users/liguo/Library/Application Support/typora-user-images/image-20191220171256934.png)

p2p模式![image-20191220171506073](/Users/liguo/Library/Application Support/typora-user-images/image-20191220171506073.png)

国外的P2P模式

![image-20191220171822031](/Users/liguo/Library/Application Support/typora-user-images/image-20191220171822031.png)