風險投(tou)資(zi)和(he)天(tian)使投(tou)資(zi)的(de)區別(bie) 風險投(tou)資(zi)和(he)天(tian)使投(tou)資(zi)的(de)3大區別(bie)

風(feng)險投(tou)(tou)資和天使(shi)投(tou)(tou)資的(de)(de)區別 風(feng)險投(tou)(tou)資和天使(shi)投(tou)(tou)資的(de)(de)3大區別

天(tian)使投資與風險(xian)投資有(you)類似(si)的地方，但也有(you)明顯的區別，主(zhu)要有(you)以下幾點(dian)：

風險(xian)投(tou)資(zi)和天(tian)(tian)使(shi)投(tou)資(zi)的(de)區別(bie) 風險(xian)投(tou)資(zi)和天(tian)(tian)使(shi)投(tou)資(zi)的(de)3大區別(bie)

風(feng)險投(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)和天(tian)使(shi)(shi)投(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)的(de)區別一，風(feng)險投(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)是(shi)介于間接融資(zi)(zi)(zi)與(yu)直接融資(zi)(zi)(zi)之間的(de)一種(zhong)融資(zi)(zi)(zi)方(fang)式，天(tian)使(shi)(shi)投(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)是(shi)直接融資(zi)(zi)(zi)。風(feng)險投(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)是(shi)從其他人那(nei)里融資(zi)(zi)(zi)過來，然后進行投(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)，是(shi)進行代(dai)理(li)投(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)，但同時(shi)風(feng)險投(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)參與(yu)企業的(de)資(zi)(zi)(zi)金(jin)投(tou)(tou)(tou)(tou)(tou)(tou)入和管(guan)理(li)。天(tian)使(shi)(shi)投(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)是(shi)屬(shu)于直接融資(zi)(zi)(zi)的(de)范圍，投(tou)(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)者的(de)資(zi)(zi)(zi)金(jin)是(shi)直接投(tou)(tou)(tou)(tou)(tou)(tou)入的(de)。

風(feng)險投(tou)資(zi)(zi)(zi)(zi)和天使投(tou)資(zi)(zi)(zi)(zi)的區別二，風(feng)險投(tou)資(zi)(zi)(zi)(zi)家和天使投(tou)資(zi)(zi)(zi)(zi)家在職(zhi)能和收益方式(shi)上(shang)有顯(xian)著區別。風(feng)險投(tou)資(zi)(zi)(zi)(zi)家是(shi)管(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)和投(tou)資(zi)(zi)(zi)(zi)其(qi)他人的錢，而(er)天使投(tou)資(zi)(zi)(zi)(zi)家是(shi)管(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)和投(tou)資(zi)(zi)(zi)(zi)自己的錢。從職(zhi)能上(shang)講，前者(zhe)是(shi)資(zi)(zi)(zi)(zi)金(jin)管(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)者(zhe)，替資(zi)(zi)(zi)(zi)金(jin)所(suo)有者(zhe)管(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)資(zi)(zi)(zi)(zi)金(jin)；而(er)后者(zhe)既是(shi)資(zi)(zi)(zi)(zi)金(jin)管(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)者(zhe)又(you)是(shi)資(zi)(zi)(zi)(zi)金(jin)所(suo)有者(zhe)。從收益方式(shi)看，前者(zhe)管(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)別人的資(zi)(zi)(zi)(zi)金(jin)，因而(er)收獲(huo)一(yi)定的管(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)費(fei)用(yong)，和一(yi)部(bu)分投(tou)資(zi)(zi)(zi)(zi)利(li)潤；后者(zhe)沒有管(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)費(fei)用(yong)，而(er)獲(huo)得全部(bu)的投(tou)資(zi)(zi)(zi)(zi)利(li)潤。

風(feng)(feng)險(xian)(xian)(xian)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)和(he)天(tian)使(shi)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)的(de)區別三，風(feng)(feng)險(xian)(xian)(xian)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)和(he)天(tian)使(shi)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)在(zai)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)規(gui)模、投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)偏好、投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)風(feng)(feng)格和(he)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)成本上(shang)均有不同程度的(de)區別。由于(yu)(yu)風(feng)(feng)險(xian)(xian)(xian)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)的(de)資(zi)(zi)(zi)(zi)金(jin)大都來(lai)源于(yu)(yu)機構投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)者，因此其(qi)(qi)管理的(de)資(zi)(zi)(zi)(zi)金(jin)數額較(jiao)大。與天(tian)使(shi)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)相比，其(qi)(qi)每(mei)筆的(de)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)額度也相對較(jiao)高。相對天(tian)使(shi)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)來(lai)講(jiang)，風(feng)(feng)險(xian)(xian)(xian)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)的(de)規(gui)模較(jiao)大，其(qi)(qi)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)也自然偏向于(yu)(yu)成熟一(yi)些的(de)企(qi)業(ye)。一(yi)般地，風(feng)(feng)險(xian)(xian)(xian)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)將其(qi)(qi)全部投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)總額的(de)25%投(tou)(tou)(tou)(tou)(tou)入(ru)種(zhong)子(zi)期或者早(zao)期項(xiang)目(mu)；而(er)天(tian)使(shi)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)卻有65%以上(shang)投(tou)(tou)(tou)(tou)(tou)入(ru)這(zhe)些項(xiang)目(mu)。從這(zhe)個意義上(shang)來(lai)講(jiang)，天(tian)使(shi)投(tou)(tou)(tou)(tou)(tou)資(zi)(zi)(zi)(zi)更(geng)具有“新興企(qi)業(ye)的(de)發動機”性(xing)質。