NO.PZ201601050300001105
问题如下:
5. The exit route for a venture capital investment is least likely to be in the form of a(n):
选项:
A.
initial public offering (IPO).
B.
sale to other venture funds targeting the same sector.
C.
buyout by the management of the venture investment.
解释:
C is correct.
Leverage needed to finance a management buyout is not readily available to firms with limited history.
考点:VC投资的退出方式
解析:对于venture capital ,一般很难通过管理层收购来实现退出,因为management buyout通常要使用大量的杠杆,但是venture capital所投资的公司很难通过杠杆方式融资。
我理解的是,vc退出代表投资的公司前景不行,接盘有风险,所以转卖很难成功