Why the summer after winter suddenly Deep analysis of the causes and Countermeasures of the capital

from July 2014 to July 2015, the amount of private placement of listed companies raised significantly, and the number of investment cases is very high correlation. In fact, the final disk access to these projects or from the listed company’s capital, and the listed company’s funds from the public or non-public offering.


2015, the second half of the capital markets will enter the winter

. Two market is the core power of the primary market bubble, the linkage effect is obvious

1.1, August wind has changed

July 2015, the United States is expected to E round of financing $1 billion, valued at $15 billion. However, within two months, the U.S. group for two consecutive times lower valuation, the current valuation down to around $10 billion; at the same time, in the D round of financing in March this year, women share shopping and shopping guide community of mogujie.com, originally planned to raise $300 million, $2 billion valuation, but after five months the valuation to $1 billion 600 million, famous Private Equity Investment Firm Carlyle Group no longer participate in the negotiations on investment.

We often hear the recent

investment circles from smaller institutions friends mentioned before, the market direction changes, many of them are optimistic about the project, due to the pursuit of the project too many agencies, entrepreneurs are very strong, and even some excessive demands. But the recent market turns cold, these entrepreneurs also changed the past overbearing attitude, active postures, reconnecting with these they don’t want to be able to finance the same institution, the valuation of more than one round.

A start-up car repair

Shenzhen APP "training" representative cases, in the hope of 30 million yuan investment, "training" rejected a 3 million yuan of venture capital in January this year, and by the end of August, all refused to invest in the venture capital institutions, so that "culture" was forced to close its service. September 11th, Beijing koala bus stop operating because of financing difficulties, the transfer of drops of the bus to take over, on-line operation only six months.

with the August 2015 A shares of the earthquake, as well as the United States listed Chinese stocks collective fade, from investment institutions to start-up companies, capital chain tightening. Many entrepreneurs can raise all exclaimed "you can get the money, because the market is changing direction."

1.2, what happened before the winter

in the analysis of the causes of the winter, we need to analyze why the market before the winter overheating, the bubble will break, it must be blown too large.

1.2.1, before the winter is midsummer

a few years ago, a technology company may be listed after entering

"$one billion club", but now many non listed enterprises of science and technology has reached this level, and even some well-known companies financing through VC has.

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