Venture Capital Law in China

Lin, Lin

doi:10.1017/9781108528795

Cited by 6 publications

(6 citation statements)

References 94 publications

(16 reference statements)

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“…Many VC markets worldwide have been engineered by states (see Klingler-Vidra, 2018;Lin, 2021;Weiss 2014). In the US, federal agencies driven by national security imperatives have historically played a foundational role in the VC market (Lerner, 2009;Mazzucato, 2013;Mazzucato and Penna, 2016).…”

Section: The Vc Market: What It Is How It Work and What We Know About...mentioning

confidence: 99%

“…Here, once more European and national public funds play an outstanding role, with the European Commission increasing the funding for the European Investment Fund (the EU's main body for VC activity) and establishing the European Innovation Council (EIC) in 2021. In the context of the geoeconomic competition with China, but also the US, both of which have historically interfered in the VC market, though driven by different motivations (Keller, 2011;Lin, 2021), the EU increasingly seeks to invest these funds strategically achieve technological sovereignty. The money thus invested is supposed to incubate EU start-ups in emerging technological sectors (e.g.…”

Section: Introductionmentioning

confidence: 99%

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Breeding ‘unicorns’: Tracing the rise of the European investor state in the European venture capital market

Mocanu,

Thiemann

2023

Competition & Change

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This paper takes the recent public policy innovations of the European Commission to foster the growth of ‘unicorns’ through direct interventions as an entry point to inquire into the changing role of the EU in the European Venture Capital Market. Based on a reconstruction of EU public policy interventions from the 1990s onwards, we show the constitutive, yet changing role of EU public actors in that market. The latest engagement of EU public policy, aiming to select and nurture start-ups with the potential to become unicorns, we argue, must be understood as a new layer in this trajectory of foundational market investment. Moving from an initial ‘market crafting’ approach (1990–2000) to ‘market fixing’ (2001–2013), this new mode of intervention represents a qualitatively new level, which seeks to shape innovation outcomes along a European investment chain. We identify this modality of intervention as a new form of economic statecraft, driven by the goal of securing technological sovereignty, which together with the two other layers forms the basis of the European Investor State.

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Section: The Vc Market: What It Is How It Work and What We Know About...mentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Breeding ‘unicorns’: Tracing the rise of the European investor state in the European venture capital market

Mocanu,

Thiemann

2023

Competition & Change

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“…However, for reasons of prudence, the focus of this paper remains centred on VC funds. 32 Lin (2019), pp 563-594. See further, e.g., my interview with Ms Lv from Impact Hub Shanghai, 29 Oct 2020 (script with author), in which she mentioned that a bulk part of their LPs included sophisticated investors from wealthy families.…”

Section: Basic Characteristicsmentioning

confidence: 99%

“…Gilson (2003), pp 1081-1083.119 Lin (2021), pp 1-43.120 Gilson (2003), p 1072.121 Sullivan et al (2019).122 MacNeil and Esser (2021).…”

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confidence: 99%

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Venture Capital in the Rise of Sustainable Investment

Lin

2022

Eur Bus Org Law Rev

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In recent years, the world has witnessed a soaring inflow of capital into sustainable investment. This is particularly so following the devastating COVID-19 pandemic. However, while a growing amount of literature has been deliberating debt financing in sustainable investment, less ink has been spilt on equity financing in this area, and even less scholarship has explored the role of government and law in supporting sustainable venture capital ('VC') funds. This paper proposes a dualist approach towards facilitating the development of sustainable VC funds encompassing a contractarian strategy with government support. The contractarian approach includes effective contracting covering the entire VC cycle in sustainable investment. It aims to provide strong incentives for all participants, ranging from investors, entrepreneurs and fund managers, to credit-rating agencies and evaluation firms. In the same vein, this paper seeks to craft a role for regulators that facilitates the simultaneous availability of several factors in a sustainable VC cycle (i.e., fund raising, investment and exit). In the fund-raising stage, governments can play an active role by expanding the source of financing for sustainable VC funds and enacting detailed and targeted legislation. In the VC investment stage, sustainable VC funds should make full use of their strong corporate governance rights and monitoring tasks to ensure that start-ups deliver on their sustainable promises. In the exit stage, a specialised sustainability board is strongly recommended to offer viable exit options, together with greater standardisation and comparability in sustainability information disclosure, and regulatory support for trustworthy sustainable impact rating agencies to sustain investor confidence.

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Venture Capital Law in Cambodia: Engineer the Regulatory Framework to Promote the Startup Ecosystem

Soeun

2023

Asian J. Comp. Law

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As the startup ecosystem emerges, Cambodia requires a distinct set of legal frameworks to promote many regulatory aspects to boost national innovation and strengthen the connection of key players in the ecosystem. One of them is financial support for startups, ‘Venture Capital Law’. Therefore, this paper studies the current existing legal framework of Venture Capital (VC) in Cambodia, key bottlenecks that VC encountered, comparative analysis with other countries such as the United States, Japan, and China, and then propose new regulatory frameworks which solve the key bottlenecks and aim to optimise the growth of a startup ecosystem. The finding is that different stages of VC present different bottlenecks such as fundraising (funding source), startup investment (investment readiness of the startup, and deal structure), and exit (immature the capital market for startup's IPO and lack of regulations for Merger and Acquisition (M&A)). The new regulatory frameworks should endorse the use of pension funds as a source of VC funds in the future, encourage private corporations to invest in startup causes, include regulations to promote the readiness of founders, encourage the use of convertible notes, and fasten the regulation governing M&A with the balance of antitrust law.

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Venture Capital Law in China

Cited by 6 publications

References 94 publications

Breeding ‘unicorns’: Tracing the rise of the European investor state in the European venture capital market

Breeding ‘unicorns’: Tracing the rise of the European investor state in the European venture capital market

Venture Capital in the Rise of Sustainable Investment

Venture Capital Law in Cambodia: Engineer the Regulatory Framework to Promote the Startup Ecosystem

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