風險投資
是指投資者以風險資本的形式對尚在發展初期，具有潛在風險的企業進行投資的過程。典型的風險投資要承擔放棄一定的公司所有權及管理控制權。投資者因承擔了高風險因而可以獲得高額的回報。投資形式一般是股票或可以在未來轉換成股票形式的工具。隨著公司經營的成熟，可以通過公開發行股票，公司合併或者出售，或用其他方式的獲得資本。只要風險資本投資者有要退出的意願，上述任何一種形式都有可能採用。風險投資者通常希望在退出時獲得每年２０－５０％的投資回報。風險投資者一般會投資在那些有可能快速發展的公司上，這些公司中任何一家都有潛力產生極高的年收入，如在美國典型的投資額一般在５０萬至５００萬美元之間。管理經驗是評估投資前景的主要考慮因素。
Venture Capital is the process by which investors fund early stage, more risk oriented business endeavors. A venture capital funding arrangement will typically entail relinquishing some level of ownership and control of the business. Offsetting the high risk the investor takes is the promise of high return on the investment. The investment is usually in the form of stock or an instrument which can be converted into stock at some future date. As the business matures, an initial public offering may take place, or the business merged or sold, or other sources of capital found. Any of these would occur with the intention of buying out the venture capitalists. Venture capitalists typically expect a 20-50% annual return on their investment at the time they are brought out. Venture capitalists typically invest in high growth companies with the potential to generate revenues of $20MM in any one company, but typical investments range from between $500,000 and $5MM. Management experience is a major consideration in evaluating financing prospects.
種子投資
一筆提供給投資者或企業家的相對數目較小的資金，通常用來驗證其概念。使用的範圍可以包括產品開發，但很少用於初期市場運作。
Initial/Seed
A relatively small amount of capital provided to an investor or entrepreneur, usually to prove a concept. It may involve product development, but rarely involves initial marketing.
第一階段
為需要擴展初始資本和需要資金的公司企業進行的融資，一般用於開展製造或銷售業務。
First Stage
Financing provided to companies that have expended their initial capital and require funds, often to initiate commercial manufacturing and sales。
第二階段
對已經實現初期資本擴張的公司提供營運資金，公司此時應具有生產運輸能力，擁有不斷增長的財務性收入和存貨。雖然公司已取得明顯進展，但多半還未能產生利潤。
Second Stage
Funds provided for the major growth of a company whose sales volume is increasing and that is beginning to break even or turn profitable. These funds are typically for plant expansion, marketing and working capital development of an improved product.
第三階段
主要為業務增長提供資金，在這一階段的公司銷售量呈不斷增長趨勢並已實現盈虧相抵或開始有盈利。這些資金主要是用來對改良後的產品進行擴大生產、拓展市場營銷渠道和擴大運營資本。
Third Stage
Funds provided for the major growth of a company whose sales volume is increasing and that is beginning to break even or turn profitable. These funds are typically for plant expansion, marketing and working capital development of an improved product.
後續投資
由一個已對公司進行前期投資的投資者繼續投資，總的說來是與初始（種子）投資相對應。
Follow-on/Later Stage
A subsequent investment made by an investor who has made a previous investment in the company — generally a later stage investment in comparison to the initial investment.
全部資金
用來為生產管理中所需購買生產線、收購其他業務所提供的資金，它可以處於公司發展中的任何階段，資金的來源可以是任何上市公司或私人的企業。
Buyout
Funds provided to enable operating management to acquire a product line or business, which may be at any stage of development, from either a public or private company.
二購級買
從公司現有的股東手中收購股票，而不是直接從發行股票的公司購買。
Secondary Purchase
Purchase of stock in a company from a shareholder, rather than purchasing stock directly from the company.
種子投資
為希望在６個月到１年的期間內公開上市的公司進行融資，以支付上市準備期間所發生的費用。通常融資是由機構組織進行的，以便將來可以從公開發行的承銷過程中獲得收益回報。
Bridge/Mezzanine
Financing for a company expecting to go public usually within six months to a year. Often bridge financing is structured so that it can be repaid from proceeds of a public underwriting.
首次上市
一家公司首次在股票市場的公開股票發行。
IPO/Initial Public
Offering A company’s first offering of stock to the public.
股權
股權是所有者對公司興趣所在，以投資者所擁有的股票數目來體現。
Equity
Equity is ownership interest in a corporation, represented by the shares of stock which are held by investors.
股權發放
公司通過發行普通股或優先股使投資者獲得股權來籌集資金。
Equity Offerings
Raising funds by offering ownership in a corporation through the issuing of shares of a corporation’s common or preferred stock.
股權相關貸款
股權相關貸款是指可轉換為股權的貸款，或可以以股權作抵押的貸款。
Equity Related Loan
Equity related loans are loans convertible into equity ownership or loans collateralized with equity positions.
投資銀行
投資銀行相當於股票承銷人或代理商，作為股票發行者和投資者之間的媒介。投資銀行家通過再次發行或協調處理前期發行的股票的分配，維持已經發行股票的市場，或為公司私募尋找買家。
Investment Banks
An investment banking firm acts as underwriter or agent, serving as intermediary between an issuer of securities and the investing public. Investment bankers handle the distribution of blocks of previously issued securities, either through secondary offerings or through negotiations, maintain markets for securities already distributed, and act as finders in private placements of securities.
私募
指向小規模數量的投資者（通常３５個以下）出售股票，此方式可以免除如在美國證券交易委員會（SEC）的註冊程序。投資者要簽署一份投資書聲明，購買目的是投資而不是為了再次出售。
Private Placement
The sale of securities to a small group of investors （generally 35 or fewer） which is exempt from SEC registration requirements. The investors execute an investment letter stating that the securities are being purchased for investment without a view towards distribution.
二次上市
指在首次發行之後的再次公開發行股票。二次上市可以由股票發行者進行，也可經自公開市場購買而持有此股票的集團發行。
Secondary Public Offering
This refers to a public offering subsequent to an initial public offering. A secondary public offering can be either an issuer offering or an offering by a group that has purchased the issuer’s securities in the public markets.
承銷
為公司發行股票作承銷人，這樣的集團公司可能來自一個財團，實行風險共擔，確保股票成功發行。股票承銷由兩種組織形式：最佳效果型和嚴格承諾型。第一種類型，承銷人有購買股票的選擇權、並有權決定是否出售股票，如果不成功，可以取消發行、並放棄一切費用。這種組織形式在投機性強的股票和新公司發行中應用較多。對後一種類型，承銷人要買入發行者要發行的全部股票。
Underwriting
An investment banking firm acting as underwriter sells securities from the issuing corporation to the public. A group of firms may from a syndicate to pool the risk and assure successful distribution of the issue. There are two types of underwriting arrangements: best efforts and firm commitment. With best efforts, the underwriters have the option to buy and authority to sell securities, or if unsuccessful, may cancel the issue and forgo any fees. This arrangement is more common with speculative securities and with new companies. With a firm commitment, the underwriters purchase outright the securities being offered by the issuer.
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