The term "venture capital institution" as mentioned in these Measures refers to the civil subject established in accordance with these Measures and engaged in venture capital activities.
The term "venture capital consulting institutions" as mentioned in these Measures refers to the civil subject entrusted by venture capital institutions to operate their investment business and provide intermediary services for the invested enterprises. Article 3 The provincial development and reform department shall, jointly with the provincial administrative department of science and technology, be responsible for guiding and supervising the venture capital activities in the province, formulating relevant policies to encourage and standardize venture capital, and organizing the implementation of these measures.
Finance, industry and commerce, taxation and other departments are responsible for promoting the development of venture capital within their respective responsibilities.
Governments at all levels are encouraged to set up venture capital guidance funds to support venture capital institutions through equity participation and interest subsidies. Article 4 All kinds of domestic and foreign investment institutions, financial institutions, enterprises, universities, research and development institutions, intermediary service institutions, media and other organizations and individuals are encouraged to actively promote and participate in the development of venture capital in this province. Article 5 The names of venture capital institutions and venture capital consulting institutions may use the words "venture capital" or "venture capital". The names of other institutions shall not use the words "venture capital" or "venture capital". Article 6 To establish a venture capital institution, the registered capital must be contributed in cash. The initial registered capital is not less than 8 million yuan or equivalent foreign currency, and the registered capital reaches 20 million yuan or equivalent foreign currency within two years after its establishment.
The registered capital of a venture capital consulting institution shall not be less than 6,543,800 yuan or equivalent foreign currency. Article 7 Where an enterprise applies to change its main business to become a venture capital institution, its registered capital shall not be less than 20 million yuan or equivalent foreign currency, and the sum of the existing monetary capital and the equity capital of high-tech venture enterprises held at the time of applying for change shall not be less than 70% of the total registered capital. Eighth venture capital institutions and venture capital consulting institutions shall, after registration, file with the development and reform department. Article 9 Venture capital institutions may engage in the following businesses:
(1) Invest in high-tech start-ups and projects;
(two) to provide business management services for the invested entrepreneurial enterprises;
(3) Venture capital consulting business;
(4) Other businesses permitted by laws and regulations. Tenth venture capital institutions shall not implement the following acts:
(1) Engaging in financial business activities such as deposit taking, loan granting, settlement, bill discount, capital borrowing, trust investment, financial leasing, foreign exchange or futures trading;
(2) purchasing stocks that have been listed and traded, except for the listed shares of the invested enterprise and the share conversion, share allotment and share delivery after listing;
(3) Other activities prohibited by laws and regulations. Eleventh venture capital institutions may entrust venture capital consulting institutions, commercial banks and other institutions as custodians of the equity of enterprises they hold. Twelfth venture capital institutions can realize their technical capital through stock listing, equity transfer, enterprise merger and acquisition, equity repurchase and other means. Thirteenth venture capital consulting institutions can be entrusted to manage the investment business of multiple venture capital institutions. Unless otherwise agreed, the venture capital consulting institution shall equally put forward investment suggestions or provide information to the entrusted venture capital institutions. Fourteenth venture capital consulting institutions should use their own funds, in accordance with the proportion of more than 0% of the actual investment of the entrusted venture capital institutions, unless otherwise agreed by the parties.
Synchronous investment should follow the principle of the same entry and exit, the same share and the same price. Fifteenth venture capital consulting institutions shall not use the entrusted venture capital for other purposes than those stipulated in the entrusted management agreement, and shall not provide guarantees for themselves or third parties with the entrusted venture capital. Sixteenth venture capital guidance and supervision departments should regularly formulate and publish the "Guide to Venture Capital High-tech Industry Projects" to guide the direction of venture capital. Seventeenth venture capital institutions to invest in high-tech industrial projects identified in the Guide to Venture Capital, the project funds exceed 70% of the paid-in capital, enjoy preferential policies for high-tech enterprises. Eighteenth provincial and municipal industrial technology research and development funds, applied technology research and development funds, industrial restructuring and high-tech industrialization special funds to support the development of high-tech industries, under the same conditions, priority should be given to supporting venture capital projects. Nineteenth venture capital institutions can invest all their assets. For enterprises invested by venture capital institutions, the proportion of high-tech achievements in the share capital of enterprises is not limited. Twentieth venture capital institutions can take the form of cash reward, gift or sale of equity and options to motivate the main management personnel. Twenty-first industrial and commercial administrative departments in the annual inspection found that venture capital institutions, venture capital consulting institutions do not meet the provisions of these measures, it should be dealt with according to law, and the annual inspection results and handling of the situation will be notified to the same level of venture capital guidance and supervision departments.
Venture capital institutions that fail to pass the annual inspection shall stop enjoying the preferential policies of venture capital institutions before meeting the annual inspection requirements, and shall not invest abroad or set up branches during the period. Venture capital consulting institutions that fail to pass the annual inspection shall stop accepting new entrusted investment business of venture capital institutions until they meet the annual inspection requirements.
Those who fail to pass the annual inspection for two consecutive years shall be ordered by the administrative department for industry and commerce to change their names, and the words "venture capital" or "venture capital" shall not be used again.