Venture Capital Law in China

by Lin Lin

Overview

China's venture capital market is not just the world's largest and fastest developing market, it also has the unique distinction of being engineered through heavy governmental intervention. This book breaks new ground by examining and testing established legal theories regarding the law of venture capital through the lens of the Chinese venture capital market. Using a hand-collected dataset of venture capital agreements, interviews with practitioners, and Chinese court judgements, it provides a comprehensive and insightful analysis of the Chinese venture capital market from the legal perspective. Topics covered include the roles of law and governmental intervention in developing the market, the state of investor protection, unique contractual developments and exits of venture capital investments. By providing an in-depth comparative analysis against the American venture capital market, it provides critical context and makes the Chinese venture market accessible. It is an invaluable resource for venture capital scholars, policymakers and practitioners.

Product Details

ISBN-13:	9781108437660
Publisher:	Cambridge University Press
Publication date:	09/29/2022
Series:	International Corporate Law and Financial Market Regulation
Pages:	356
Product dimensions:	5.98(w) x 8.98(h) x 0.75(d)

About the Author

Lin Lin is an Assistant Professor at the Faculty of Law, National University of Singapore. She specializes in corporate law, corporate finance, alternative investments and Chinese corporate law. She has held visiting appointments at Stanford, Oxford and Melbourne. She practised corporate and securities law prior to entering academia.

Table of Contents

Preface and Acknowledgement; List of Abbreviations; 1. An Introduction to the Venture Capital Market in China; 2. Venture Capital Fund-Raising; 3. Venture Capital Investing; 4. Venture Capital Exits; 5. Lessons from China and Ways Forward; Appendix. List of Chinese Legislations; Index.

Editorial Reviews

'Engineering a venture capital market requires solving a common set of problems, but each country comes to the task having to work with the bricolage left by its history. Thus, understanding the engineering problem is necessarily comparative. This book masterfully compares the structure of the VC market in the two largest such markets: the U.S. and China. There’s nothing like it.' Ronald J. Gilson, Stern Professor of Law and Business, Columbia Law School, Meyers Professor of Law and Business Emeritus, Stanford Law School

'This book is an outstanding contribution to the study of an ever more crucial component for the dynamism of any economy. By masterfully combining doctrinal, empirical and comparative methodologies, Lin breaks new ground by examining established theories regarding the role of government through the lenses of the Chinese venture capital market. It is an invaluable resource for venture capital scholars, policymakers and practitioners.' Luca Enriques, Professor of Corporate Law, Faculty of Law, University of Oxford

'How did China create the world’s second largest venture capital market, and how does venture capital work in China today? Professor Lin answers these questions and more in this highly insightful and informative book. From legal infrastructure to adaptive contracting arrangements to reform proposals, Professor Lin provides an integrated analysis that spans the Chinese venture capital ecosystem and relates elements of that ecosystem to practices and structures around the world.' Michael Klausner, Nancy and Charles Munger Professor of Business and Professor of Law Stanford Law School

‘China's venture capital industry has grown explosively over the last decade and today rivals that of the United States in its influence and performance. But the complex workings of this sector remain poorly understood, including by many seasoned venture capitalists. This book provides a clear, informative and insightful exploration of the evolving structure and organization of Chinese venture funds, a sector that will be critical to the future of innovation domestically and globally.' Josh Lerner, Professor of Investment Banking, Head of Entrepreneurial Management, Harvard Business School

From the Publisher