The Venture Capital series will introduce to the domestic academic and business communities the important theories, practical experiences, policy regulations, updates, and development trends of the international venture capital industry, and thereby promote the regulation and healthy development of the domestic venture capital industry. CVCRI will organize experts from home and abroad to translate, edit, and publish the series and high quality collections of papers, which will have both theoretical and practical significance in promoting the operations of domestic venture capital, training high-caliber venture capital professionals, establishing and improving our venture capital operating mechanisms.

1. Publication background
　　Since its introduction to China in the 1980’s, the venture capital industry has been through different phases. It developed astonishingly rapidly from 1998 to 2000, and then slumped from 2001-2002. Today is another critical period. Venture capital has turned to the high-tech industry as the most promising area for financing. Venture capital is currently playing a very important role in China’s economic development. It is often called the “new engine for the continuous development of China’s economy.”

　　Although it has grown rapidly, China’s venture capital industry is still at an early stage of development. However, some problems remain unsolved. Due to the lack of an efficient mechanism for venture capital, venture capital in China operates in an unregulated environment, on a small scale, and with simple channels of financing. There is also lack of professionals, the industry has few exit mechanisms, and laws and regulations are not effective. At the same time, research on the subject has not been in-depth and comprehensive. These problems are impeding the further development of the industry. To lead the industry forward, we must learn from the experiences and lessons of other countries. Thus, high-quality well-organized book series are required if the industry is to operate effectively.

　　There are other books on venture capital in the market. Despite the great interest in introducing knowledge on venture capital, these books tend to have the following problems: 1.) Introduction is shallow and with no in-depth discussions on theories of venture capital. 2.) No detailed explanations on the mechanism of operation and on government policies, laws, and regulations. In addition, there are few incisive analysis and comments on successful or unsuccessful cases of venture investments. 3.) Repetitive in content, lacking in innovation and generally characterized by stereotyped descriptions. 4.) Quotations are mostly taken from newspapers, magazines, or the Internet, and lack of organization and depth. 5.) Most only discuss the U.S. venture capital market, ignoring other countries with a well-developed venture capital industry. Being aware of these problems, we have decided launch a series of high-quality translated books on venture capital.

　　Our purpose in publishing the series is to provide a comprehensive and well-designed resource book and textbook for venture capital professionals, especially senior executives, to learn advanced international venture capital investment concepts and mechanisms of operation.

2. Publication Purpose
　　The purpose of translating and publishing this series goes beyond a desire to provide more information to help venture capital firms and enterprises learn more about the operating experiences, advanced investment concepts and risk-control methods of other countries, It is also to help domestic readers improve their understanding of the venture capital industry. Doing so is meaningful in that it will help to establish and improve venture capital mechanisms and promote the regulated and healthy development of China’s venture capital industry.

3. Brief introduction
　　The series introduces, in an organized fashion, all aspects of venture capital investment, including important foreign theories on venture capital, practical mechanisms of operation, studies on successful and failed venture capital cases, policies and practices on developing the venture capital industry in major countries, and special reports and influential papers by distinguished venture capitalists.

4. Range of readers
　　Readers of the book series may include venture capitalists, investment bankers, high-tech entrepreneurs, senior executives; policy makers; professionals in banks, insurance companies, and investment companies; researchers in universities and institutions; and anyone interested in venture capital investment. This series can be used either as reference books or as training manuals for venture capital professionals.