北京市风险投资的空间分布与合作网络研究

doi:10.18306/dlkxjz.2016.03.010

Abstract

Abstract:

Existing research on the agglomeration of venture capital (VC) has mainly focused on the national level. This study explores VC's distribution and network at the city level in China. Based on the data of VC in Beijing, we conducted a spatial and social network analysis on the geography of the sector. The results show that VC is mainly concentrated in the Central Business District (CBD), Financial Street, and Zhongguancun areas, which presents a decentralized-centralized-decentralized tendency over time. The CBD and Financial Street are home to many institutions, with the former being a major settlement for foreign institutions, especially private equity (PE) firms while the latter mostly for state-owned institutions. Relying on its high-tech industry and high quality research institutions, Zhongguancun developed into a dynamic area with a large number of VC focusing on start-ups. The network analysis shows that VC collaborate with each other beyond the distance limitation. The major VC clusters have intense connections in syndication investments. The core and periphery analysis indicates that foreign institutions hold a prominent position in the syndication investment networks of VC in Beijing. The state-owned institutions occupy some key nodes in the network with less influence. Although there is a growing number of local privately-owned institutions, most of them are at the periphery in the network.

Key words: venture capital, cluster, social network analysis, syndication, Beijing City

Yiqing XU, Fenghua PAN, Xiaoyu JIANG, Yalin QU, Jinshe LIANG. The geography and syndication investment networks of venture capital in Beijing[J].PROGRESS IN GEOGRAPHY, 2016, 35(3): 358-367.

Figures/Tables 10

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排名	机构	资本类型	绝对中心度	相对中心度
1	红杉	外资	101	12.332
2	IDG资本	外资	94	11.477
3	君联资本	本土	60	7.326
4	清科创投	外资	57	6.960
5	经纬中国	外资	48	5.861
6	北极光	本土	45	5.495
7	联创策源	外资	35	4.274
8	鼎晖创投	外资	35	4.274
9	启迪创投	本土	30	3.663
10	贝塔斯曼基金	外资	24	2.930

排名	核心机构	半边缘机构	边缘机构
1	红杉	真格基金
2	IDG资本	智基创投
3	清科创投	启迪创投
4	经纬中国	华创资本
5	君联资本	蓝驰创投
6	鼎晖创投	百度投资部	其余机构
7	联创策源	信中利
8	北极光	中信产业基金
9	贝塔斯曼基金	中金
10	金沙江创投	金石投资
11	宽带资本	…(共75家）

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The geography and syndication investment networks of venture capital in Beijing

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