activewww.20ren.com
www.20ren.com 时间:2021-03-17 阅读:()
PwCPrivateEquity/VentureCapital2015Reviewand2016Outlook3March2016www.
pwccn.
comPwCTableofcontentsFundraising3Investments8Exits152016outlook22PwCFundraisingPwC30.
020.
413.
021.
219.
817.
221.
119.
429.
229.
2$277$123$130$118$137010203040506005010015020025030020112012201320142015RenminbiFundSizeNon-renminbiFundSizeFundVolumeNo.
US$billionPEandVCfundraisingremainedathealthylevels;thecapitalavailableforfinancialinvestingisconsiderablygreaterthanimpliedbythesenumbersbecauseofthedirectinvestmentactivitiesofinsurers(andotherfinancialinstitutions);governmentandindustryfunds;SOEfunds;private-companyfunds;andHNWIvehicles.
4Source:ThomsonReuters,ChinaVentureandPwCanalysisPE/VCfundraisingforChinainvestment**ExcludesPEsinvestinginChinafromnon-regionspecificfundsPwCIn2015,renminbifundsizefellby7%fromthepreviousyeartoUS$19.
8billion.
Overall,theproportionofnon-renminbifundsizetorenminbifundsizeappearstohavereachedabroadlysteadystate.
64%49%40%42%40%36%51%60%58%60%0%20%40%60%80%100%20112012201320142015RenminbiFundSizeNon-RenmibiFundSize5Funds:ThegrowthofRenminbifunds(2011–2015)Source:ThomsonReuters,ChinaVentureandPwCanalysisPwC2005-2015,FundraisingfortheChinamarketdominatesAsianPEwithmorethanUS$430billionraised(notincludingallocationsfromnon-Chinaspecificfunds).
$430$76$69$59$41$39$28050100150200250300350400450500China/HKJapanIndiaSKoreaSingaporeAustraliaOthersUS$billion6Source:AVCJFunds:Totalfundsraisedbyfundcountry,withgeographicpreferenceinAsia(2005–2015)PwCChinafocusedfundswerealmost10%ofglobalPEfundraisingin2015-aslightpercentagepointsdropcomparedtolastyear.
$341$390$532$486$496$47$42$32$50$49010020030040050060020112012201320142015US$billionWorldChina7Funds:PE/VCfundsraisedinChinavsROW(2011–2015)Source:ThomsonReuters,ChinaVenture,PreqinandPwCanalysisPwCInvestmentPwCWithsomanyfinancialinvestorsactive,thenumberandvalueof"PE"deals(whichincludesothercategoriesoffinancialinvestors)increased79%(byvolume)and169%(byvalue).
5293583925931,062$45.
4$45.
4$35.
4$71.
5$192.
105010015020025002004006008001,0001,20020112012201320142015AnnouncedDealVolumeAnnouncedDealValueNo.
US$billion9Privateequitydeals(2011–2015)Source:ThomsonReuters,ChinaVentureandPwCanalysisPwCTheVCindustry(andtechinvestinggenerally)wasespeciallyhotwithinvestorschasingtechopportunitiesinChinainsearchofperceivedhighgrowthopportunitiesasthegeneraleconomyslowed;earlythroughlatestagefundingroundswereclosed,withsomelargerdeals(recordedinour"PE"numbers)comingfromconsolidationinthetechsector.
9034867381,3342,7352011201220132014201505001,0001,5002,0002,5003,000AnnouncedDealVolumeNo.
10Venturecapitaldealsbyvolume(2011–2015)Source:ThomsonReuters,ChinaVentureandPwCanalysisPwCChinarepresenteda170%sharpincreaseofPE/VCdealvaluescomparedto2014andgrabbed48%worldmarketshare,whilegloballytherewasonlyanearly18%increase.
2722753083484094134367319705010015020025030035040045020112012201320142015US$billionWorldChina11Source:AVCJ,PreqinandPwCanalysisDeals:PE/VCdealvaluesChinavsROW(2011–2015)PwCHightechnologyandconsumer-relatedarestillthetoptwohottestPEdealindustrysectors,especiallyPEdealvolumeinhightechnologyincreasedby40%in2015…5536492244239946858515312674731021322422193572243123613046333559734962234212107152902004006008001000120020112012201320142015OthersRetailEnergyandPowerMediaandEntertainmentMaterialsHealthcareRealEstateFinancialServicesConsumerrelatedIndustrialsHighTechnologyNo.
12Source:ThomsonReuters,ChinaVentureandPwCanalysisPEdealvolumebyindustrysectorPwC…anddealvaluesinhightechnologysectorreachedUS$76.
8bnlastyear,anotablehighincreaseinvalueofalmostsixtimeswasrecorded.
Therewere27PE/financial-buyerdealsvaluedatmorethanUS$1bnin2015,anotherrecord.
1.
53.
36.
213.
376.
817.
33.
924.
51.
52.
019.
89.
217.
84.
317.
09.
39.
110.
98.
45.
31.
415.
402040608010012014016018020020112012201320142015OthersRetailTelecommunicationsEnergyandPowerMediaandEntertainmentHealthcareIndustrialsRealEstateConsumerrelatedMaterialsFinancialServicesHighTechnologyUS$billion13Source:ThomsonReuters,ChinaVentureandPwCanalysisPEdealvaluebyindustrysectorPwCTheoutboundtrendforPEsandfinancialbuyersisnowwellestablished,almostdoublinginnumberin2015fromtheprevioushigh;theseinvestorsaremainlyseekingoverseasassetswith"aChinaangle".
14ChinamainlandPE/Financialbuyerbackedoutbounddealvalueandvolume2726254995$13$12$1$14$16024681012141618010203040506070809010020112012201320142015AnnouncedDealVolumeAnnouncedDealValueNo.
US$billionSource:ThomsonReuters,ChinaVenture,AVCJandPwCanalysisPwCExitsPwC2015firsthalfyearwasthemoststrongestperiodofPE-backedIPOoverthelastthreeyears-therewas89IPOsanddomestic(A-Share)IPOscontinuetobethepreferredexitroute…theIPOactivitysloweddowninthesecondhalfyear.
In2015,PE/VCbackedinvestmentinThreeNewBoardlistedcompaniesreached793.
629595589308566667857355731360204060801001201401602013H12013H22014H12014H22015H12015H2IPOM&A-tradeM&A-PE16No.
Source:Zero2IPO,AVCJandPwCanalysisPE/VCbackeddealexitvolumebytype(2013–2015halfyearly)PwCTradesaleexitsbyM&Ahasreachedalowestlevelsince2011,butIPOactivityremainspositiveaslastyear.
17Source:AVCJandPwCanalysis17198351141191091221511449278124905010015020025030035020112012201320142015IPOM&A-tradeM&A-PEPE/VCbackeddealexitvolumebytypeNo.
PwCAnincreasedtrustintheIPOinChinamarketwasseenandShenzhenStockExchangelaunchesitslargestdomesticIPOinJuneof2015.
1818Source:AVCJ128918217236146432128010203040506020112012201320142015US$billionOthersNYSE/NASDAQShenzhenShanghaiAHongKongExits:ChinaPE/VCbackedIPOexits—amountsraisedbybourse(2011–2015)PwCOverseaslistingsarenolongerpopularforPE/VCbackedissuerswhileAsharemarketattractsmorecompaniestogopublic.
Especially,anewboardofstrategicemergingindustryisgoingtobelaunched,whichisintendedtobringbackoverseas-listedChinesehigh-growthandinnovativecompanies.
19Source:AVCJ27112938311811173710670454811261311041202040608010012014016018020020112012201320142015No.
OthersNYSE/NASDAQShenzhenShanghaiAHongKongExits:ChinaPE/VCbackedIPOexits—numberofexitsbybourse(2011–2015)PwCThenumbersofPEorVCbackedIPOsinChinaexceededintheUSin2015–thefirstyearovertakingafter2012.
20Source:AVCJ,ThomsonReutersandNVCA50488011777172983511411902040608010012014016018020020112012201320142015No.
USChinaExits:PEbackedIPOexitsChinavsUS—numberofexits(2011–2015)PwCThecumulativeoverhangofinvestmentstoexitsremainsaproblemfortheindustry.
Whilethenumberofexitsremainedthesamelevelaslastyear,PE/VCdealvolumedoubledatthesametime.
219034867381,3342,7355293583925931,062116130163148101171983511411905001,0001,5002,0002,5003,0003,5004,00020112012201320142015VCdealsPEdealsM&AexitIPOexitSource:ThomsonReuters,ChinaVenture,AVCJandPwCanalysisNo.
PE/VCdealvolumevsnumberofexitsPwC2016outlookPwC2016outlookTraditionalPEfacesincreasingcompetitionfromotherclassesofdirectfinancialinvestorsincludinginsurers(andotherfinancialinstitutions);governmentandindustryfunds;SOEfunds;private-companyfunds;andHNWIvehicles.
Insomeindustrysectors,therearealsodiversemodesofbusinesscooperation,andnewareasofinvestmentactivelyexploredatthesametime.
Despiteongoingdisruptioninthedomesticequitycapitalmarkets,A-sharerelatedexitsareoftenpreferredduetobettermultiples,andthistendstofavourdomesticPEsovertheirforeigncounterparts.
WeexpectoutboundPEandfinancialbuyerinvestmenttocontinuetogrow.
Wedoexpectexitstoincreaseespeciallyifmarketsstabilise,andalsowithmoresecondary(PEtoPE)activity.
23PwC2016outlook24Overall,full-year2016willlikelybearecordyearforfinancialM&A,albeitnotnecessarilyfortraditionalPEtakenalone.
AccordingtoShanghaiStockExchange,StrategicEmergingBoardwillbelaunchedinthefirsthalfof2016.
Itwillbeconducivetotheconstructionofdomesticmulti-levelcapitalmarket,andprovidethegrowthopportunitiesforinnovativecompanies.
Thetraditionalexitroutecannotsatisfythecumulativeoverhangofinvestments.
Theindustryexpertsareseekingtootherexitplan,suchasNewThreeBoard,etc.
Thankyou2016PricewaterhouseCoopersZhongTianLLP.
Allrightsreserved.
PwCreferstotheChinamemberfirm,andmaysometimesrefertothePwCnetwork.
Eachmemberfirmisaseparatelegalentity.
Pleaseseewww.
pwc.
com/structureforfurtherdetails.
pwccn.
comPwCTableofcontentsFundraising3Investments8Exits152016outlook22PwCFundraisingPwC30.
020.
413.
021.
219.
817.
221.
119.
429.
229.
2$277$123$130$118$137010203040506005010015020025030020112012201320142015RenminbiFundSizeNon-renminbiFundSizeFundVolumeNo.
US$billionPEandVCfundraisingremainedathealthylevels;thecapitalavailableforfinancialinvestingisconsiderablygreaterthanimpliedbythesenumbersbecauseofthedirectinvestmentactivitiesofinsurers(andotherfinancialinstitutions);governmentandindustryfunds;SOEfunds;private-companyfunds;andHNWIvehicles.
4Source:ThomsonReuters,ChinaVentureandPwCanalysisPE/VCfundraisingforChinainvestment**ExcludesPEsinvestinginChinafromnon-regionspecificfundsPwCIn2015,renminbifundsizefellby7%fromthepreviousyeartoUS$19.
8billion.
Overall,theproportionofnon-renminbifundsizetorenminbifundsizeappearstohavereachedabroadlysteadystate.
64%49%40%42%40%36%51%60%58%60%0%20%40%60%80%100%20112012201320142015RenminbiFundSizeNon-RenmibiFundSize5Funds:ThegrowthofRenminbifunds(2011–2015)Source:ThomsonReuters,ChinaVentureandPwCanalysisPwC2005-2015,FundraisingfortheChinamarketdominatesAsianPEwithmorethanUS$430billionraised(notincludingallocationsfromnon-Chinaspecificfunds).
$430$76$69$59$41$39$28050100150200250300350400450500China/HKJapanIndiaSKoreaSingaporeAustraliaOthersUS$billion6Source:AVCJFunds:Totalfundsraisedbyfundcountry,withgeographicpreferenceinAsia(2005–2015)PwCChinafocusedfundswerealmost10%ofglobalPEfundraisingin2015-aslightpercentagepointsdropcomparedtolastyear.
$341$390$532$486$496$47$42$32$50$49010020030040050060020112012201320142015US$billionWorldChina7Funds:PE/VCfundsraisedinChinavsROW(2011–2015)Source:ThomsonReuters,ChinaVenture,PreqinandPwCanalysisPwCInvestmentPwCWithsomanyfinancialinvestorsactive,thenumberandvalueof"PE"deals(whichincludesothercategoriesoffinancialinvestors)increased79%(byvolume)and169%(byvalue).
5293583925931,062$45.
4$45.
4$35.
4$71.
5$192.
105010015020025002004006008001,0001,20020112012201320142015AnnouncedDealVolumeAnnouncedDealValueNo.
US$billion9Privateequitydeals(2011–2015)Source:ThomsonReuters,ChinaVentureandPwCanalysisPwCTheVCindustry(andtechinvestinggenerally)wasespeciallyhotwithinvestorschasingtechopportunitiesinChinainsearchofperceivedhighgrowthopportunitiesasthegeneraleconomyslowed;earlythroughlatestagefundingroundswereclosed,withsomelargerdeals(recordedinour"PE"numbers)comingfromconsolidationinthetechsector.
9034867381,3342,7352011201220132014201505001,0001,5002,0002,5003,000AnnouncedDealVolumeNo.
10Venturecapitaldealsbyvolume(2011–2015)Source:ThomsonReuters,ChinaVentureandPwCanalysisPwCChinarepresenteda170%sharpincreaseofPE/VCdealvaluescomparedto2014andgrabbed48%worldmarketshare,whilegloballytherewasonlyanearly18%increase.
2722753083484094134367319705010015020025030035040045020112012201320142015US$billionWorldChina11Source:AVCJ,PreqinandPwCanalysisDeals:PE/VCdealvaluesChinavsROW(2011–2015)PwCHightechnologyandconsumer-relatedarestillthetoptwohottestPEdealindustrysectors,especiallyPEdealvolumeinhightechnologyincreasedby40%in2015…5536492244239946858515312674731021322422193572243123613046333559734962234212107152902004006008001000120020112012201320142015OthersRetailEnergyandPowerMediaandEntertainmentMaterialsHealthcareRealEstateFinancialServicesConsumerrelatedIndustrialsHighTechnologyNo.
12Source:ThomsonReuters,ChinaVentureandPwCanalysisPEdealvolumebyindustrysectorPwC…anddealvaluesinhightechnologysectorreachedUS$76.
8bnlastyear,anotablehighincreaseinvalueofalmostsixtimeswasrecorded.
Therewere27PE/financial-buyerdealsvaluedatmorethanUS$1bnin2015,anotherrecord.
1.
53.
36.
213.
376.
817.
33.
924.
51.
52.
019.
89.
217.
84.
317.
09.
39.
110.
98.
45.
31.
415.
402040608010012014016018020020112012201320142015OthersRetailTelecommunicationsEnergyandPowerMediaandEntertainmentHealthcareIndustrialsRealEstateConsumerrelatedMaterialsFinancialServicesHighTechnologyUS$billion13Source:ThomsonReuters,ChinaVentureandPwCanalysisPEdealvaluebyindustrysectorPwCTheoutboundtrendforPEsandfinancialbuyersisnowwellestablished,almostdoublinginnumberin2015fromtheprevioushigh;theseinvestorsaremainlyseekingoverseasassetswith"aChinaangle".
14ChinamainlandPE/Financialbuyerbackedoutbounddealvalueandvolume2726254995$13$12$1$14$16024681012141618010203040506070809010020112012201320142015AnnouncedDealVolumeAnnouncedDealValueNo.
US$billionSource:ThomsonReuters,ChinaVenture,AVCJandPwCanalysisPwCExitsPwC2015firsthalfyearwasthemoststrongestperiodofPE-backedIPOoverthelastthreeyears-therewas89IPOsanddomestic(A-Share)IPOscontinuetobethepreferredexitroute…theIPOactivitysloweddowninthesecondhalfyear.
In2015,PE/VCbackedinvestmentinThreeNewBoardlistedcompaniesreached793.
629595589308566667857355731360204060801001201401602013H12013H22014H12014H22015H12015H2IPOM&A-tradeM&A-PE16No.
Source:Zero2IPO,AVCJandPwCanalysisPE/VCbackeddealexitvolumebytype(2013–2015halfyearly)PwCTradesaleexitsbyM&Ahasreachedalowestlevelsince2011,butIPOactivityremainspositiveaslastyear.
17Source:AVCJandPwCanalysis17198351141191091221511449278124905010015020025030035020112012201320142015IPOM&A-tradeM&A-PEPE/VCbackeddealexitvolumebytypeNo.
PwCAnincreasedtrustintheIPOinChinamarketwasseenandShenzhenStockExchangelaunchesitslargestdomesticIPOinJuneof2015.
1818Source:AVCJ128918217236146432128010203040506020112012201320142015US$billionOthersNYSE/NASDAQShenzhenShanghaiAHongKongExits:ChinaPE/VCbackedIPOexits—amountsraisedbybourse(2011–2015)PwCOverseaslistingsarenolongerpopularforPE/VCbackedissuerswhileAsharemarketattractsmorecompaniestogopublic.
Especially,anewboardofstrategicemergingindustryisgoingtobelaunched,whichisintendedtobringbackoverseas-listedChinesehigh-growthandinnovativecompanies.
19Source:AVCJ27112938311811173710670454811261311041202040608010012014016018020020112012201320142015No.
OthersNYSE/NASDAQShenzhenShanghaiAHongKongExits:ChinaPE/VCbackedIPOexits—numberofexitsbybourse(2011–2015)PwCThenumbersofPEorVCbackedIPOsinChinaexceededintheUSin2015–thefirstyearovertakingafter2012.
20Source:AVCJ,ThomsonReutersandNVCA50488011777172983511411902040608010012014016018020020112012201320142015No.
USChinaExits:PEbackedIPOexitsChinavsUS—numberofexits(2011–2015)PwCThecumulativeoverhangofinvestmentstoexitsremainsaproblemfortheindustry.
Whilethenumberofexitsremainedthesamelevelaslastyear,PE/VCdealvolumedoubledatthesametime.
219034867381,3342,7355293583925931,062116130163148101171983511411905001,0001,5002,0002,5003,0003,5004,00020112012201320142015VCdealsPEdealsM&AexitIPOexitSource:ThomsonReuters,ChinaVenture,AVCJandPwCanalysisNo.
PE/VCdealvolumevsnumberofexitsPwC2016outlookPwC2016outlookTraditionalPEfacesincreasingcompetitionfromotherclassesofdirectfinancialinvestorsincludinginsurers(andotherfinancialinstitutions);governmentandindustryfunds;SOEfunds;private-companyfunds;andHNWIvehicles.
Insomeindustrysectors,therearealsodiversemodesofbusinesscooperation,andnewareasofinvestmentactivelyexploredatthesametime.
Despiteongoingdisruptioninthedomesticequitycapitalmarkets,A-sharerelatedexitsareoftenpreferredduetobettermultiples,andthistendstofavourdomesticPEsovertheirforeigncounterparts.
WeexpectoutboundPEandfinancialbuyerinvestmenttocontinuetogrow.
Wedoexpectexitstoincreaseespeciallyifmarketsstabilise,andalsowithmoresecondary(PEtoPE)activity.
23PwC2016outlook24Overall,full-year2016willlikelybearecordyearforfinancialM&A,albeitnotnecessarilyfortraditionalPEtakenalone.
AccordingtoShanghaiStockExchange,StrategicEmergingBoardwillbelaunchedinthefirsthalfof2016.
Itwillbeconducivetotheconstructionofdomesticmulti-levelcapitalmarket,andprovidethegrowthopportunitiesforinnovativecompanies.
Thetraditionalexitroutecannotsatisfythecumulativeoverhangofinvestments.
Theindustryexpertsareseekingtootherexitplan,suchasNewThreeBoard,etc.
Thankyou2016PricewaterhouseCoopersZhongTianLLP.
Allrightsreserved.
PwCreferstotheChinamemberfirm,andmaysometimesrefertothePwCnetwork.
Eachmemberfirmisaseparatelegalentity.
Pleaseseewww.
pwc.
com/structureforfurtherdetails.
- activewww.20ren.com相关文档
- photoelectronwww.20ren.com
- Taiwww.20ren.com
- Boyswww.20ren.com
- www.pwc.com/lu/asset-management
- lymphocyteswww.20ren.com
- mAwww.20ren.com
TMTHosting：夏季优惠,美国西雅图VPS月付7折,年付65折,美国服务器95折AS4837线路
tmthosting怎么样?tmthosting家本站也分享过多次，之前也是不温不火的商家，加上商家的价格略贵，之到斯巴达商家出现，这个商家才被中国用户熟知，原因就是斯巴达家的机器是三网回程AS4837线路，而且也没有多余的加价，斯巴达家断货后，有朋友发现TMTHosting竟然也在同一机房，所以大家就都入手了TMTHosting家的机器。目前，TMTHosting商家放出了夏季优惠，针对VPS推...
Hostio€5/月KVM-2GB/25GB/5TB/荷兰机房
Hostio是一家成立于2006年的国外主机商，提供基于KVM架构的VPS主机，AMD EPYC CPU，NVMe硬盘，1-10Gbps带宽，最低月付5欧元起。商家采用自己的网络AS208258，宿主机采用2 x AMD Epyc 7452 32C/64T 2.3Ghz CPU，16*32GB内存，4个Samsung PM983 NVMe SSD，提供IPv4+IPv6。下面列出几款主机配置信息。...
弘速云（28元/月）香港葵湾2核2G10M云服务器
弘速云怎么样?弘速云是创建于2021年的品牌，运营该品牌的公司HOSU LIMITED(中文名称弘速科技有限公司)公司成立于2021年国内公司注册于2019年。HOSU LIMITED主要从事出售香港vps、美国VPS、香港独立服务器、香港站群服务器等，目前在售VPS线路有CN2+BGP、CN2 GIA，该公司旗下产品均采用KVM虚拟化架构。可联系商家代安装iso系统，目前推出全场vps新开7折，...
www.20ren.com为你推荐
-
原代码求数字代码大全？www.jjwxc.net有那个网站可以看书？冯媛甑尸城女主角叫什么名字同ip域名两个网站同一个IP怎么绑定两个域名www.44ri.comwww.yydcsjw.compartnersonline国外外贸平台有哪些？dadi.tvApple TV是干嘛的？怎么用？多少钱？javlibrary.comsony home network library官方下载地址175qq.comhttp://www.qq10008.com/这个网页是真的吗?dpscycle魔兽世界国服，求几个暗影MS的输出宏