风险资本和三权分立

VentureCapitalintheUnitedStates美国的风险资本TheappealtoventurecapitalistsofinvestinginUnitedStateshightechnologycompaniesisquiteobvious;thetechnologyindustryisoneofthelargestandmostrapidlygrowingindustriesintheUnitedStatestoday.AccordingtotheU.S.DepartmentofCommerce,since1994technology-relatedrevenueshavegrownatanestimatedrateof15%peryear,approximatelyfivetimesthegrowthrateoftheU.S.economy.Today,technologyisestimatedtoaccountforapproximately50%ofallprivatesectorcapitalspendingintheUnitedStates.Bytheyear2000,technologyindustryrevenuesareexpectedtoconstitutemorethan10%ofthetotalUnitedStatesGrossDomesticProduct.a.在美国，高科技企业对于风险资本家来说具有明显的吸引力。如今，科技产业是美国规模最大的，发展最快的产业之一。b.技术产业是当今美国规模最大，发展最快的产业之一。毫无疑问，对于风险资本家来说，投资这些高技术公司是极具吸引力的。考虑到后文的衔接。私营部门资本总支出1)Overthepasttwodecades,venturecapitalhasfosteredthegrowthofmanyoftheworld'sleadinghightechnologyandotheremerginggrowthcompaniesintheUnitedStates./CorporationssuchasMicrosoft,CompaqandIntelarebutafewexamplesofAmericancompanieswhoseearlygrowthwasfacilitatedbyventurecapitalinvestments./2)Theavailabilityofventurecapitalfinancingtoyoung,hightechnologycompanieshasbeenaprimarycontributortothedramaticrevenuegrowthenjoyedby,andtheincreasedcompetitivenessof,America'shightechnologyindustryandtotheeconomicexpansionandincreasedemploymentlevelsexperiencedinCalifornia'sSiliconValleyandotherareasofhightechnologycompanyconcentration./3)Itisestimatedthatover3,000companies(includingnon-technologycompanies)whichhavecompletedinitialpublicofferingsofstockintheUnitedStatesoverthepasttwodecadeshavereceivedventurecapitalatsomepointintheirdevelopment.1)Overthepasttwodecades,venturecapitalhasfosteredthegrowthofmanyoftheworld'sleadinghightechnologyandotheremerginggrowthcompaniesintheUnitedStates./CorporationssuchasMicrosoft,CompaqandIntelarebutafewexamplesofAmericancompanieswhoseearlygrowthwasfacilitatedbyventurecapitalinvestments.（定语从句）a.在过去20年中，风险资本促进了美国许多处于世界领先地位的高技术公司和其他新兴公司的发展。像微软、康柏和英特尔这样的公司，仅仅是那些早期发展得益于风险资本投资的美国公司的几个例子而已。（前置定语）b.在过去20年中，风险资本促进了美国许多处于世界领先地位的高技术公司和其他新兴公司的发展。很多公司的早期发展都得益于风险资本投资，微软，康柏和因特尔仅是这许多公司中的几个例子。(单独成句)2)Theavailabilityofventurecapitalfinancingtoyoung,hightechnologycompanieshasbeenaprimarycontributortothedramaticrevenuegrowthenjoyedby,andtheincreasedcompetitivenessof,America‘shightechnologyindustry（措辞）andtotheeconomicexpansionandincreasedemploymentlevelsexperiencedinCalifornia'sSiliconValleyandotherareasofhightechnologycompanyconcentration.a.新开业的高技术公司获得风险资本融资，这对美国高技术产业收入的大幅度增长和竞争力的提高，以及对加州硅谷和其他高技术公司集中地所取得的经济发展和就业水平的增长，都起了重要作用。（对…，对…都起到了重要作用。措辞能力更有挑战）b.风险资本融资用于新兴的高科技产业，不仅促进了美国高技术产业总收入大幅度增长，竞争力日渐提高，同时也带动了加州硅谷和其它高技术公司密集地区的经济发展和就业水平的增长。（不仅促进了…同时也带动了…）理解措辞+组句Asventurecapitalhasgrowninpopularity,venturecapitalinvestinghasemergedasamajorfinancialinvestmentvehicle./Traditionally,mostventurecapitalfirmsconsistedofsmallprivatelimitedpartnershipsutilizingcapitalfurnishedbywealthyindividualsorcorporations./Today,venturecapitalinvestingrepresentsasignificantfocusofmostinstitutionalorcorporateinvestmentportfolios,andmanyofthelargestventurefundsareoperatedbymajorfinancialinstitutions,orbysubsidiariesspecificallydesignedforprivateequityinvestment./Itisestimatedthatamajorityoffundingcurrentlycommittedtoventurecapitalentitieshasbeenprovidedbypublicorprivatepensionfunds,whichareallocatingincreasingpercentagesofinvestmentfundstoalternativeinvestment”suchasventurecapital.Theremainderofinvestmentfundingisprovidedbyinsurancecompanies,banks,corporations,wealthyindividuals,foreigninvestors,universityorinstitutionalendowmentsandprivatefoundations.(语篇，长句，专业性)Asventurecapitalhasgrowninpopularity,venturecapitalinvestinghasemergedasamajorfinancialinvestmentvehicle.由于风险资本越来越受欢迎，风险资本投资已成为金融投资的重要手段。Traditionally,mostventurecapitalfirmsconsistedofsmallprivatelimitedpartnershipsutilizingcapitalfurnishedbywealthyindividualsorcorporations.以往，大多数风险资本公司是小型私人有限合伙制公司，利用富人或公司提供的资本。Today,venturecapitalinvestingrepresentsasignificantfocusofmostinstitutionalorcorporateinvestmentportfolios,andmanyofthelargestventurefundsareoperatedbymajorfinancialinstitutions,orbysubsidiariesspecificallydesignedforprivateequityinvestment.今天，风险资本投资则是大多数机构投资证券组合或公司投资证券组合的一个重要的投资焦点，而且许多最大的风险基金是由主要的金融机构或专门从事私募投资的子公司运作的。Itisestimatedthatamajorityoffundingcurrentlycommittedtoventurecapitalentitieshasbeenprovidedbypublicorprivatepensionfunds,whichareallocatingincreasingpercentagesofinvestmentfundstoalternativeinvestment”suchasventurecapital.Theremainderofinvestmentfundingisprovidedbyinsurancecompanies,banks,corporations,wealthyindividuals,foreigninvestors,universityorinstitutionalendowmentsandprivatefoundations.alternativeinvestment非传统投资eg.alternativebirthing/energyfundingtoprovidemoneyforanactivity,organization,eventetc资金，提供资金fund1）anamountofmoneythatiscollectedandkeptforaparticularpurpose基金2）anorganizationthatisresponsibleforcollectingandspendinganamountofmoney基金会foundationanorganizationthatgivesmoneytocharity,research,etc.基金会据估计，目前流入风险资本实体的大部分资金来自公共或私有养老基金。养老基金将越来越多的份额投向非传统领域，如风险投资。投资资金的剩余部分由保险公司，银行，企业，富有个体，外商，大学或机构