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University of Michigan Law School

2012

Banking and Finance Law

Financing

Articles 1 - 2 of 2

Full-Text Articles in Law

Venture Capital Investments In China: The Use Of Offshore Financing Structures And Corporate Relocations, Jing Li Jan 2012

Venture Capital Investments In China: The Use Of Offshore Financing Structures And Corporate Relocations, Jing Li

Michigan Business & Entrepreneurial Law Review

Based on an analysis of the relevant Chinese laws and regulations governing the corporate governance structure of venture capital (“VC”)-invested firms, as well as a discussion on the feasibility of employing different alternatives to make direct and indirect VC investments in Chinese portfolio firms, this article studies a hand-collected sample consisting of the twenty-nine VCbacked Chinese portfolio firms that have been financed and listed from 1990 to 2005 in order to empirically show how these investments were actually made in practice. The findings show that twenty-three out of the twentynine firms received their VC investments in various offshore holding ...


Mezzanine Finance And Preferred Equity Investment In Commercial Real Estate: Security, Collateral & Control, Jon S. Robins, David E. Wallace, Mark Franke Jan 2012

Mezzanine Finance And Preferred Equity Investment In Commercial Real Estate: Security, Collateral & Control, Jon S. Robins, David E. Wallace, Mark Franke

Michigan Business & Entrepreneurial Law Review

This article will review both the genesis and the rise in popularity of preferred equity and mezzanine debt, examine their legal and structural differences, and provide some exposition as to how these financing techniques work from security, collateral and control standpoints. We do not undertake in this article to address the differences in tax and accounting treatment between mezzanine loans and preferred equity investments both for either the mezzanine lender or preferred equity investor on the one hand, or for the mezzanine borrower or the common equity investor, on the other hand. In deciding upon which structure to use, transaction ...