2. 考研
  3. Venture capital has now become a global phenomenon. Here is the (1)_____ status of each major region that has venture capital ac

Venture capital has now become a global phenomenon. Here is the (1)_____ status of each major region that has venture capital ac

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问题     Venture capital has now become a global phenomenon. Here is the (1)_____ status of each major region that has venture capital activity. (2)_____, the definition of venture capital, (3)_____ coined 50 years ago at Harvard Business School, meant (4)_____ capital for new or very young ventures. Over time, (5)_____, and especially outside the US and Canada, it has become a coverall name for any type of equity related financing for privately held companies. To make matters even more (6)_____, some US venture capital firms have begun delving into "transactional" finance more (7)_____ to the investment banking community. This is, however, a limited phenomenon.
    Indeed, the influx of (8)_____ fund money into the venture capital market has been both a curse and a blessing. Firms found themselves battling to place their newly (9)_____ funds with a (10)_____ number of specialized hi-tech firms. The result was a series of losses in the early 1990s.
    Venture capitalists then became immersed in transactional financing as a result of their (11)_____ in business acquisitions. Historically, the venture capitalists had sat at the end of the table representing the company being (12)_____. At some point, they began to see opportunities in financing such (13)_____ and in other investment banking type activities.
    In the long (14)_____, however, venture capitalists will back out of investment banking type activities and focus on what they are best at, risking capital investments in (15)_____  companies. What is required to place their capital and still realize their (16)_____ is a ramp up in staff. In the 1980s, many of the firms were quite small and (17)_____ on specific areas of technology where they had in (18)_____ knowledge. In the 1990s the successful firms have (19)_____ management staff, (20)_____ into more than one area of technology, and outsourced more of their technological analysis to very specialized experts.

选项 A、burnout
B、start up
C、handover
D、cut-back
答案B
解析 start-up"开始，起始"。该词在概念上与上文中的"new or very young"形成关联，故为正确选项。而选项burnout"燃尽，烧光"，handover"移交"和cut-back"减少，缩减"填入后均不符合文意。
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