交易前估值（中英）

　　交易前估值

　　所谓交易前估值，是指公司在将外部融资额加入资产负债表前的价值。

　　Pre-Money Valuation

　　A pre-money valuation is a term used in private equity or venture capital that refers to the valuation of a company or asset prior to an investment or financing.

　　External investors, such as venture capitalists and angel investors will use a pre-money valuation to determine how much equity to demand in return for their cash injection to an entrepreneur and his or her startup company. This is calculated on a fully diluted basis.

　　Usually, a company receives many rounds of financing rather than a big lump sum in order to decrease the risk for investors. Pre- and post-money valuation concepts apply to each round.