Reborn multinational giant

Fang Zhe was not surprised by this. If good projects are really easy to come across, there will be more than a few dozen unicorn companies in China.

Among these dozens of companies, more than half of the projects have long been acquired by Zhongying Capital, and the remaining ones that have not been acquired by Zhongying Capital or Huizhong. It is not that Zhongying Capital and Huizhong have no such strength. , But not optimistic about their future development. For example, Vancl Eslite is now a thriving unicorn company, but it does not mean that it will still be thriving in a few years.

Seeing Fang Zhe didn't speak, Fu Xinming said to himself:

"In the recent period, there are so many outlets, O2O, VR and virtual reality, sharing economy, and new energy vehicles. Since Tesla entered the Chinese market, many domestic entrepreneurs have been building cars. Under the banner of the new forces, it doesn't matter whether these entrepreneurs are reliable or not, investors who are willing to pay for them anyway will grab a lot of investors."

Fang Zhe nodded. In his previous life, the domestic capital had been overheated in the past few years. After a while, the slogan "Mass Entrepreneurship, Mass Innovation" called by the government came out, and this enthusiasm would reach its peak.

In this life, there are successful cases of Huizhong and countless o2o entrepreneurs. Not to mention those coal bosses in Xishan Province who are not bad at money. Even many agricultural tycoons who don’t even know how to turn on their computers are also clamoring to invest in the Internet. Up.

"We have invested in all promising projects of O2O. The remaining three cats and two dogs can pay a little attention. VR and virtual reality are still in accordance with the logic I told you before. There is no need for the core technology. Voting, this tuyere has been on fire many times over the past few decades, and it never stopped every time. It should be the same this time.

Rather than wasting money on unreliable entrepreneurs, it is better to save some money and let our own research institute do it, sharing the economy. By the way, I asked you to pay attention to the team status and financial status of ofo in the past six months. What is the situation? ?"Fang Zhe asked.

"The situation of the team, if you don't tell me, I almost forgot. I have met Dai Wei, the founder of ofo, twice. The first impression this person gave me is that he is particularly proud. But think about it, he is the chairman of the Huaqing University Student Union. , My father is also an executive of a state-owned enterprise, so it’s normal to be proud, but I’m still a little worried

His arrogance will affect the development of ofo in the future. As for the other members of the founding team, I have seen it once, and they are not too prominent. I feel that ofo is now Dai Wei's words.

In terms of financial situation, now ofo is in the period of rapid development, and it is indeed a bit fast to spend money. I estimate that in the summer, the car will be laid faster, and it will be time to raise the A round of financing."Fu Xinming truthfully reported what he had learned.

Since the establishment of ofo, it has completed the angel round and the Pre-A round of financing. Zhongying Capital invested in ofo during the Pre-A round, with an investment of 5 million, accounting for 12.5% ​​of the shares. After this financing, ofo’s valuation It also rose to 40 million.

According to Fang Zhe’s estimation, by the summer of A round of financing, ofo’s valuation should be able to exceed 100 million, and that will be the last chance of ofo to get on the car without losing money, and then participate in financing in the future, can you cash out Field, you have to weigh it carefully.

"That's OK, you should pay close attention to the sharing economy projects. Now that the capital is overheated, the crowd-winning capital should not be too popular. In the future, this type of investment will also be invested in a shell. As for the new energy automobile field, you want to do a good job in the automobile industry. Burning a lot of money, this requires much higher team quality than shared projects." Fang Zhe instructed Fu Xinming.

The so-called backdoor investment refers to first investing money in a certain company, and then using this company to invest in the target company. Such an investment method is not uncommon in the venture capital industry.

In the past two years, because the investment record of Zhongying Capital is so impressive, many venture capital funds want to follow Zhongying, and even many start-up companies, because Zhongying Capital intends to invest in it.

As a last resort, except for the follow-up financing of early projects, Zhongying Capital rarely invests directly in new projects. Like this time, Zhongying Capital invests in ofo. In fact, it borrows the shell of a wealth management fund called Oriental Shenghong.

Not long after Fang Zhe sent Fu Xinming away, Huang Siyi, head of Huizhong's investment department, knocked on the door and came in.

Unlike Zhongying Capital’s private fund, which is almost regarded as Shangzhe, it basically only invests in early-stage projects. The investment department of Huizhong, which is in charge of Huang Siyi, represents the foreign investment of Huizhong’s entire company. Therefore, both in terms of scale and investment logic, follow There is no small difference in Zhongying Capital.

"President Fang, you can count as coming back. In the past two days, several business managers of our investment department have disagreeed on the investment direction. I think what they said is very reasonable, so some of them are undecided and urgently need your advice. People in our investment department attend classes and give pointers.

There is also accurate news from the board of directors of JD.com. JD.com plans to go public in late May at the latest. However, the market is not very optimistic about JD.com and the valuation is not ideal. Mr. Liu hopes that we can give him To help out, he also came to me yesterday morning. He wanted to find you even more, but then you have already gone to Hangzhou, and Mr. Zheng received him."

When Fang Zhe heard that Jingdong President Liu had come to him, he became interested for a while: "Oh, President Liu has looked for me. He has always been in the Three Treasures Hall without problems. It seems that he is really on the point."

Huang Siyi chuckled and teased: "No, Mr. Liu, who always has good things but doesn't care about others, and troubles about others, seems that they have to go public."

Since last year, there has been news on the market that Alibaba is going to be listed this year. JD.com and Alibaba are both e-commerce companies. If they are both listed on the U.S. stock market, whoever goes public in the U.S. will be able to seize the number one Chinese stock market. The name and advantages of commercial stocks have received a good valuation and market recognition.

Unfortunately, even if Mr. Liu is so careful, the market still doesn't approve of Jingdong's positioning, otherwise he would not ask Fang Zhe to come.

Fang Zhe shook his head and said with a smile: "You can't say that. Mr. Liu should have no trouble. How can I remember our good? Let Li Yifei talk to him later. I think it will be the best of both worlds!"

Huang Siyi's eyes lit up, and Mr. Fang deserves to be Mr. Fang. He asked Li Yifei to see Mr. Liu, just thinking that JD has been reluctant to expose the consumption data of Alipay users. Now that Mr. Liu is asking to come to the door, then this is the matter. Some totaled.

Huang Siyi couldn't help but stretched his thumb to Fang Zhe, expressing his admiration, and then he asked, "What about the investment direction?"

Fang Zhe glanced at him, raised his hand and pressed the landline button on the desk. After a while, after secretary Li Wen came in, he ordered: "You inform Jingdong Manager Liu and let him go directly to meet Li Yifei. Come to me, and you say hello to Li Yifei in advance.

Also, in the afternoon of the day after tomorrow, after squeezing out two hours, I will go to the investment department for a meeting."

Li Wen nodded and left the office. Fang Zhe looked at Huang Siyi and asked, "Let’s talk about it, what are your differences in the investment department?"

Huang Siyi rubbed his brows and said, "Don't mention it, there are too many outlets in the market, O2O, bike sharing, virtual reality, Bitcoin, etc. There are a lot of things. Now there are two groups in the investment part. One is more conservative and hopes to wait for the market. Cool down and see the situation clearly before entering the market. The other faction is more radical, thinking that if some projects do not enter the market now, they may miss the opportunity."

Fang Zhe smiled helplessly. No wonder the capital on the market was overheated. Even many people in the investment department of Huizhong were enthusiastic, not to mention the investors outside?