My Age of Investment

  Chapter 347 Small adjustments

  The acquisition of 10% of Xia Jingxing's equity by Yang Niu was officially completed, and Goldman Sachs, a Wall Street brother, fully operated the list.

  According to a valuation of 10.25 billion U.S. dollars, the transfer of 10% of the equity, the transaction amount is 1.025 billion U.S. dollars.

  It is impossible to get all the money.

  According to the US tax law, Xia Jinghang is required to pay a long-term capital gains tax of 15%.

  Tax planner suggested Xia Jingxing to set up a private charity foundation, and then donate all the money to the charity foundation, which made the IRS guys stare.

  But all of Xia Jingxing’s money needs to be taken away, so it is naturally impossible to throw all of it into the charitable trust.

  The naked donation of rich Americans is also famous all over the world, mainly to avoid high inheritance taxes.

  The government will not interfere with the operation of charitable foundations. It only needs to use 5% of the foundation’s assets for charity every year. This 5% also includes the salaries and various expenses of foundation employees.

  Family members of the rich can all work in the foundation and receive some salary every month.

  The status of clocking in at work can be the savannah of Africa, take care of the animals;

   can also be a slum in a backward country, by the way, get to know the local customs;

  It can also be an environmental protection forum, showing a face in front of the media and the world, and won applause.

  In addition, in the name of charity, you can donate a quota for the Ivy League school to your child.

  The most important thing is to gain a good reputation, make friends with celebrities in the name of charity, and enhance fame.

  But Xia Jingxing does not have American citizenship, and the estate tax cannot be levied on him.

  And if he is a Chinese who is exposed to the news that he has donated 1 billion US dollars naked in the United States, I am afraid that he will not have to return to his country, because he will be scolded to death when he returns, and he will not be able to clean up after jumping into the Pacific.

  After paying the tax, he finally received $871.25 million.

  This money left a fraction, and the remaining 800 million US dollars was injected into Vision Capital by him.

  Vision Capital has established a new PE fund called Liqiu Fund.

  At the same time, this fund is also the main body of acquisition of Android.

  …………

  …………

  In the office of Envision Capital, Xia Jingxing is discussing development strategy with Liu Hai.

   "You just bought a small company for $50 million without blinking your eyes."

  Speaking of the newly acquired Android, Liu Hai shook his head straight. No matter how you look at it, it doesn’t look like it is worth 50 million.

  They checked the company’s projects, and the salary for next month was almost out of payment, and they were in arrears with various bills such as rent and cleaning.

   "Why, don't you think it's worth it?" Xia Jingxing asked with a smile.

   Liu Hai smiled and said: "No, no, you buy it, and you have your reason. Even if it is not worth it now, it will be worth in the future, even countless times more than 50 million US dollars."

  Xia Jingxing waved his hand, "Okay, less poor, let's get down to business!"

   Liu Hai nodded and said sternly: “According to your instructions, we have been constantly recruiting technicians in computer, mathematics and other disciplines. At present, the quantitative trading department has been initially set up...

  Lichun Fund has also expanded its scale. Now it has more than a dozen staff, which can cover a whole set of investment processes such as pre-investment, investment, and post-investment.

  Liqiu Fund has just been established, and currently there are only a few people. "

  Xia Jingxing nodded. Although Vision Capital hasn't managed much, he has been developing in an orderly manner.

  The best-developed one is Lixia Fund, whose asset management scale has doubled several times.

  Lichun Fund invests in start-ups. There is no successful exit case yet, so it is hard to talk about how good the development is.

  Liqiu Fund has just been established, with the goal of investing in or acquiring mature companies.

  Android is immature, an exception.

  Lichun and Liqiu two funds are all his own funds, only Lixia Fund is doped with external funds.

  Because in his opinion, the operation of this fund is relatively dangerous, and its controllability is not so high. Moreover, there was indeed no money at the time, and he needed to use other people's money to help him make money.

  He hadn’t made time to come before, and now he has been relieved of his post on Facebook. It’s time to sort out the business lines of Envision Capital.

  "Lichun and Liqiu Fund haven't found a suitable person at the helm?"

   Liu Hai glanced at Xia Jingxing and nodded, “Mainly you have too high a demand, you must have experience in the industry, but also familiar with the venture capital market in China and the United States. This kind of talent is too scarce, just like a panda.

  Or should it be split into two funds, the Chinese team and the American team, without interfering with each other.

  In my opinion, this will give you more combat effectiveness, faster decision-making, and at the same time it will be more able to lay the groundwork and fully integrate into the local market. "

  Xia Jingxing smiled and said: "You are right. Before, the funds in hand were very limited. Now that I have money, we should do a more detailed division of labor."

  Speaking of money, Liu Hai thought of 800 million dollars.

  "Does the US$800 million go to Lichun and Liqiu? Is it possible for our Lixia Fund to be evenly distributed?"

  Xia Jingxing understands the other party’s ideas and wants to expand the Lixia Fund.

  Although Liu Hai is escorting the entire Envision Capital at present, Xia Jingxing made it clear to him early in the morning that he is mainly responsible for the Lixia Fund.

  Of course, it is not Xia Jingxing who underestimated him, this is mainly because Liu Hai has no experience in trading VC and PE funds.

   "No hurry, let's talk about the annual meeting first."

   Liu Hai heard this, so he was very precise and didn't ask any more questions.

  …………

  …………

  The fund holds an annual meeting of investors once a year to report to the investors about their work results.

  Lixia Fund has been established for one year, so we have to follow the industry practice.

  The venue of the annual meeting was in the living room of a hotel in San Francisco.

  The area of ​​the hall is not large, just over 100 square meters.

  This is mainly because there are not many investors, the Stanford University Foundation, First Securities two institutional investors, plus Andrews and other individual investors.

   Liu Hai stood on the stage and introduced the investment cases and returns of the fund with PPTs.

  The language is simple and non-magnetic, but it just keeps a lot of investors away.

  This is because in addition to the two investments in Shanda and Sina, which made a huge profit of more than 40 million US dollars, the other stocks invested by Lixia Fund also made a lot of money.

  Now the single result is highlighted, and countless pairs of eyes flashed.

  Google stock more than doubled, making a huge profit of nearly 40 million US dollars.

  Investment in NetEase has more than doubled and earned more than 20 million U.S. dollars.

  Looking at these excellent investment transcripts, the investors in the audience began to whisper in a whisper.

   Liu Jinhang asked Xia Jingxing sitting beside him: "Jingxing, are there any plans to launch a second fund recently?"

  Because he spoke Chinese, Robert Wallace, the chief investment officer of the Stanford University Foundation sitting next to him, couldn't understand it.

  But this guy is very good at observing words and colors, and directly asked in English: "Dalun, are you discussing the establishment of a second fund?

  If so, Stanford University can invest 100 million US dollars! "

  This sentence is like oil in the water. When I heard that Stanford would invest 100 million U.S. dollars, how could other investors be stable.

   "We also want to vote, I vote 5 million US dollars!"

   "I voted 8 million!"

   "I vote 10 million!"

  ……

  Almost all the wealthy Chinese people who invested only one million US dollars before heard that Lixia Fund was planning to build a second fund, and they were scrambling to report the numbers, all wanting to get on this rich train.

  At the originally quiet occasion, Liu Hai couldn't continue his work report after being so disturbed.

  He gave a wry smile. This is a far cry from the treatment he received a year ago.

  Even if Xia Jingxing showed these wealthy individuals their personal stock trading accounts, many people expressed their disbelief and all kinds of doubts, which seemed to be due to luck.

   Being able to be present today can be regarded as a chance for Envision Capital, but also a chance for themselves.

  Xia Jingxing looked at the noisy scene and found it interesting.

  He glanced at the stage and gave Liu Hai a look.

   Liu Hai grabbed the microphone and said loudly: "Now I will summarize the investment results for everyone."

  Hearing this, everyone turned their eyes on the stage again.

   Liu Hai released a PPT with a detailed table in which it wrote how much money each stock earned and what the return on investment was.

   Liu Hai said: “Lixia Fund’s initial capital was US$36.25 million. Today, the asset management scale is US$550 million and the net assets are US$245 million.

  Everyone can simply understand that the 1 million US dollars you invested last year has become 6.25 million US dollars today, one year later! "

   "Manager Liu, just tell me, when will the second fund be set up?" someone shouted in the audience.

   "Already in preparation!"

  Hearing this, everyone smiled, and it seemed that there was a chance to get in the car.

  But the second half of the bangs made their hearts hang again.

   "However, the management fee and sharing fee have to be adjusted so slightly!"

   Liu Hai smiled and looked at everyone in the audience, his thumb and index finger compared with an "eight."

  The tiger’s mouth is wide open, like a blood basin.

  (End of this chapter)