My Age of Investment

  Chapter 359 New Friends

  Sequoia China?

  Xia Jingxing pointed out that this famous investment institution was established this year in the past life!

  Why did this old man find himself on his head?

  What do you think about yourself?

  But after hearing the old man talk so much before, he almost guessed some.

  The media, and some silly investors feel that the Lichun Fund has just been established, with mediocre investment performance, and has invested in an electric car that no one is optimistic about.

  But the old man has a lot of information. He should have thoroughly investigated himself and knew about his investment in Scape.

  Scape now has 20 million users. Although it is not profitable, eaby's acquisition offer has reached 2 billion US dollars!

  Xia Jinghang invested 400,000 and 1.44 million U.S. dollars, followed two rounds of follow-up investment, and held eight stakes in this Internet phone company.

  Only this investment, not to mention embarking on the VC altar, but it is absolutely no problem to get a title such as "excellent vision" and "exceptional talent".

  In addition, he also invested in several Chinese Internet and technology companies such as Ganji.com and Tudou. In the eyes of Sequoia Capital or Moritz, he should be a person who understands VC and the Chinese market.

After trying to understand, Xia Jingxing did not make a rash statement, but asked: "How does Sequoia want to cooperate?"

  "As the world's top investment institution, Sequoia has not only owned a sign, but we have also built a complete set of post-investment services over the past few decades."

  Old Moritz smiled and said, “It’s undeniable, Darren, you are a man of vision.

  However, investing is not a one-on-one effort, let alone just leave it alone.

  Perfect post-investment services can help entrepreneurs go further, and can also help investment institutions capture greater benefits.

  At the same time, this is also the core competitiveness of a VC organization.

  Investment is not something you can do just by having money.

  In the angel investment stage, entrepreneurs have nothing and may only value money.

  In the A round, B round, C round..., stupid money is no longer enough to impress entrepreneurs. "

  Xia Jingxing raised his hand and motioned to the old man to continue talking. He is currently worrying about how to build a post-investment service team. It is up to the old man to be a "live thunderstorm".

  Moritz continued with a smile: "You have a good investment talent, and Sequoia has decades of investment experience.

  The cooperation between our two parties can definitely produce the effect that one plus one is greater than two.

  I mean, we both set up a "Sequoia China" fund, and you will be the managing partner.

  In addition to helping you train a strong post-investment management team, Sequoia Capital can also help you raise funds.

  I know that Xiaoman Fund recently raised a hedge fund starting at 500 million U.S. dollars. That's because your securities investment is doing a good job.

  The exit cycle of VC funds is relatively long. By the time Lichun Fund handed in a beautiful answer sheet, it may be three or five years later.

  Starting this year, a large number of venture capital institutions have entered China on Sandhill Road and have begun to set up local Chinese funds.

  If you want to defeat these powerful opponents in the Chinese market, I believe there is no more suitable partner for you than our Sequoia. "

  Xia Jingxing is not sure how much interest Shen Beipeng sacrificed in his previous life before he obtained the brand authorization from Sequoia Capital. It is expected that the transfer interest will not be lost.

  But he feels that he can't use Sequoia Capital's signature at all, because he himself is the best signature.

  The post-investment service has indeed stretched a little bit, but this cannot be accomplished overnight. It is built slowly.

  After figuring out the old man’s intentions, Xia Jingxing shook his head, "Sorry, for this type of cooperation, I can only say "no"."

  "Dalun, don't make a decision in a hurry, listen to me first."

  Moritz waved his hand and said calmly: "No matter which country you move to, entrepreneurs will buy the sign of Sequoia Capital.

  I know that you have a lot of fame in China. It is not an exaggeration to say that you are the idol of young entrepreneurs.

  But if you want to do well in this business, you must have a complete set of strategies to invest in companies with potential and huge returns on a large scale.

  For example, Sequoia has always adopted "track theory". "

  Xia Jingxing feels that the old man is beginning to pour himself into ecstasy. On the hammer track, it is rich and doing whatever he wants.

  Of course, it is not just money, but also a golden sign.

  Sequoia China has invested in a large number of new energy vehicle companies such as Weilai, Xiaopeng, Byton, Leaper, and Hengtai, all of which are competitors.

  There are many things that need to be coordinated. The most important thing is that entrepreneurs buy this signature account.

   "I don't like to borrow other people's signs, and I want to build my own fund brand."

   After finishing speaking, Xia Jingxing felt that he was a little bloated. He thought that he didn't need this sign at all, and he was confident that he would start the sign of Envision Capital.

  Borrowing Sequoia Capital’s signature, the investment business will definitely go smoother in the early stage, but it also means that most of the benefits will be transferred out.

  Summarize in one sentence: Most of China's Internet development dividends have been eaten by foreign capital.

  The old man Moritz was a little displeased when he heard this, and his face quickly darkened.

  He feels that he can let you a little boy take charge of Sequoia China, it is already a big face, and he even rejected me.

  He endured the anger in his heart and asked: "Then what do you want? Sequoia establishes a fund of funds to be an LP for Envision Capital?"

  Xia Jingxing would not want Sequoia to be a funder for himself, and net work for capitalists.

  The VC fund doesn't need much funds. He can handle it all by himself, and it makes no sense to give the money in his pocket to others.

  But he still saved Moritz a bit of face, and said with a smile: "If Sequoia wants to give us part of the capital, it can be accepted, but the amount of capital raised should not be too much."

  Moritz just asked, how could it be possible to invest money in Vision Capital, because that in disguise shows that his own investment ability is not good.

   However, Xia Jingxing's understatement and the "don't invest too much" in his words still made him feel angry.

   "Okay, so be it!"

  Moritz knew that there was no possibility of cooperation with Xia Jingxing, but he still maintained his superficial demeanor.

  Xia Jingxing didn’t think it was a pity either.

  According to his understanding, Sequoia was looking for a candidate for the helm of the China Fund. He once found Deng Feng, but was rejected by others.

  Deng Feng insisted on using the "Northern Lights Investment" brand, but the old man Moritz sent the former to the gate and said, "Look, Deng Feng, this is a red carpet."

  Deng Feng said: "Where is it?"

  Moritz said: "Remember, this is the red carpet. Whenever you want to come to Sequoia, you will come back."

  The old man Moritz is very pretending, he wants to express the meaning of choosing Sequoia, that is, choosing a golden road.

  Many years later, Shen Beipeng is indeed better known than Deng Feng, and his investment is more successful.

  However, Xia Jingxing feels that it is not entirely the brand. The Ctrip and Homeinns founded by Shen Beipeng are all listed companies in China, while Deng Feng’s company is based in the United States.

  Shen Beipeng is better than Deng Feng in terms of familiarity with the Chinese local market.

  Deng Feng is a technology god, an investor who can compete with industry experts on forums.

  Shen Beipeng comes from an investment bank and is proficient in capital market play.

  Since he rejected Moritz, Xia Jingxing didn't want to stay for a long time. After saying a few words on the scene, he was ready to leave.

   Moritz still graciously sent Xia Jingxing to the door, and added: "If you change your mind, you can contact me at any time."

  Xia Jingxing smiled, said nothing, and strode out.

  As soon as he got on the bus, he received a call from Deng Feng.

   "Jingxing, are you free? Come to Pebble Beach to play golf if you have time, and I will introduce you to some new friends."

  (End of this chapter)