My Age of Investment

  Chapter 1020 Hundred Billion Funds

  36th floor of China Merchants Building, Vision Capital Conference Room.

  Chen Hong, Zhu Min, Deng Feng, Xu Xin, Lin Xinhe, Chen Datong, Wu Ping, Wang Jingbo and many other investors stared at Xia Jingxing, who was speaking passionately on the stage.

  "...China actually has no shortage of outstanding science and engineering talents and semiconductor talents, but most of these people are in Silicon Valley. Even in China, they are working for a group of foreign chip manufacturers such as Intel, Infineon, Samsung, and SK Hynix."

  “This is actually a normal phenomenon. Let’s eat! Foreign companies have technology and good salary and benefits, while domestic companies generally have low salaries and low technical levels, which cannot give them a stage to display their personal talents.”

  "Semiconductor is a capital and technology-intensive industry. Except for the power of the whole country, ordinary capital dare not touch this thing. It is expensive, long-term, and high-risk."

"In the past, the country was not wealthy, and was unable to invest in large-scale support for the semiconductor industry. However, venture capital did not achieve greater progress and development until the new century, or more accurately, after 2005. Various reasons have led to the current domestic semiconductor industry. Lack of funds, talents, and industry chains."

"But on the other hand, it is precisely because the semiconductor industry is thriving, and the national economy and the demand for electronic products are growing rapidly, this will make semiconductors a sunrise industry in the next ten, twenty, or even longer periods of time. "

   "We are now entering, and we will ride the wind of the times and enjoy this wave of upcoming industrial dividends."

"The planned fundraising scale of the first phase of the IC Industry Investment Fund is 100 billion yuan. After the fundraising is completed, the fund will invest in 100-200 outstanding start-ups around the semiconductor industry chain, support and train them to grow, and help them become their own A leader in the field."

  ……

  Xia Jingxing finished his dry speech, picked up the mineral water on the table, unscrewed it and took a sip.

  At this time, the crowd of investment talents in the conference room woke up like a dream. After reacting, they immediately applauded.

   "Are you really casting 100 billion yuan?"

  It was Zhu Min who asked the question. At this time, the expression on his face was more exaggerated than Song Xiaobao on the stage, and he was really surprised.

  Other people's reaction is similar to Zhu Min, and they all have similar questions. This is 100 billion, not 10 million, and not 1,000.

  If they remember correctly, last year's Hurun Rich List statistics Xia Jingxing's worth was exactly 100 billion.

Although this statistical data may not be accurate, they guessed it should be almost the same. Even if the estimate is less, the real value is 150 billion or 200 billion, but most of them are equity assets, and they are still the equity of unlisted companies, which can become 100 billion in cash?

  In the past, Xia Jingxing mentioned the hundreds of billions of integrated circuit industry funds again and again, but no one took them seriously. After all, Xia Jingxing and Ma Yun are very close, and it is normal to be infected with the bad habits of old horses.

There was a confident and calm smile on Xia Jingxing’s face. Although the friends and colleagues who were present today were all well-connected friends and colleagues, he did not intend to explain the source of the funds too much. After all, everyone has their own secrets these days. Just put the exact amount of capital on the agreement.

   "Yes, the proposed size of the fund is 100 billion yuan, and all investment commitments will be put on paper."

  Hearing this, everyone's expressions were a little moved. This is not to empty the cannon, but to move the real thing!

  "100 billion is not a small amount, and the fundraising process will be relatively long, but the semiconductor industry is too far behind and development is urgent.

   Therefore, Envision Capital can promise that the first 5 billion fund will be credited within one week after the fund is established, and then the fund's operation will be started immediately. "

  Xia Jingxing looked around the investors present and said, “The remaining 95 billion RMB will be delivered within a year. If you are willing to contribute, you can make a single or multiple injections within this year depending on the situation.

  Of course, we will also carry out fund-raising activities externally, striving to complete the 100 billion fund-raising goal more quickly and satisfactorily. "

  Xu Xin asked a very critical question: "Vision Capital, like us, is also an LP limited partner?"

  Xia Jingxing nodded slightly, "Yes!"

   Then he turned his gaze to the smiling Deng Yuanyun, "The GP general partner is there!"

  Deng Yuanyun immediately took the words: "Dear investors, the Fuxing Industry Holding Group is closer to the industry, and we have a chip industry like Fuxing Semiconductor under our control, so we are willing to support the development of the entire semiconductor industry chain.

  The fund is handed over to us, please rest assured that we will do our best to realize the investment appreciation of the fund.

  In addition, as the manager of the fund, Renaissance Industry, in order to express our position of advancing and retreating with LP, we plan to subscribe 2% of the fund of RMB 2 billion. "

  Everyone nodded slightly, but no one spoke.

  The meeting room became very quiet, and everyone was thinking about the intention of Xia Jingxing's arrangement.

  It is obvious that Envision Capital is mainly operating this fund, but why is the other party unwilling to end?

  Some people speculate that they want to use this fund to broaden the industrial moat of the Renaissance Industry and at the same time allow the Renaissance Industry and the invested companies to produce industrial synergies.

  Of course, Envision Capital is a major shareholder of Fuxing Industrial Group. How to operate is a matter of their own family. They don’t have a large share of capital, and basically have no right to speak. It is not their turn to talk too much.

  To be honest, Deng Feng, Chen Hong, Zhu Min, Xu Xin, and Lin Xinhe were quite satisfied with this arrangement.

  Because the venture capital institutions behind the five of them are small shareholders of Fuxing Semiconductor, each of which has invested 200 million yuan and owns 1.84% of Fuxing Semiconductor.

  They invest their money in the integrated circuit industry investment fund. This fund will help revive the semiconductor industry to develop the upstream and downstream industrial chain. This is in their interests and there is nothing wrong with it.

Both Chen Datong and Wu Ping are the founders of Spreadtrum Communications. The former is the CTO and the latter is the CEO.

This company landed on Nasdaq in the United States as "China's first 3G concept stock" last year and became China's first listed chip platform company and the largest chip design company by market capitalization. It also helped Vision Capital as a shareholder. Harvest an IPO return case again.

  Last year, when Fuxing Semiconductor was founded, Chen Datong visited Modu. At that time, he wanted to invest in this company, but he had no funds.

   So Xia Jingxing promised that after Chen Datong established the fund, Fuxing Semiconductor's second round of financing would be open to him.

  Now Chen Datong has resigned from Spreadtrum and established his own fund, Huashan Capital, so Xia Jingxing also invited the other party today to see if there is any further cooperation opportunity.

Wu Wei did not leave, and is still serving as the CEO of Spreadtrum Communications. He and Deng Feng and Chen Datong are all Tsinghua chip helpers. Today, he came to attend the conference on behalf of Spreadtrum and intends to invest a little money in the IC industry fund, which is equivalent to giving Spreadtrum Communications. Get some resources for follow-up development.

  The two of them didn't have much opinion. In their opinion, it didn't matter whether the management right of the fund belonged to Envision Capital or Renaissance Industry, and it would not fall into their hands anyway.

  Wang Jingbo will not have any more opinions. She is here on behalf of Noah Wealth. Xia Jingxing wants her to help sell the investment shares of IC industry funds.

  She is also not sure whether this long-term investment product can be sold. In short, if the shareholder of Vision Capital has spoken, she will come.

  Looking around the crowd, Xia Jingxing knew what he knew, and there shouldn’t be any comments, except for Fu Jixun, the person in charge of Vision Capital’s Beijing Office.

  Fujixun shrugged his head with a little disappointment on his face. In the end, he still did not dispute Deng Yuanyun, who belonged to the industrial school.

  However, he also understands the boss’s arrangement. The IC Industry Fund belongs to industrial capital, and it should be more effective if it is handed over to Renaissance Industry to manage and operate it.

  In fact, none of the people present at the scene understood Xia Jingxing’s other meaning. Envision Capital is still in the United States. It is not suitable for large-scale development of semiconductors, which may cause unnecessary trouble.

  Xia Jingxing said: “If it is managed by the Fuxing Industry Holding Group, then the name of the IC Industry Investment Fund is somewhat inappropriate. I plan to change it to the Fuxing Industry Industry Fund.”

  You look at me and I look at you, and they all nodded, indicating that it is feasible.

  Xia Jingxing smiled. Although the name of the IC Industry Investment Fund is more eye-catching and grandiose, since they have all decided to keep a low profile, they should keep a low profile to the end.

The name   Renaissance Industry Industry Fund sounds very low-key, and the structure is small. It looks like the name of a fund that invests in backward manufacturing that is not seen in Europe and the United States.

  However, this does not affect the investment in the semiconductor industry by the Renaissance Industry Industry Fund. As long as the first payment is in place, it will immediately start to move forward.

  (End of this chapter)