My Age of Investment

  Chapter 1022: Choice is greater than effort

  Walden International's Chen Liwu didn't come to the meeting for some reason. After the meeting, he specifically called Xia Jingxing to apologize.

  After learning that the Renaissance Industry Fund had received 100 billion yuan in investment commitments, and the actual 8.2 billion yuan in place, the man immediately made a decision, saying that Walden International was willing to invest 800 million yuan, rounding up the whole number.

  Xia Jingxing also did not expect Chen Liwu to be so courageous, and happily accepted the other party’s investment promise.

  In the past, he and Chen Liwu had a little holiday, but now they all disappeared.

  I didn’t suffer anyway, so let’s look forward to everything.

  Hung up Chen Liwu's call, Xia Jingxing began to settle accounts.

  Mango seed fund invested more than 10 billion in A shares. He drew away 10 billion of it, and invested 5 billion in the Fuxing Industrial Holding Group. The other 5 billion was invested in Fuxing Industrial Fund, which just happened to be spent.

  Another US$1 billion financing of the Renaissance Industry Holding Group was transferred from Vision Capital America and used the ballast funds from the second wave of short selling operations.

However, the ballast capital increased instead of falling, because Goldman Sachs and Morgan Stanley led him to make a one-year equity pledge loan of up to 5 billion U.S. dollars, including the remaining 400 million U.S. dollars in debt. There is a total of 5.4 billion US dollars in debt.

  In addition, he also owes Frederich US$720 million to purchase the property. The agreement stipulates a one-time payment after the expiration of three years. It is still early and will not expire until the second half of next year.

  Fredrich went to the 40th Wall Street to sit in two days, and he called it a drop in. It was actually a debt collection. By the way, let’s see if Vision Capital had run away.

  Looking at the Golden Retriever Lion King being so stingy and lacking in the spirit of the contract, even if he has money, he does not intend to pay it back in advance, and must be delayed until the contract expires.

  ZeroZero total, in addition to the operating liabilities of its subsidiaries, his personal loans and arrears are just two, totaling more than 6 billion U.S. dollars.

   After deducting the US$1 billion invested in the Renaissance Industry Group, Envision Capital’s US account originally had US$8 billion in cash plus US$5 billion in loans.

However, the U.S. stocks and European stocks have rebounded a lot in retaliation these days. The funds operated by Liu Hai, Jiang Ping, and Li Yaozu have seen large losses on the books. They have successively added more than $3 billion in deposits, gritted their teeth. No lightening up, no stopping loss.

  As a result, the total cash reserves in the Envision Capital account are no more than tens of billions of dollars.

  He doesn’t intend to embezzle the money for other purposes.

  Even if you sleep on your stomach, you still have to pay a lot of interest to the major lending banks headed by the two major investment banks. They cannot be used easily. Investment safety is the most important. You must be alert to any unexpected situations that may occur.

   Therefore, the matter of the two semiconductor industry funds can only be slowed down.

  In fact, it did not delay too much. The domestic semiconductor industry fund has 9 billion yuan in capital, and it is fully operational. There is no time for this money to be invested.

  Xia Jingxing was immersed in writing and drawing on the table seriously, Rao Lei knocked on the door and walked in. Behind him was a middle-aged man with a round face and glasses.

   Lei Rao introduced: "Mr. Xia, this is Mr. Gong Hongjia. I just signed the Hikvision equity transfer contract with him next door. He heard that you have returned to the company, so he came to visit you."

  Seeing Xia Jingxing getting up, raising her hand and walking towards him, Gong Hongjia quickly stretched out her hands and walked up to greet him quickly, "Mr. Xia, hello, I'm bothering you."

  Although Gong Hongjia is nearly two rounds older than Xia Jingxing, he respects Xia Jingxing not only for his power, but also his investment perspective.

  Skype has been the ceiling of investment cases for angel investors in China. Gong Hongjia also makes personal angel investment, so naturally he knows how rare it is.

   After a few greetings, Xia Jingxing greeted Gong Hongjia to sit down on the reception sofa, and Rao Lei spoke a few words from time to time next to him.

  Xia Jingxing quickly figured it out. Just now, Gong Hongjia transferred 10% of Hikvision’s shares in Envision Capital at a valuation of 1 billion yuan.

"I heard that Mr. Gong transferred 15% of the shares to Hikvision’s management and technical staff at a price of 750,000 yuan, and the second shareholder replaced the major shareholder for equity incentives! This is really a pattern that is rare in the industry. ."

  Gong Hongjia laughed heartily, "Mr. Xia, you passed the award, it is for the enterprise to achieve better development!

  Now I have transferred another 10% of the shares to Envision Capital and introduced a powerful shareholder. I believe that Hikvision’s development will be more secure in the future.

  Now I still have 24% of the shares left in my hand, which is a relatively reasonable ratio. When the company goes public this year or next year, I can also experience financial freedom. "

  Xia Jingxing had a smile at the corner of her mouth. He was so personal. I didn't even speak, so I just blocked the words to death.

  Rao Lei also values ​​Hikvision, but it has not reached the level of Xia Jingxing’s importance. Xia Jingxing asked him to acquire as many shares of this company as possible, and a premium of one or two times was acceptable.

  It took him all his energy to get a 10% stake from Gong Hongjia by giving him a price that was twice the premium of Hikvision’s 500 million yuan valuation.

  Whether he raises prices or talks about it, Gong Hongjia will not sell more shares, and his attitude is extremely determined.

Xia Jingxing also put away his own careful thoughts. Gong Hongjia still has investment vision. Perhaps the reason why the other party sold 10% of Envision Capital’s shares was to introduce a strong shareholder and allow the company to achieve better development, rather than simply The premium of the covetous equity transfer.

   Thinking of this, Xia Jingxing decided to stop here.

   "President Xia, I take the liberty to ask, how did Fuxing Industry contact Dahua shares recently? Wasn't it... contacting us before?"

  Xia Jingxing glanced at Gong Hongjia, who cautiously smiled on his face.

  "I’m not sure about this. I will ask Deng Yuanyun the next day. He has always been in charge of the investment work within the group."

Gong Hongjia hurriedly waved his hand, "It's okay, Mr. Xia, I just ask casually. In fact, when Renaissance Industry contacted Hikvision before, I was very supportive of accepting investment, but the state-owned controlling shareholder did not agree with it. They wanted to go public directly. Financing."

  Xia Jingxing smiled. In fact, the company that Fuxing Industry wants to invest most is Hikvision, and it also wants to include this company in the scope of ecological partners.

Security is an indispensable part of various cloud and smart industries such as smart cities, smart transportation, digital government, etc. Fuxing Industry Group does not do surveillance cameras and related equipment, but will develop related software in the future, and then integrate various ecological partners. software and hardware.

   But Hikvision’s attitude is ambiguous, and Fuxing Industry has only contacted Dahua.

  If Hikvision finally does not accept the investment from Renaissance Industry, then it can only invest in its competitors.

  Xia Jingxing vaguely remembered that Hikvision was still developing smart home platforms, IoT cloud platforms, and AI platforms after its development. Maybe it will become a competitor with Fuxing Industry in the future.

  At present, the two companies still have two distinct development routes, but as new technologies mature and the era of industrial integration comes, the two lines will cross and meet.

  However, now I can’t think about that long-term. I can only invest in Hikvision first, or add a Dahua stock as a spare tire, and then see which company to support depending on the situation.

  I had the idea of ​​doing it myself or acquiring one of the two companies, but it was quickly rejected by him. At present, there are enough cross-fields, and no matter how much it is, it will be indigestible.

  Sitting for a while, Gong Hongjia took the initiative to leave after hearing no more news from Xia Jingxing that "Fuxing Industry Group intends to invest in Dahua shares".

  Rao Lei sent him out of the company, and he pushed the door back within two minutes. As soon as he entered the room, he said, “Mr. Xia, I did my best, and I could only get 10% of the shares.”

  Xia Jingxing nodded, "10% is 10%, and the ratio is not very small."

  "Brother Rao, Mr. Fu will return to Singapore to investigate the market in a while. He recommends you to take over his position as the temporary head of the Beijing office and oversee the VC business department."

  Rao Lei was taken aback, and then he reacted, is he going to be promoted?

  "You are still very suitable to be a VC. After the initial difficult period, I discovered a large number of good quality startups such as Xueersi and Aier Ophthalmology."

Xia Jingxing looked at Rao Lei with a trace of appreciation in his eyes. He did not give any guidance. These two companies were the investment targets that the other party led their team to find. Maybe there is a place to rely on the big platform of Envision Capital, but the investment vision and investment The sense of smell is still cultivated.

  Fu Jixun will go to Singapore to explore the way in a while. If not unexpectedly, he will become the head of Envision Capital’s Singapore office, in charge of the US$10 billion semiconductor industry fund.

Xia Jingxing plans to let Rao Lei take over the position of the person in charge of the Beijing office that was vacated.

  Half an hour later, when the conversation ended, Rao Lei walked out of Xia Jingxing’s office in a daze.

  After returning to his office, it took him a long time to come back to his senses, knowing that he had finally established a foothold in the venture capital industry.

  The idea of ​​continuing to start a business has completely faded!

  His partner and old friend Liu Jian followed Chen Yizhou for several years. Now the voice of Renren has almost completely disappeared from the market, and the traffic of Maopu continues to decline.

  Two days ago, Liu Jian asked him to drink, and the old brother’s face was full of sorrow and regret.

I would like to ask him to be a lobbyist and speak nicely to Xia Jingxing. The three companies of Vision Capital, Renaissance Industry, and Overseas Holdings can give a middle management position casually. Anyway, I don’t want to stay in Qianxiang anymore. Life It was gloomy and there was no future.

  Liu Jian and Xia Jingxing have also known old friends for five or six years, but the other party joined Thousand Oaks following the acquisition of Youyou Mi, and Rao Lei chose to join the Vision Capital, which had just landed in China.

  Nowadays, the development of the two is one world at a time.

  Liu Jian was very unhappy. He thought of Xia Jingxing's company to come to work, but he had no face to contact Xia Jingxing by himself, or he could not hold on his face because he was afraid of being rejected.

  Imagine how Liu Jian was a high-spirited person, but now he has fallen into such a field, and he has no confidence to even apply for a middle-level position.

  Looking at the busy streets outside the window, Rao Lei was sighed. Sometimes life is really more choice than effort.

  (End of this chapter)