My Age of Investment

   Chapter 1260 Rational Consumption

   "From the day of its establishment, Fuxing Semiconductor has been branded with a deep Fuxing system. In the future, it may still focus on undertaking orders within the group system.

   At most, orders from Hesse and chip startups that receive investment from industry funds.

  Overseas giants that compete with Fuxing Industry in the fields of consumer electronics, home appliances, and automobiles may not feel comfortable placing orders with Fuxing Semiconductor.

   Because this is an act of financing the enemy! "

  Xia Jingxing looked at Fu Jixun and smiled: "For example, Fuxing Mobile is trying its best to get rid of its dependence on Samsung chips. This is human nature.

   The important task of developing overseas markets in the future will still fall on Xinxin Semiconductor Group.

   Of course, Xinxin can also be used in the domestic market, and even become one of the suppliers of Fuxing Industry.

Even if there is competition between Fuxing Semiconductor and Xinxin Semiconductor, there is only partial competition.

  Semiconductor is a huge market, and it maintains rapid growth every year, and the two semiconductor groups can coexist. "

  Fu Jixun had no doubts at all, nodded and said "OK".

  Xia Jingxing looked at the other executives again, and everyone looked at the boss expectantly.

   Just now, in less than half an hour, Xia Jingxing arranged to distribute 33.3 billion US dollars of funds.

   This makes the executives who have not received the money itchy. Who doesn’t want the more money in their company’s account, the better?

   With more money, you can achieve greater results and get more rewards…

  Xia Jingxing said lightly: "Rich, Rao Lei, next I will inject 1 billion US dollars into each of the Silicon Valley office and the Beijing office, and set up two VC funds that are much larger than the previous ones.

   Your task is to continue betting on invested companies with this 1 billion US dollars, and at the same time look for new high-quality startups to invest in, so as to obtain the first IPO exit case as soon as possible. "

  Rich and Rao Lei looked a little embarrassed, and they were deeply hurt by Xia Jingxing's last words.

  Speaking of which, the Silicon Valley Office and the Beijing Office are the first two offices established by Envision Capital, which have been established for four or five years.

   As a result, the pace of development has been far behind the hedge fund sector.

  Hedge funds have already harvested the fruits of victory in units of tens of billions of dollars around the world at this time, while VC funds have not even achieved a large IPO case.

   This is not entirely due to the incompetence of the two, but is determined by the characteristics of VC funds. The effect of investment is too slow, far less than that of hedge funds that calculate profits in months and days.

   But then again, even PE funds with a low sense of presence within Envision Capital outperformed VC funds.

  Liqiu Fund acquired Android, and the investment gained two listed companies, Ari and Huiyuan Juice. The profit has been fully reflected.

   Bailu Fund has invested in Penguin, Leihuo Lighting, Supor and other companies, and has earned tens of billions of Hong Kong dollars from Penguin alone.

   At present, these two funds have been liquidated, and their holdings in the invested companies have either been sold or transferred to other funds of Vision Capital.

   Vision Capital has only one PE fund left at this time, which is the $5 billion fund managed by Abel, which has invested in Marvel and Facebook.

  Xia Jingxing turned his attention to Abel and warned: "The US Real Estate Recovery Fund's $1 billion investment has all been put in place, and your next task is to cooperate with the Friedrich family and the dog family office to establish a house rental company.

  Explore the mode first, if the mode works, I will add more funds later.

   There is also the PE fund. Although the 5 billion in the account has been spent, I allow you to pledge the equity for reinvestment. "

  Abel smiled and said, "Okay, Darren, I will finish these tasks seriously."

   Xia Jingxing no longer said much, Abel's ability to do things is still worthy of recognition.

   The Liqiu Fund and the Hedge Fund of Funds, which were previously managed by him, were all operated very well by him.

Therefore, Xia Jingxing has put together various funds such as $5 billion PE fund, $2 billion real estate fund, $1 billion fund of funds, $1.5 billion private credit fund, S1, S2, Liqiu No. 2 and other funds. The plug was given to Abel to manage.

   Among them, there are two real estate funds, one is the US$1 billion real estate recovery fund established in the United States, and the other is established in China, which has invested US$1 billion in Evergrande.

The    private credit fund is the one funded by China Investment Corporation with a US$1.5 billion investment, and it has also issued a loan of US$430 million to Hengtai.

  S1 is the No. 1 S Fund, which was established by the Blue Blood Noble with a capital contribution of US$3 billion and holds 35% of the fund shares of Liqiu No. 2.

  S2 is the No. 2 S fund. It was established by China Investment Group with a contribution of US$1.5 billion and holds 15% of the fund shares of Liqiu No. 2.

  Liqiu No. 2 holds about 20% of the four companies of Ali, Facebook, Youguan, and Domestic Holding Group, with a portfolio value of nearly 20 billion US dollars. Xia Jingxing personally holds 50% of the fund.

   From the perspective of book returns, the S fund invested by CIC Group and Blueblood Aristocrats has more than doubled the net return on investment.

   At present, S-funds, private credit funds, and hedge funds are added together, and CIC Group has assets of as much as 7 billion US dollars under the management of Vision Capital.

   The assets of the blue-blooded nobles plus one piece are as high as 13 billion US dollars.

  Xia Jingxing already holds shares in four companies: Facebook, Ali, Youguang, and Domestic Holdings, and some of them are mixed into Vision Capital.

   The asset management scale of these funds is all added together, nearly 30 billion US dollars, all managed by Abel.

   Together with the hedge funds and VC funds that have been reduced to more than 40 billion US dollars in asset management, the overall asset management scale of Vision Capital has reached 70 billion US dollars.

   This figure is very close to that of Blackstone, which has just exceeded the $100 billion asset management scale.

   And the assets managed by Envision Capital VC funds have not yet ushered in a round of listing explosion.

   Wait another year or two, which is the peak period for the concentrated listing of the invested start-ups.

  Xia Jingxing looked at Zhang Yong again and asked, "The domestic holding group should not be short of money, right?"

   Zhang Yong looked stunned, other companies are paying directly, why did they come to me and ask me if I was short of money?

   In fact, it is not that Xia Jingxing deliberately made things difficult for Zhang Yong, but that the domestic holdings relied on the online game business to make a lot of money, and it has been profitable for several consecutive quarters.

   "Mr. Xia, Weibo business and online payment business are still losing money, while Hainei.com relies on advertising and open platform to make a small profit.

   Although the online game business has strong profitability, we need to invest in self-developed games, and you also proposed a plan to set up a film and television company to invest in ten films of the same name in Shushan. "

   Seeing Zhang Yong constantly "crying poor" to himself, Xia Jingxing smiled, "Okay, don't say it, the domestic holding group will also accept a capital injection of 1 billion US dollars."

  Zhang Yong smirked and didn't say anything. With the $1 billion injection, he could let Xia Jingxing go.

   He is not very supportive of the boss's "Shushan Plan" and feels that it is too risky.

   Is Director Tsui Hark's lesson not profound enough?

   This kind of special effects production, even if Marvel provides experience and assistance, and Hollywood special effects companies provide technical support, they may lose the bottom line.

   In the final analysis, the domestic ticket warehouse can’t support such a super big production, even if it is acclaimed and sold, so what?

  The ceiling of the box office is there. Last year's box office champion "If You Are the One" sold 325 million, and the runner-up "Chibi Shang" sold 321 million.

  If the production cost of a single movie exceeds 200 million RMB, 100% will lose money.

   In addition, there is no Waifu market for Chinese movies, how can it be compared with other people in Hollywood.

   He also persuaded Xia Jingxing, but the boss was rich and self-willed and did not listen to him at all.

   So now the boss proposes to increase the capital by 1 billion US dollars, which is very suitable for him.

   Even if all the $1 billion is a disaster, as long as the domestic game continues to maintain a strong profitability, it will not affect the normal operation of the domestic holding group at all.

  Xia Jingxing looked at Lu Qi and asked, "Do you think it is better for Android to open up for financing, or is it more appropriate for me to continue to increase capital?"

  Lu Qi pondered for a moment, then replied: "It's up to you to continue to increase capital. Now there are only two mobile phone manufacturers in the Android camp, Fuxing and Meizu. The ecology has not yet formed, and it is difficult to obtain a high valuation."

   "Okay, then I'll invest another $1 billion in Android."

  Lu Qi nodded, expressing no objection.

After some discussions, Xia Jingxing decided on the capital increase plan for each company.

  Except for Facebook and YouTube, which do not need financing, all of his important companies have sent representatives to the scene today.

  Tesla is an exception, because Straubel told Xia Jingxing that they have found a heavyweight investor and need this company to provide credit endorsement for Tesla to go public.

   Therefore, Tesla was excluded from the capital increase list.

   Envision Capital's hedge funds are now all open to external LPs for subscription, so no financing is required.

The list of financing is probably: Fuxing Industry 10 billion US dollars, RMB industry fund 13.3 billion US dollars, US dollar industry fund 10 billion US dollars, Chinese and US VC funds each 1 billion US dollars, Android and domestic holdings 1 billion US dollars each, real estate recovery fund 1 billion Dollar.

   Add one more piece here, and it’s $38.3 billion.

  Acquired AIA with a total investment of US$10.3 billion in principal.

   Some time ago, the two major investment banks repaid US$5.4 billion in principal and interest, adding up to about US$5.6 billion.

   In addition, he personally owes Frederick $720 million, which is due in a few months.

Xia Jingxing would not repay the rogue old golden retriever in advance, but he still prepared the $720 million to buy a large-denomination certificate of deposit from Bank of America, and before returning it to Frederick, he could still earn a few more monthly interest payments.

   Mosquito legs are also meat! The richer you are, the more stingy you must be!

   In addition, he also distributed $2 billion in bonuses to Vision Capital executives and all employees.

   The US$600 million invested in Hengtai Group some time ago was paid in advance by the private credit fund, and now it needs to be returned.

   Adding up the zeros, Xia Jingxing found that his $80 billion was not much left!

   After various detailed statistics, Xia Jingxing's efforts in the past three years have achieved more than 80 billion US dollars.

   The exact figure should be $84.5 billion.

Among them, the profit from self-owned funds is US$52 billion, the management fee and income share of Vision Capital is US$26 billion, the profit from selling Penguin equity is US$3 billion, and the income after deduction of Greenlight Capital is US$500 million. Paulson Fund deducts After-fee revenue share of $3 billion.

   All the money invested in Greenlight Capital and Paulson Fund has been withdrawn by him.

  The $1.4 billion principal he invested was withdrawn along with the proceeds.

   Among the self-owned funds mixed in the Vision Capital Fund, he also has a principal of 4.5 billion US dollars and 13.7 billion Hong Kong dollars, totaling about 6.3 billion US dollars.

   Therefore, he held a total of 92.2 billion US dollars in funds at his peak.

   But when he paid off various loans, as well as the acquisition and capital increase of Yitong, only $34.7 billion was left.

   The last time the Lixia Fund was liquidated, he also distributed more than 600 million US dollars, but he used it to build a house and buy a house, and there was about 300 million US dollars left.

With    added together, he still has a total of $35 billion in his own cash, and he is no longer personally owed any money.

   However, nearly two-thirds of the funds were spent all at once, which still made Xia Jingxing a little bit alert.

   If you continue to spend so lavishly, you won't go back to the life with huge debts a few years ago, right?

   He decided that it would be better to build a small personal treasury, live within our means, and consume rationally.

   (end of this chapter)