My Age of Investment

  Chapter 990 Christmas Gifts

After deciding to invest in Atieva founded by Xie Jiapeng, Xia Jingxing no longer hesitated, and immediately called Deng Yuanyun, who was in China, to come to Silicon Valley as soon as possible.

  Deng Yuanyun brought a team of people to Silicon Valley from China, and quickly launched the investigation and financing negotiation of Atieva.

  Atieva is currently just a newly founded company, with no products, no business, and even few employees.

  Deng Yuanyun doesn’t know what the big boss is after this company.

  The biggest highlight is probably the two founders of the company.

Before joining Tesla, Xie Jiapeng founded a display and computer manufacturing company named Wyse in 1981. Its terminal product sales were once second only to IBM, and successfully listed on the Nasdaq exchange in 1984. Listed.

  In the American technology circle in the 1980s, Xie Jiapeng’s popularity and achievements should be second only to Wang An.

  In comparison, Huang Renxun, Chen Hong, Deng Feng, and Zhu Min are all Chinese entrepreneurs of the junior generation.

  But the good times didn't last long. Wyse gradually couldn't keep up with the times, and its market share continued to shrink. In the past two years, it was acquired by a PE fund.

  Xie Jiapeng also left Wyse and joined Tesla at the invitation of Martin Eberhard.

  Eberhard used to be an engineer at Wyse and worked for Xie Jiapeng.

  Equivalent to Feng Shui turns, Xie Jiapeng worked for Eberhard, a former employee.

   Another founder of Atieva is Wen Shiming, who once worked as a vice president at Oracle and is also a well-known Chinese executive in Silicon Valley.

  The two founders are a little older, both in their 50s and 60s.

  Looking at the two gray hairs, Deng Yuanyun was really worried whether the two of them could make the product and put the company on the market.

  Although the venture capital industry has no statutory regulations not to invest in the elderly, but when encountering older entrepreneurs, I am really worried about whether the other party’s thinking can keep up with the times, and whether there is any physical strength and energy to start a business.

  When Deng Yuanyun found Xia Jingxing and expressed his concern to the latter, he really asked Xia Jingxing.

  Because the two old men in the previous life were expelled by capital, and the other retired in 2020, the car did not usher in mass production...

  However, Xia Jingxing does not expect the company to generate financial returns. What he hopes is to invest and gradually control Atieva to save some technology for Fuxing Automobile. In short, it is to borrow chickens to lay eggs.

  So, he didn't care about the age of the two founders at all. It's better to be a little older than to be stunned. It would be troublesome to meet Dai Wei.

  With the full support of Xia Jingxing, Deng Yuanyun soon reached an investment agreement with Atieva on behalf of the Fuxing Industry Holding Group.

  Invested 5 million US dollars and won 25% of this start-up.

  Seeing the arrogance of the local tyrants from China, the Rockefeller Family Venture Capital Fund voluntarily withdrew from this project.

  After the transaction is completed, Deng Yuanyun is also ready to return to China with his team.

  Before leaving, he came to Tesla’s office park and had a conversation with Xia Jingxing.

   "After I went back, I officially hung up the brand of Fuxing Auto, collected some talents to build the team frame, and at the same time identified a poorly managed car company to start acquisition negotiations."

  Deng Yuanyun frowned slightly, “It’s a little bit early, the wind of new energy has not yet blown into the country. Although there have been meetings and discussions in two days, the industry liberalization and support policies have not been introduced.

  Without the above policy promotion, it is difficult for our private company to promote the market.

  Atieva is not planning to start the R&D work of Sanden? We can buy their technical solutions in the future, or acquire this company. "

  Xia Jingxing smiled and said, “Didn’t the "New Energy Vehicle Production Access Management Rules" officially start to implement this year? New energy vehicles have also been included in the Catalog of Industries encouraged by the National Development and Reform Commission.

  Next year’s Olympics, a batch of hybrid and pure electric vehicles will be launched for demonstration operations.

  The spring breeze of new energy has actually been blowing, but it is not obvious yet. "

  Deng Yuanyun said indifferently: “It’s just that I am worried that I entered the new energy vehicle field too early. Not only did I not occupy the first mover advantage, but it caused a lot of unnecessary losses.”

  Xia Jingxing shook his head and laughed, "The money I lost is not worth mentioning. The most important thing is the card slot.

  Tesla will launch its second car next year, a four-door coupe developed by itself from the chassis to the body, from the battery management system to the software system. Do you understand the meaning of this car? "

  Deng Yuanyun pondered for a moment, then nodded and said, “I see, it should be a mass-produced car in the true sense, right?

  Roadster has sold more than two thousand vehicles. Strictly speaking, it is still a hand-crafted workshop, with a playful nature, and the production capacity is not good. It does not really promote industry change. "

  Xia Jingxing smiled slightly, "Yes, so I directly asked Tesla to stop selling the Roadster, and now the energy of the whole company is devoted to ModelS.

  The appearance of this car means that the Tesla market is sinking, and it is truly beginning to shake the market position of fuel vehicles.

  At the same time, this car will also improve and optimize the problems exposed by Roadster, such as charging, driving experience, etc. one by one.

  I hope to use the performance of ModelS to impress consumers, not to attract consumers with curiosity like Roadster. "

  Deng Yuanyun thought silently in his mind that if ModelS is as perfect as the boss described, then it is really likely to bring some impact to the auto market dominated by fuel vehicles.

  However, it is still too early to say that the fuel car will be killed.

  Xia Jingxing continued: “Silicon Valley has always been a holy place in the hearts of entrepreneurs from all over the world. Domestic entrepreneurs also like to set their sights on Silicon Valley. They started to follow up after seeing what new gadgets were born and getting a good response.

  The advantage of doing this is to touch the Americans to cross the river, but the disadvantage is that they will always be followers.

  Automobiles have a history of one hundred years. China has always had a dream of being a big automobile nation. Technology has been exchanged for so many years, with little effect.

  Electric vehicles are an emerging industry, and China has a chance to catch up, keep pace with international leading technologies, and even overtake in corners.

  Ensuring energy security is also a national strategy. It is impossible not to fail to see the opportunities brewing in the era of new energy vehicles.

  Look at it, I guess, the country will soon make up its mind to introduce policies to support the entrepreneurship of new energy vehicles, and may even give market subsidies to accelerate the promotion and popularization of new energy vehicles. "

  Deng Yuanyun smiled and said: “Even so, starting a new energy vehicle is a long journey. It has been six years since Tesla was founded, right? It still hasn’t created a car that truly shakes the industry and the market.”

  Xia Jingxing nodded slightly, then stared at Deng Yuanyun and said: “That’s why we should make the layout earlier. Fuxing Auto can avoid part of the tortuous road that Tesla has traveled, but there are many unavoidable.

  Start research and development early, and when the policy boots land, our car is just built. This is not to catch up with the wind, but the wind to chase us. "

  Deng Yuanyun smiled, "Okay, you can really spend a year or two to build a prototype car to see. When it comes to mass production, it will take three to four years.

  In this way, it is not too early for Fuxing Automobile to enter the game. "

  Xia Jingxing said: “CATL was established more than a year ago, and battery research and development is in full swing.

  Atieva is based in Silicon Valley and can absorb the best talents in the world.

  Fuxing Motors cooperates with these two companies to build cars, which can save some time, but compared with Tesla, it is still a lot behind, and we must catch up! "

  Deng Yuanyun nodded slightly. At the same time, he had a question in his heart for a long time. He couldn't help but ask: "Then Mr. Xia, if we do this, don't we become a competitor with Tesla?"

  "It's not an opponent, it's a partner! Tesla alone cannot accomplish the long-term goal of eliminating fuel vehicles. Only when more new energy car companies join can we accomplish this feat together.

  When the time is right, Tesla will open patents and charging networks. "

  Deng Yuanyun was taken aback for a moment, "It's free?"

  Xia Jingxing smiled and added: "It's the most expensive!"

  Deng Yuanyun did not speak, silently digesting the countless information contained in this sentence.

  …………

  …………

  After Christmas with Christina and her son, Xia Jingxing arrived in New York on the last day of 2007 by private jet.

  Get off the plane and head straight to Wall Street.

  In the top-level office of the No. 40 Wall Street Building, Xia Jingxing listened to the work reports of several executives including Jiang Ping, Liu Hai, and Abe.

  "CDS assets have all been liquidated, profitable..."

   Liu Hai paused, looked at Xia Jingxing with a smile, and deliberately sold Guanzi, "Guess!"

   Hearing this, Jiang Ping and Abel both chuckled lightly, and then they turned their eyes to the boss, and they were very curious about the boss's reaction.

  Xia Jingxing took a sip of the coffee calmly, then put down the cup and shrugged his shoulders and said: “From the emails you sent me before, I guess it won’t be more than ten times profitable. That’s not a lot, is it like this?”

   Liu Hai smiled and said: “It’s been a lot. Soros’ Quantum Fund has been in operation for decades, and the figure earned is only 30 billion U.S. dollars.”

   "Have we earned so much?" Xia Jingxing changed to a more comfortable posture and gently leaned her back on the chair.

   "Almost close!"

   Liu Hai shook his fingers and counted: “The average return on the two funds managed by Jiang Ping and I, as well as the eight Margin funds, is 735%. The initial principal of 1.5 billion US dollars has now become 11.25 billion US dollars.”

  Speaking of this, Liu Hai paused, and deliberately looked at Xia Jingxing’s face, but the latter was expressionless, as if it was only $110.25, which was calm and horrible.

   "The 100 million US dollars invested later, the rate of return is slightly lower, only 430%."

  Xia Jingxing nodded slightly. The one-million-dollar dollar was collected by the little dog selling CDO assets and real estate. The investment time is later, and the profit is relatively reduced.

   But it is still very good, not only helped the little dog to fill in the loss, and even have a surplus.

  Of course, according to industry rules, 35% of the excess income belongs to Vision Capital.

  In addition, China Investment Group also injected 1.5 billion US dollars in capital, but because the capital injection was too late, it did not catch up with the good time to invest in the CDS market.

  After listening to the report, Xia Jingxing frowned. This yield is still not as good as my big A shares.

  Mango seed fund invested 1 billion yuan in the A-share market, and as a result, it made 13.5 billion yuan, with a yield of more than ten times.

  Noting that Xia Jingxing was frowning again, Liu Hai was slightly surprised, not satisfied with this?

   So he quickly explained: "We have too much capital. It is already very good to achieve this rate of return. It is too difficult to replicate the 60 times rate of return of the Lixia No. 1 Fund."

  Xia Jingxing smiled and waved his hand, “I’m not dissatisfied. I’m quite satisfied. After all, it’s the US dollar and the currency unit is different.”

  "What's the situation with Claire Capital and Paulson Fund?"

  Xia Jingxing did not forget these two funds. This time he shorted the subprime loans and divided countless paths. These two were the main force of the main force.

  "Clary Capital, like us, emptied all CDS assets. 1.5 billion US dollars became 10.6 billion US dollars, with a return rate of about 706%.

  At present, the fund is being liquidated, and the funds will be remitted to us one after another. "

  Xia Jingxing nodded slightly, the US$1.5 billion handed over to Clarion Capital to take care of was entirely his own, while the US$1.5 billion managed by Envision Capital was raised from outside.

  The reason for this arrangement is also to consider that if there are censorships and other troubles in the future, a group of wealthy and powerful LPs in the United States can be brought together to block the knife.

  "The Paulson Fund’s rate of return is 590%."

  As soon as Liu Hai's voice fell, Xia Jingxing looked surprised and said: "No way, Paulson is such a dish?"

   Liu Hai smiled and added: "It's the after-fee rate of return."

Xia Jingxing pointed out that after deducting the 20% excess income share and the management fee, the return rate is 590%, then the pre-fee return rate of the Paulson Fund should be more than 700%, which is similar to the performance of several of their funds. Spotting.

  He pledged 400 million US dollars of the building under his feet to Paulson, which means that 2.36 billion US dollars can be recovered.

  After sending the balance of the building to Ivanka’s father, there are still more than one billion dollars left, as well as a building.

  Even though the building at my feet has depreciated a lot with the collapse of the real estate market, adding it together, it has more than 2 billion US dollars in profit.

  Prostitution for 2 billion US dollars, which made Xia Jingxing feel happy.

  In addition, for this part of the short-selling part of Envision Capital, after deducting the $1.5 billion invested by LP, the actual short-selling profit is about 9.5 billion U.S. dollars, and they can share 35% of the excess income, which is about 3.3 billion U.S. dollars.

  The special investment fund established for Little Dog can also get the excess income divided into more than 100 million U.S. dollars.

Claire Capital followed Envision Capital to short subprime loans, and also made a lot of money. Peter Thiel said that he could dispense with all the expenses of the escrow fund, and the 10.6 billion US dollars could be taken away. The principal was 1.5 billion US dollars and the actual profit was 9.1 billion US dollars.

  Xia Jingxing did a simple calculation, and found that he didn't make much. He didn't even make enough money for launching two IC industry funds.

  Looking at the boss who was in deep thought, not only Liu Hai, but Jiang Ping and Abel didn’t even know what to say.

  Jiang Ping reminded in a low voice: “If all of these profits are collected in the Vision Capital account, plus several other hedge funds we currently manage, we will be among the top ten hedge funds in the world.”

   Liu Hai quickly agreed: "Yes, even Paulson Fund has rushed to the top five in the world this time. If we announce the results, it will be more than one of the top ten in the world. It will be called Banqiao Water Fund."

  Xia Jingxing smiled, and gradually relieved that he was still too greedy, and he was secretly engaged in it. The benefits are actually pretty good.

"That's right, this is only the performance in 2007. There will be a lot of investment opportunities next year. We will not sneak into the village this time. We want to show our momentum and advance into the top ten, top five, top three in the world. forward……"

  Xia Jingxing wanted to talk about the previous one, but the gap between them and the Qiaoshui Fund is too great. He changed his words: "In the next few years, they will definitely catch up with Qiaoshui and De Shao."

   Seeing the boss who finally showed a smile, Liu Hai and Jiang Ping also laughed. This reaction was normal. They almost thought that the boss was not interested in money anymore.

  Abel also smiled. Suddenly he remembered something, his smile suddenly stagnated, and said untimely, "However, there are some bad voices on the market."

  (End of this chapter)