Chapter 576 Year-end meeting (seeking monthly ticket)

   Approaching the end of the year, Xia Jingxing called all the senior executives of Envision Capital China to Beijing, preparing to hold a year-end summary meeting.

  In the conference room on the 36th floor of China Merchants Building, Xia Jingxing was dressed in a formal suit and her hair style was carefully managed. Sitting in the first place, she looked heroic.

  In his left and right hands, there were two rows of executives sitting in a row, all dressed in formal wear, with their backs hit straight, and the scene was solemn.

  The morning sun in winter, spilled into the meeting room through the floor-to-ceiling windows, slightly diminishing the sense of solemnity.

   "Don't be nervous, everyone, relax."

  Xia Jingxing smiled, turned his gaze to the executives sitting on the left and right, scanned everyone's face, and slowly said: “Envision Capital entered the Chinese market in August last year, and it has been in operation for almost half a year now.

  In the past six months, we have grown out of nothing and set up a vision business incubator, a VC fund Jingzhe, a PE fund Bailu, a securities investment fund, a mobile phone industry M&A fund, a film and television copyright fund, and a fund of funds. "

  Every time Xia Jingxing reported the name of a fund, his gaze swept across the faces of the partners who managed the fund.

   Andrew, Fu Jixun, Li Ying, Zhao Jun, Deng Yuanrong, Zhang Zhao, Abel and other seven people, each has a different expression, some are indifferent, some are worried, and some are smiling.

  Tong Shijie from Axel China and Zhang Sanshi from Gao Ling Capital, neither of them came to the meeting.

  Because these two institutions are not affiliated with Envision Capital in terms of ownership.

  Although Chushu Fund is the LP of the two institutions, and even the only LP of Axel China, in terms of the shareholding structure, everyone is not affiliated with each other.

  Tong Shijie has a closer relationship with Vision Capital, and he needs to often report secretly to Xia Jingxing, the owner and boss behind the scenes.

  As for Zhang Sanshi, it is all just a cooperative relationship. You only need to report to Abel, who is in charge of the Shu Fund, about the operation of the fund from time to time. The contact between everyone is relatively loose.

   Putting aside these two peripheral personnel and peripheral funds, the 7 people present today and the 7 funds they manage are considered to be the core lineage of Envision Capital China.

   In the face of his affiliation, Xia Jingxing has nothing to do with politeness. Simply read the opening remarks and let everyone start reporting on their work.

  Andrew’s first report: “At present, the Envision Business Incubator has been located in Zhongguancun, and the 3000 square meter office space is being arranged for decoration.

After the decoration is completed, it is estimated that it can accommodate 20-30 entrepreneurial teams.

  At the same time, we are gradually recruiting and improving the legal, financial, entrepreneurial mentor and other functional positions that match the incubator. "

  Xia Jingxing nodded, this fat man is still very efficient, and the incubator plan is advancing very quickly.

   "By the way, didn't you last time you said that you found a dozen college student entrepreneurial teams? Did they move to Beijing? The incubator is still being renovated. If they come, where will they work?"

   Andrew chuckled, "Time is waiting for no one, I have told them all to come to the capital.

  The incubator hadn't been decorated yet, so I rented them a few private houses for two to three months. After the incubator was ready, I would officially move in.

  On weekdays, I also go to see them, talk to them about business plans, and see the results of their work. "

  Xia Jingxing nodded, "Okay, after a while, I will also go with you to see these young dreamers."

   "OK."

  Andrew smiled. He likes this job very much. After dealing with young people for a long time, he feels that he is also younger.

  Fujixun’s second report job, Jingzhe Fund holds more projects than incubators that have not officially opened yet.

  After briefly reporting the operation and development of Ganji, Tudou, Dianping, Gaode, Qihoo, Kangsheng Creative, Kugou, Xunlei, Xiangji and other enterprises, Fu Jixun focused on the car home.

   "Yesterday Li Xiang found me and said that Xue Manzi and Cai Wusheng these angel investors suddenly intervened and wanted to invest a sum of money. He was a little embarrassed and wanted to discuss with us and give them some investment shares."

   "Xue Manzi? The one from UTStarcom?"

  Xia Jingxing frowned, he knew this person, the second generation of red, a multiplayer sports enthusiast, a currency circle internet celebrity, a Marigo coin investor, a Cambodian real estate group leader...

  A complete speculator, Red Cannon also touts him as the "first person in angel investment in China", either without brainstorming or commercial mutual praise.

Investing in the battle of UTStarcom really made it become the gods of the first battle. In just a few years, the investment of 250,000 US dollars became 125 million US dollars, with a 500-fold return rate, setting the record of the highest return on investment by Chinese investors/Chinese in the early century. .

  At the beginning of the new century, it has also successively invested in projects such as 8848, Cai Wusheng’s 265 website, and Xueqiu Finance.

  After another, it floated completely.

A silver-haired man in his sixties who used a few chickens in his twenties was reported by the Chaoyang crowd, and was rushed by the police to catch him. He was also on the news network for three minutes and read Fulong to him. Chi Military Academy, buried in Babao Mountain, smeared.

  His nationality was changed to American nationality early, and he couldn't get mixed up, so he began to send silly investors to Cambodia real estate speculation platforms, and the leek roots were almost gone.

  Fu Jixun nodded, "Yes, it is him. UTStarcom made him a lot of money and became famous. Now he is a hot figure in the angel investment circle and entrepreneurial circle in China.

  Li Xiang has some personal relationships with him, so I want to save face and let him make a fortune. "

  Xia Jingxing's face quickly cooled down, "How much does Autohome intend to raise? What is the valuation?"

  Fu Jixun saw that the boss was angry, so he didn't dare to neglect, and quickly replied: "We are talking about financing 1.5 million US dollars and diluting 30% of the shares."

  Xia Jingxing thought for a while and said, “You tell Li Xiang like this: Envision Capital’s 30% equity share must be guaranteed. If you want to sell Xue Manzi’s favor, you can expand your financing share on the basis of this 30%."

  Fu Jixun smiled bitterly, “The angel round dilutes 30% of the equity, which is already a lot. If the scale of financing is expanded, the equity structure will deteriorate.

  Autohome is a wholly-owned subsidiary listed under the bubble network. Li Xiang holds 60% of the shares, and his other partner Fan Zheng holds 40%.

  I think...Well, to expand the scale of financing, Li should not be very willing to respond. "

  The other executives in attendance listened quietly, and did not interrupt the discussion between Xia Jingxing and Fu Jixun.

  Xia Jingxing looked at Fu Jixun with a smile, and said, “It depends on your strategy. Either persuade Li Xiang to expand the financing scale, or kick me out of those stinky fish and shrimps.”

  Fu Jixun was stunned at first, and then laughed. Compared with their Vision Capital, those few really can only be regarded as stinky fish and prawns.

  What about Xue Manzi, the boss has invested in Scape and Frame Media, any investment case is enough to slap him, let alone the capital strength behind it.

  After such a small episode, Fu Jixun continued to report: “At present, the US$150 million raised by Jingzhe Fund has invested US$72.2 million, and a total of 9 companies have been invested.

  If we continue to follow the current investment rhythm, we will completely invest our funds this year.

  At that time, either shift the focus of work to post-investment management, or raise the second phase of funds. "

   "Okay, I see. You don't need to deliberately control the investment rhythm. If you see a good company, don't hesitate to start immediately."

  Xia Jingxing paused, and then said: “As for the capital, you don’t have to worry about it. When the second phase of the fund is raised, I will naturally have arrangements.”

  Fu Jixun nodded with a smile, and said no more.

  Following such a boss, there is an unlimited supply of bullets, money is never a matter, there is nothing else to say, and it’s done!

  The third reporting job is Li Ying. She brushed the hair on her forehead behind her ears and reported with a document: “At present, the Bailu Fund has invested in three companies, Penguin, Supor, and Leihuo Lighting.

  Recently, Penguin’s stock price has been trending well, fluctuating between 10 and 10.5 Hong Kong dollars. Our book loss has narrowed significantly. It may not be long before the loss can be completely wiped out. "

  Hearing this, the surrounding executives were all interested.

  The company's investment in Penguin has almost become the laughing stock of the investment circle.

  Even when they go out for meetings and participate in some activities, they will make fun of it when they meet them.

  They dare not have any opinion on Xia Jingxing, but they also feel that this matter is not so beautifully done.

  Now that the losses are about to be wiped out, that is really good news.

  Thinking of this, and reminiscing about the pitiful penguin stocks, they seemed to have a sense of it, and the look in Xia Jingxing's eyes was instantly different.

  Be far-sighted! Must be far-sighted!

  Xia Jingxing also noticed the strange eyes cast by the executives, and did not explain.

  In fact, Penguin’s investment logic was only explained to Li Ying, who is in charge of the Bailu Fund.

  As for other subordinates, the boss still needs to explain to you when doing things?

   Therefore, it is inevitable that other executives will not understand.

  Now that Penguin’s stock price has rebounded so much, the answer is self-evident whether the investment is correct or not.

  Looking at the strange eyes of other colleagues, Li Ying explained a few more words, which was also explained to Xia Jingxing.

"I have also carefully analyzed the reasons for the stock price rise. Penguin's game business is developing very well. After a while after the annual report is released, there should be a wave of gains. The fund's book loss can really be wiped out. draw."

  Xia Jingxing nodded, smiled and said, "Okay, Penguin's stock is a long-term value investment, so leave it alone for the time being."

  (End of this chapter)