My Age of Investment

"Mr. Xia, I don't care what strategy you use, nor how many fund shares you subscribe. I only care, if I subscribe to your fund, can I make money?"

A middle-aged Chinese man in his fifties with a Mediterranean hairstyle looked at Xia Jingxing with a smile on his face and glanced left and right: "I believe everyone thinks the same as me, right?"

Others immediately echoed: "Yes, yes~"

Xia Jingxing frowned, and soon stretched it out again, with a faint smile: "I cannot guarantee the rate of return!

In fact, no hedge fund dares to give clients a guarantee of how much they can make.

Investing is a risky thing, and there is no reason to make sure you don't lose. "

The group of Chinese in front of him, he has also understood, are either opening Chinese restaurants or doing business, and they all have one thing in common—the culture is not too high.

In fact, Chinese Americans need to put in more effort than whites and blacks if they want to go to American universities, because many universities have racial ratio admission restrictions.

Not to mention white people, black people often make trouble, and they have also increased the admission ratio.

Only Asians can knead as much as they want.

Because these people are not highly educated, they may have only speculated in U.S. stocks and never bought private equity funds or hedge funds, so Xia Jingxing patiently explained to these people.

Other white fund managers may turn around and leave when they hear these people in front of them say such things.

He can't, because he can make more money because he invests more.

It’s okay to explain a few more words. After all, starting a business is not easy. Giving others opportunities is also giving yourself opportunities.

The Mediterranean-haired man smiled and said: "I've seen reports that Renaissance's Medallion Fund has had a cumulative return of 25 times over 11 years.

There are past achievements there, even if they do not promise how much rate of return they will give their clients, they are more assured to put their money in the hands of such a well-known fund.

Mr. Xia, you have to show us, how can we trust you and believe that you can make money for us? "

Liu Jinhang smiled embarrassingly, Chinese and Chinese people have always been conservative.

Even if you have money, you will use it more to open shops, buy land and properties, and invest in some traditional businesses.

Firstrade has also tried to cooperate with private equity funds before, trying to help private equity funds raise funds from Chinese investors.

But the effect is not very good!

Many Chinese people are too conservative, and don’t feel comfortable giving money to private equity funds.

In fact, private equity funds, like most industries, follow the rule of 28. 20% of the top funds make money, and 80% of the funds lose money.

Some Chinese have suffered losses in private equity funds, and even the entire Chinese circle does not trust private equity funds so much.

Xia Jingxing said with a smile, "The return rate of the Medallion Fund is amazing, it's true!

But do you know what their threshold is?

Ten million, or one hundred million!

The annual fund management fee is 5%, and the profit sharing ratio is 36%. "

The men with the Mediterranean hairstyle stopped talking. According to their net worth, they could not afford the funds issued by the Renaissance.

People are all playing with the rich and the super rich, and these little rich people don't look down on them at all.

Xia Jingxing was not aggressive, he glanced at the people around him, and continued, "Mr. Liu has already introduced it, I can use 50,000 US dollars to earn 25 million US dollars in one and a half years.

It's not just pure luck! "

Xia Jingxing pointed to his eyes, "It's here, it's vision!"

"There is no evidence to say, 25 million US dollars, we have to see it!"

The middle-aged Mediterranean man didn't say any more, but the meaning was clear enough, and he felt it was a bit exaggerated and unrealistic.

Liu Jinhang glanced at the middle-aged Mediterranean man displeased, and said with a serious expression: "I can prove for Mr. Xia that all this is true. The account opened by Mr. Xia in Firstrade also uses our financing services. "

Xia Jingxing said: "If someone wants to know more later, I can show him my securities account, which contains very detailed investment records.

Whether it is true or not, it is clear at a glance. "

"Mr. Xia, hedge funds involve a larger amount of funds, and buying and selling is more complicated. This is not as flexible as personal investment."

In the crowd, a middle-aged man with a mustache looked at Xia Jingxing.

"It is indeed not as flexible as a small amount of capital."

Xia Jing's words changed, "However, with the support services provided by industry research and technical departments, and if they operate properly, more investment opportunities can be found.

And compared with personal investment, hedge funds can use more means, including financial leverage, margin financing and securities lending, and more. "

The mustache man nodded and didn't ask any more questions.

Someone in the crowd asked: "Mr. Xia, do you really want to subscribe for 20% of the fund shares? If it is true, I am willing to invest one million."

Xia Jingxing replied: "Of course it's true, everyone has to sign the agreement, if I fail to fulfill the obligation of capital contribution, everyone can hold me legally responsible.

At present, Firstrade and the Stanford University Foundation have agreed to each subscribe for US$10 million of Lixia Fund shares.

If everyone subscribes for another $10 million, I personally make up the remaining $7.5 million.

A total of $37.5 million, of which I personally contributed $7.5 million, 20%. "

In the crowd, many people nodded their heads, all agreeing with this approach.

The middle-aged Mediterranean man suddenly jumped out again: "I have a question."

Xia Jing Xing said in his heart, are you bothered, are you here to smash the scene?

But he still put on a generous look on his face, and said with a smile: "Please say it!"

"Mr. Xia, you have 25 million securities assets, why don't you invest all of them in the Lixia Fund?

As long as you contribute half of this fund, I can rest assured that you can invest one million. "

After finishing speaking, the middle-aged Mediterranean man looked at Xia Jingxing with a smile on his face.

He didn't mean to mess up, he just wanted to add some insurance to his investment.

If Xia Jingxing subscribed for half of the fund shares, he really dared to invest, not just talking about it.

Many people present lit up, this is a good idea, they all looked at Xia Jingxing, wanting to hear what he had to say.

"Sir, is one million all your assets?"

The Mediterranean man shook his head and laughed, "Of course not."

Xia Jingxing continued: "Like everyone, I also have other industries and other capital needs, so it is naturally impossible to invest all my cash assets into the fund.

It is not that there is no confidence in the operation of this fund, but that there are other arrangements.

20% of the subscription ratio is not too small, and for me, it is not a small sum of money.

I don't joke about my own money!

Similarly, this is the first fund of Vision Capital, and it will not make jokes about the company's future and reputation. "

In the crowd, everyone's expressions were different, some understood, some questioned.

From the point of view of doubters, he naturally hoped that Xia Jingxing would invest more in this fund, the better. In this way, for the sake of his own assets, Xia Jingxing can also operate the fund more diligently, and they can also follow behind to make money.

What should be said, Xia Jingxing said, he directly asked Liu Hai, who was standing next to him, to start collecting customer intentions.

If you are willing to learn more, leave a business card and discuss in detail later.

If you don't want to know, just skip it.

Unexpectedly, the middle-aged Mediterranean man actually handed a business card to Liu Hai.

Then, the middle-aged Mediterranean man walked towards Xia Jingxing and Liu Jinhang who were watching the seascape in the distance.

As soon as he came over, Mediterranean began to apologize: "Sorry! Mr. Xia, I may have a lot of questions, mainly because I have never invested in this kind of private equity fund before.

Exchange good books, pay attention to the vx public account. [Book Fan Base]. Follow now and get cash red envelopes!

On the contrary, a friend of mine invested in it. He said that even one-tenth of the principal was not recovered.

Please don't mind!

There is an old saying that goes: the one who hates the goods is the one who buys them.

You can ask Manager Liu to come to me with a securities account next. As long as you confirm that "$50,000 has become $25 million in one and a half years" is true, I will definitely buy your fund.

And not only bought 1 million, I bought 2 million. "

After speaking, the Mediterranean man walked away.

"interesting!"

Liu Jinhang smiled and said to Xia Jingxing, "This person runs a Chinese restaurant, and I usually ask him to buy some First Securities bonds and mutual funds.

I didn't expect you to be persuaded, and the first shot was $2 million. "

Xia Jingxing thought for a while, then shook his head and laughed.

In his eyes, the other party's originally ugly Mediterranean hairstyle also became cute at this time.

Man, it's so real!

…………

…………

Half of the dozen or so high-net-worth clients introduced by Liu Jinhang to Xia Jingxing, that is, seven people expressed their intention to subscribe.

For the next work, Xia Jingxing gave Liu Hai full authority.

With the "Partner Agreement" and related subsidiary agreements, Liu Hai visited these prospective clients one by one.

Witnessed by the lawyers hired by the clients, Liu Hai signed relevant agreements with these clients on behalf of the company.

The content of the agreement mainly includes: the investment objectives, strategies and risk factors of the fund; the status and rights of general partners and limited partners; whether to allow the use of financial leverage and proportional restrictions...

The agreement has relatively broad restrictions on the general partner's fund investment objectives, so that the fund manager has sufficient flexibility to conduct investment operations and ensure that investment activities can be carried out smoothly.

The status of general partners and limited partners and whether the use of financial leverage is allowed must be clarified.

Because Lixia Fund is a hedge fund with a stock investment nature, its financial leverage is limited and cannot exceed 20 times leverage.

Like hedge funds that mainly play futures and foreign exchange, the leverage limit can be loosened to a hundred times, a few hundred times.

…………

…………

Vision Capital leased a 200-square-meter office in Silicon Valley close to Facebook.

Looking at the big signs of "Prospect Capital" hanging on the front desk of the office, Liu Hai was very excited.

Although the office area is not large and there are no employees, in his eyes, this is a new starting point for his life and career, which makes him feel a sense of heroism.

He turned his head and asked Xia Jingxing who was standing beside him, "Jingxing, now that the company has been established and the office has been rented, when will we start to show off our strengths?"

Xia Jingxing waved his hand, "No hurry, what we need to do now is to build the team frame first.

What's more, the fund is still in the external fundraising period. After three months, we will start investing again after the hesitation period has passed. "

The reason why such a long hesitation period was set was mainly because Xia Jingxing's funds were not yet in place.

Because of the one-year lock-up period for block trades, he won't be able to put money into the fund until early July.

Now, just wait.

Liu Hai calmed down, "Yes, let's take advantage of this time to recruit people in place, and officially start construction in three months."

"The scale of the Lixia Fund is only 35 million US dollars. Do you think it will be a little less?"

Stanford and First Securities each invested $10 million, seven retail investors invested a total of $8 million, Xia Jingxing personally invested $7 million, and the total size of the fund is 35 million.

Liu Hai said with a smile, "A lot! I know that in the United States, a quarter of private equity funds have total assets of less than $10 million.

They operate like a small workshop, usually in an office with only one or two people.

It does not set up its own research institutions and relies more on external research information resources. "

Xia Jingxing laughed, "We definitely can't do that. Do you know why I set the Vision Capital office in Silicon Valley instead of the financial district of San Francisco?"

Genius for a second to remember the address of this site: . Mobile version reading website: