My Age of Investment

  Chapter 384 The rain is full (seeking monthly ticket)

  "A company that has only been established for five months and has not launched any products, Darren, do you value it at 150 million US dollars?"

  In the office of Envision Capital, Ricky, one of the four founders of Android, is looking through Envision Capital’s VC fund investment portfolio, and vomiting while reading.

  The documents he held in his hands detailed the valuation, financing history, development situation, etc. of each invested company.

  He has read the information of Tesla, LinkedIn, Ganji, Tudou, Frame Media and other companies, and thinks it is reasonable.

  The only problem is the newly added workday company.

  What he thinks, this company is not worth 150 million US dollars.

  Xia Jingxing looked at Ricky with a smile, and didn't mind the other party's question too much.

After Andy Rubin conveyed his words, Ricky readily agreed to join Vision Capital.

  Today was the first day the other party came to report. As soon as he arrived at the company, he asked Xia Jingxing to show him the investment portfolio of Envision Capital.

  At this point, the other party just grabbed the company during working days.

   "Darren, while still making adjustments now, it's too late to regret it!"

   Putting the file on the table, Ricky said seriously.

  "Why do you want to go back? This company may not be worth 150 million US dollars at the moment, but it will definitely be worth it in the future. When we invest, don’t we invest in the future?"

  Xia Jingxing waved his hand, "Don't mention this company, I have my own intentions."

  Ricky frowned, "Dalun, you promised to manage a fund for me."

  "The Rainwater Fund is already in preparation, with an asset management scale of US$50 million."

   Speaking of this, Xia Jingxing still feels a little complicated.

  $1.025 billion in the transfer of Facebook’s equity, only $871.25 million is left after tax deduction.

  Among them, US$800 million was injected into Liqiu Fund, and US$100 million was spent on the acquisition and capital injection of Android;

   700 million US dollars left, after voting for Ari, there is almost only a fraction left.

   And the 70 million dollars he was going to keep in his hands to improve his material life, now he has also withdrawn 50 million to set up a rainwater fund.

  I can only say that I hate less when the money is used!

   "50 million U.S. dollars."

  Ricky muttered to himself. He felt that it was too small, so he asked: "Is this company included in the rainwater fund's investment portfolio on weekdays?"

"Yes!"

  Xia Jingxing nodded. Although it was all his personal funds, the Lichun Fund had already invested the funds on hand. In order to facilitate accounting and management, the second VC fund, Yushui, was formed.

  "Isn't there only 35 million dollars left?"

  Ricky is in a hurry. He knows that his boss has just cashed out one billion US dollars from Facebook, and his VC fund is only such a small scale, which makes him very embarrassed!

   So he said again: “Darren, if we only have such a small amount of capital, we are afraid we can only invest in angel rounds and small A rounds with a scale of less than three or five million US dollars, or follow-up.”

  Xia Jingxing heard the other party’s tone of sadness, and calmed down: “You don’t have to worry about funding, you just need to consider investing the 35 million US dollars as soon as possible.

  As long as all the funds are invested, we will directly raise the third VC fund, starting at least US$100 million. "

  Ricky does not doubt that Xia Jingxing has this strength. At present, the other party only allows him to control a fund of 50 million US dollars, and obviously he does not trust his ability enough.

  He knows that the management scale of Envision Capital's Liqiu Fund is as high as 800 million U.S. dollars, and the management scale of Xiaoman Fund is as high as hundreds of millions of U.S. dollars.

  Compared with hedge funds and PE funds, VC funds are not as large as their counterparts.

  However, VC funds do not need to be that large. The game is to use small ones to expand. The smaller the size of the fund, the more it demonstrates its ability.

  Ricky has made up his mind that he must make the boss look at him with admiration, and build the VC fund into a size comparable to the other two types of funds of Vision Capital.

  "The investment area of ​​the Rainwater Fund will be limited to the United States. After you take over, you only need to stare at the US market."

  Ricky wondered, "Why? I think many venture capitalists are now entering China, where the Internet and technology markets are very hot.

  In August alone, two Chinese technology companies, Focus Media and Baidu, are going to go public. "

  Xia Jingxing shook his head, “In the Chinese market, I will set up a local fund and recruit local talents in a while. If foreigners can't go there, you can do a good job in the US market.”

  Ricky didn’t ask any more. Now that the boss has arrangements, he should just focus on the US market, and save the need to travel across the Pacific Ocean.

   "Due diligence during the working day, you also join in, this company is counted in the rainwater fund's investment portfolio.

  You familiarize yourself with this company during the due diligence process, and provide them with post-investment services in the future. "

  Ricky nodded, he also wanted to see why this company is worth 150 million.

   ordered a few more tasks, Xia Jingxing told Ricky to retreat.

  After a while, there was a knock on the door.

   "Please come in!"

  Jiang Ping walked in wearing a blue T-shirt, smiled and asked, "Dalun, are you looking for me?"

  Xia Jingxing looked at the other party as a programmer dressed up, and didn't say much, as a trader, and didn't need to go out to meet customers, so naturally it was comfortable to wear.

"sit!"

Xia Jingxing pointed to the seat in front of the office desk.

   After Jiang Ping sat down, he hit his back straight and looked straight at Xia Jingxing.

  "Don't be nervous, just chat with you, nothing else."

  Xia Jingxing was a little cautious when seeing the other party, and didn't know what was going on. Remember this was not the case before?

  Jiang Ping smiled. Before joining Envision Capital, his mentality was completely different and he could look at Xia Jingxing.

  But now that Xia Jingxing has become the boss, his mentality has changed.

  When facing Xia Jingxing, I can never do the same nature as before.

  Xia Jingxing estimates that traditional cultural concepts are still at work, and the leader feels frustrated when he sees it.

  He doesn't say much about this, so as not to add psychological pressure to the other party.

   "The fundraising of Xiaoman Fund is almost over, right?"

After Jiang Ping joined Vision Capital, Xia Jingxing sent the other party out to participate in the fundraising process.

  It’s just that Jiang Ping went late, and the fundraising has come to an end.

  Fortune contributed by Tobill Gates, a large number of wealthy and institutional investors followed closely, and they should follow the richest man to make investments.

  These people are chasing ups and downs, and they think that even Bill Gates has to invest in Xiaoman Fund, that would definitely not be wrong.

  In addition, Xia Jingxing went to the TV station to show his face once, and inadvertently showed the rate of return of Lixia Fund, which added another fire to the hedge funds of Envision Capital.

  Multiple effects are superimposed, and the Xiaoman Fund with increased fees is raising faster than expected.

  Jiang Ping nodded, "Yes, it's over immediately, and then we are about to enter the closed period.

  Fundraising is too hot, and the total amount of intended investment exceeds one billion US dollars.

  For this, we had to reject some people’s investment.

  Of course, this has something to do with my limited ability. Otherwise, the Xiaoman Fund has a management scale of more than US$600 million. "

  Xia Jingxing nodded. At first, the Xiaoman Fund planned to raise 500 million US dollars, but he did not expect it to be too popular.

  Even if the profit share is as high as 30%, it cannot stop the enthusiasm of investors, and they must invest in them crying.

  It's not that I don't want to raise more, but Xia Jingxing is afraid that it will raise more, and Jiang Ping can't control it.

  Come slowly, it takes a growth process, Xia Jingxing comforts herself like this.

  "Trading strategy, I plan to focus on Latin American foreign exchange markets and Asian emerging stock markets..."

   When it comes to trading, Jiang Ping seems to have changed his personality in an instant, spitting and talking.

  The other party spoke too fast, and Xia Jingxing could not hear many vocabulary clearly.

  However, he did not rush to ask, he still fully trusted Jiang Ping's abilities.

  Furthermore, the fund and Jiang Ping are bundled. The profit share of the fund will be 20% as a bonus for the fund manager, so I am not afraid that the other party will not work hard.

  In addition, Jiang Ping decided to resign from Lehman. When he came to Envision Capital to report, Xia Jingxing also gave a meeting gift. The management expenses of the Xiaoman Fund in the first year were US$12 million.

  Jiang Ping is extremely grateful for Xia Jingxing’s courtesy and reuse, but also feels overwhelmed.

   "Well, I have brought a dozen students from mainland China to Lehman, can I recruit them to the company?"

  Xia Jingxing nodded, "Yes, you have the full power to make the team, and you can form it as you want."

   Jiang Ping smiled, chatted a few more words, got up and left to work.

  　 Thank you book friend Ru Wenlin for your reward!

  (End of this chapter)