Located in the conference room on the 49th floor of the Xiangjiang International Financial Center Phase 2 Building, the fund managers and partners of Lam Capital gathered together.
Lin Fan sat at the top of the long conference table.
On his left hand side are Ricky, the manager of the three VC funds Lichun, Yuyu, and Vernal Equinox, Liqiu the PE fund, Abel the summer manager of the FOF, Jiang Ping the manager of the hedge fund Xiaoman, and Liu Hai the manager of Lixia.
On his right side are Fu Jixun, the manager of VC fund Jingzhe, Li Ying, the manager of PE fund Bailu, Deng Yuanjun of mobile phone industry M&A fund, Zhang Zhao of film and television copyright fund, and Tong Shijie of Axel China Fund.
It can be seen from the seating arrangement that most of the US funds are on the left hand side, and all Chinese funds are on the right hand side.
The exception is the Chushu Fund, which is deployed in Hong Kong; Xiaoman Fund, run by Jiang Ping, also invests in Asian markets, including Hong Kong stocks.
Andrew didn't lean on either side, sitting opposite Lin Fan, directly under the long conference table.
In front of everyone's seat, there is also a meeting card with the name and fund written on it, so that everyone can remember each other.
The sign in front of Andrew reads: Prospeess Incubator, PBI for short.
Looking at the ten people in front of him and the corresponding fourteen funds, Lin Fan nodded with satisfaction.
He opened his mouth and said: "I just introduced everyone to us officially, so I won't talk too much and go straight to the topic."
"Duck neck!"
After hearing the boss's order, Abel quickly stood up, picked up a document, nodded to his colleagues around him, and started reporting.
"...the Summer Enduring Fund has a total scale of 1.746 billion US dollars, with 500 million invested in mobile phone companies, 250 million in mobile phone industry mergers and acquisitions funds, 100 million in Vernal Equinox, 200 million in Jingzhe, 500 million in Bailu, 100 million in Axel China, 16 million in copyright funds, and Vision
In the entrepreneurial incubator, two seed funds in the United States each hold 10 million yuan, holding cash and eaby, and Focus Media stocks total 060 million yuan, and the above currency units are all in US dollars.”
After reporting on the asset portfolio, management scale, etc. of the other funds, Yabo finally reported on the fund he is in charge of, which is currently the largest fund of Lin Capital.
Everyone listened attentively.
People like Fu Jixun, Li Ying, Zhang Zhao and others were secretly shocked. Unknowingly, Lin Capital had invested in so many Chinese and American technology companies, and many of them held very high shareholding ratios.
.
For example: Android holds a total of 90% of the shares, Tesla holds a total of 49.21%, Lilith 52.8%, Ganji 32.5%, Tudou 33.33%...
"Now, please do the math, what is the total asset management scale of our Lin Capital?" m.huαんúＡㅢ三.
Yabo, who stood up and was taking inventory of his family property, smiled and asked humorously.
Who the hell knows this? Everyone complained in their hearts.
"4.021 billion US dollars!" Jiang Pingdan smiled.
His opening immediately attracted everyone's attention.
Yabo lowered his head and glanced at the summary figures on the document. They were absolutely correct.
"Peter, you Chinese are so good at math. I just reported so many numbers, and you can actually sum them up verbally."
The most outrageous thing is that you are actually right! This is truly an unenviable talent."
As Yabo spoke, he shook his head and sighed, as if he was annoyed that he didn't have such a good brain.
Jiang Ping smiled. He was usually very low-key and really didn't mean to show off.
In any case, Jiang Ping showed such a skill, which immediately made everyone look at him with admiration.
Lin Fan also glanced at Jiang Ping several times. Especially the opponent's most powerful brain was the focus of his attention. Why didn't his hair fall out?
It seems that the work is still too easy and requires more responsibilities.
The black-hearted capitalists are already thinking in their minds about how to exploit them.
At this time, Jiang Ping had also gotten over the discomfort and shadow he had felt when he first started running the fund. Xiaoman Fund had turned a profit, not only making back the loss of 7 to 8 million US dollars, but also making a net profit of more than 20 million US dollars.
All in all, he is in very good condition and is worthy of the transfer signing fee of US$12 million.
Among those present, Tong Shijie is an exception, because in terms of ownership division, Axel China and Lin Capital are two independent institutions.
However, all the US$100 million of Axel China AMC Fund I was transferred to them from the offshore bank account of Chuxia Fund.
At the same time, Axel China also signed a series of complex fund management agreements with Chushu Fund.
At the same time, Axel Huaxia's company registered in the Cayman Islands penetrated many layers of vests and found that the ultimate beneficiary was Lin Fan.
Therefore, Tong Shihao also came to attend the meeting.
Considering the need for confidentiality, everyone present today has signed a confidentiality agreement, a very strict one, from the moment they joined the company.
Bill Gates' waterfall investment is even more exaggerated. Even after employees leave the company, the confidentiality agreement remains in effect.
As Bill Gates' private family office, Waterfall Investments also discourages employees from using social networks, such as Facebook and Twitter, and also restricts employees from sending emails to outsiders to maximize the protection of property privacy.
What is even more exaggerated is that the U.S. SEC has also granted Waterfall the right to keep investment documents confidential, without having to disclose asset portfolios, equity changes, etc. to the outside world.
Lin Fan has always been on par with Gates!
Tong Shijie's mood was a bit complicated. He had flown to the United States to meet with Breyer some time ago, and the two parties also signed a brand cooperation agreement.
From what I learned from Breyer and what I heard here today, Tong Shijie basically knows the role of Axel Huaxia, which is to be the shadow hidden in the dark of Lin Capital, and it needs to be hidden very deep.
deep.
When Lin Fan heard the figure of 4.021 billion U.S. dollars, he was not too happy or surprised, because he had read the asset evaluation and inventory as soon as it came out, and he was a little disappointed.
It invested US$700 million in Ali, accounting for 23% of the shares, and Lin Capital internally evaluated it at US$920 million.
Because Ali has announced a valuation of US$4 billion, the media and major investment institutions have also recognized this valuation.
However, if all the water is squeezed out, there is still a real amount of 30 billion US dollars.
Lin Fan gestured to Abel to sit down, then glanced at the fund managers sitting on both sides of him.
"Next, I will emphasize the investment areas and strategies of each fund."
When the boss recruited them, he said there would be no restrictions on investment areas or exit time...
But if you take it completely seriously, then you really don’t have any social experience. After all, there is a saying that goes, “The boss’s mouth is a liar.”
Looking at the fund managers and partners sitting at attention, Lin Fan smiled and said, "Everyone, please relax. I said I would give everyone the greatest autonomy in decision-making, and I will never break my promise."
After a pause, Lin Fan added: "But, Lin Capital has now begun to take shape, with offices and teams in both China and America, and the investment chain covers a company from its birth, to development, to listing.
and the entire life cycle beyond.
If each of its funds continues to work independently, it will be difficult not only to unleash our full strength, but also to bring Lam Capital to a more glorious stage."
Everyone looked at Lin Fan, waiting for his last words.
Facing everyone's gaze, Lin Fan said calmly, "So, we must pay attention to strategy, cooperation, and strategic coordination. For example, Ricky..."
Hearing the boss suddenly call his name, Ricky quickly looked at Lin Fan intently, his upper body straightened.
Lin Fan looked at Ricky with a smile and said: "Ricky, you are in charge of three VC funds in the United States. If you discover a good company, Yelp, they come up with a good idea and move the restaurant to the Internet.
Then, you invested in them with any of the three funds: Lichun, Rainwater, and Vernal Equinox, and wrote Yelp's profile and business model in your recent work report.
This work report has been sent to our intranet, Fu Jixun..."
Lin Fan looked at Fu Jixun and continued: "You, who are in China, saw this report and felt a lot, and started looking for similar companies in China. Finally, you found Fu Jixun in a simple office in Shanghai.
Dianping, which is struggling to operate..."
Lin Fan glanced at everyone, "Does everyone understand? This is just a preliminary example of Lin's capital resource integration."
Fu Jixun nodded, "Mr. Lin, do you mean that our Chinese team and the American team need to share information to facilitate quick project exploration?"
"That's right, not only are American colleagues sharing information with you, but you also need to share some good opportunities with American colleagues about the business models discovered by the Chinese team."
As soon as Lin Fan finished speaking, Ricky frowned. He felt that his own team should be the main contributor, as China Internet was copied from the United States.
Lin Fan saw Ricky's little thought at a glance and said calmly: "In the early stage, the American team may have to work harder and pay more.
But as long as China’s Internet develops, it is possible that the Chinese team will export experience to the American team.”
"Mr. Lin, are you kidding?"
Hearing this, not only Ricky laughed, but everyone else also laughed, feeling that the boss was making an international joke again.
"We're not going to argue about this today."
Lin Fan shrugged, "Let's just talk about China. With a population of 1.3 billion, the Internet population will definitely surpass that of the United States in the future. Do you agree with this view?"
Everyone nodded. After paying a little attention to the development report of China Internet, it was easy to draw a conclusion. The boss was telling the truth, and there was no lie.
"As the Internet population increases, and China's engineer dividends increase, think about it, will the Chinese market develop more tricks in the application of the Internet?"
The boss’s point of view is quite novel!
Everyone lowered their heads, thinking and deliberating carefully.
Lin Fan continued: "In addition to sharing resources on the intranet and helping each other with pre-investment project screening, the Huami VC team can also cooperate in post-investment services.
Take Yelp and Dianping as an example, we can definitely introduce the teams of both parties to get to know each other, and even visit each other's companies to inspect and learn a thing or two."
Ricky then said, "Mr. Lin, arrange for potential competitors to meet and learn. If we do this, will some entrepreneurs not appreciate it? Instead, they think we have ulterior motives."
"This situation is not ruled out. It is all voluntary and not forced. In addition, you must also play the role of investors and do more ideological work.
For example, Yelp is developing better, faster, and larger in scale, but it cannot expand into the Chinese market for a while. You can invest in Dianping and become a shareholder of Dianping.
There are so many countries in the world and such big markets. Some markets cannot be fully occupied. Making a strategic investment to seek synergy in business, or simply being optimistic about this industry and treating it as a financial investment, is actually a good solution.
plan."
After saying that, Lin Fan was ready to give everyone more motivation and announced: "I decided to set up a "cooperation bonus". For example, Ricky and you helped the Huaxia team discover Dianping. When this project exits, the China Foundation will start from
A portion of the dividends will be awarded to the American team.
This is an additional reward, and I will take a commission from the part that belongs to me. The reward that the fund team will receive will only be more than the original, not less."
Lin Fan turned to look at Fu Jixun, "The same goes for the Chinese team. If you help the American team, you will also get generous rewards."
If two unrelated teams want to sincerely help each other, there is only naked interest.
Lin Fan has a very clear understanding of these people's hearts.
Similarly, if the two funds discover more good projects or help the projects go further, it means more money for him, the real big boss.
Hearing that there was a "bonus", Ricky immediately felt like he was on the receiving end of a fight and started asking questions, including how to set up an intranet, how to share information with the Huaxia team, etc.
People, this is such a reality!
Lin Fan didn't take offense at all. As long as he worked steadily, he would never begrudge the reward.
"For the VC funds of Huami and Mi, I will not limit the investment industry or investment area. Everything is aimed at creating more financial returns."
Facing Lin Fan's gaze, Fu Jixun and Ricky nodded together.
After explaining a few more words, Lin Fan looked at Jiang Ping and Liu Hai.
"Xiaoman Fund and Lixia Fund, most of your two funds are externally funded. I have no other requirements for the time being. Pursuing profits and creating higher returns is the first goal."
Jiang Ping and Liu Hai both nodded.
Lin Fan looked at Jiang Ping and asked, "Peter, are you almost used to the operations of Xiaoman Fund now?"
Jiang Ping nodded, "No problem. In addition to the dozen mainland Chinese students I brought, we have recruited a dozen more good players, and now the team has a total of thirty people.
Next, we will subdivide the team into investment research, stocks, foreign exchange, Asian emerging markets and other teams.
Oh, by the way, in addition to opening an office in Xiangjiang, we also plan to open an office in New York. In addition to recruiting talents nearby, we can also most intuitively experience the atmosphere of trading."
"Okay, I have no objection!"
Lin Fan nodded. It was easier to manage the company by concentrating it in Silicon Valley.
Now that others have been staying in China for a long time, they no longer have any geographical requirements, whether they are on the west coast or the east coast.
"We'd better stay in Silicon Valley so that we can easily recruit technology talents."
Liu Hai said with a smile: "We have recently recruited a group of people and are already trying to build a trading model."
Lin Fan nodded, "That's good, let's not stop on the path of pursuing technological solutions to empower traditional finance.
In addition, I will not take away all the profits from the Lixia Fund, and will always leave them to your team for technology investment."
After talking to Jiang Ping and Liu Hai for about half an hour, Lin Fan looked at Yabo and Li Ying.
