Chapter 57 The Macro Shift in the Overall Investment Logic
Investors in the investment circle have more or less heard how Chen Yuanguang turned the huge crisis faced by the public opinion field into a huge turnaround, and turned a huge The story of regaining the initiative of valuable film and television IP in its own hands.
This matter involves too many elements. It can be said to be a classic case of business war. This group of people is very optimistic about Chen Yuanguang. He has technology, business acumen and clear decision-making judgment. For Chen Yuanguang’s company, even if there is not much If you introduce more, they will be willing to listen.
“Hongyi, why are you here?” Fang Huiyu, a partner of Materia Medica Capital, was a little surprised to see that it was Chen Hongyi from Qiming Venture Partners.
After Chen Yuanguang’s introduction, there was a short tea break. After the tea break, we continued. Only the representatives and service personnel of each company were left. Representatives who were familiar with each company gathered together. Talk softly.
Like Fang Huiyu, Chen Hongyi is also a partner of Qiming Venture Partners, but Qiming Venture Partners’ management capital is much larger than that of Materia Medica Capital. The management scale of Bencao Capital is RMB 4 billion, and the management scale of Qiming Capital exceeds RMB 9 billion, and the unit of measurement is still US dollars.
“The project is good, so I went there personally. There are too few good projects these days, especially in recent years, it has been too difficult to get listed on Nasdaq. The willingness of the United States to invest in Chinese companies It's getting lower and lower.
I'm really unwilling to go public on the Hong Kong stock market. The valuation given by the Hong Kong stock market is not for people to see. It's all for the purpose of listing. After listing, I just run away.
The entire industry is in stagnant water. "Chen Hongyi looked calm and relaxed, but what he said was extremely frustrating.
Fang Huiyu chuckled softly: “I didn’t expect Qiming Venture Partners to have the same troubles as us.”
Chen Hongyi said: "The industry as a whole is under pressure, and everyone is having a hard time. The main reason is that the investment logic has completely changed.
In the past, we helped Chinese companies go to Americen to tell Chinese stories. Now Americen If we don’t listen to your Chinese story, we only want the present and don’t listen to your future.
Except for a few giants, Chinese companies will be listed on Nasdaq and compete with benchmark foreign companies. Without many advantages, coupled with the uncertainty between China and the United States, this road is basically blocked.”
Fang Huiyu agreed: “Before, we were looking for companies with potential to invest, but now. Everyone wants to invest in companies with gods behind them."
Chen Hongyi and Fang Huiyu looked at each other and shook their heads with a bitter smile.
There are magical companies that, when investing now, don’t want to invest in Hong Kong stocks, can’t get a good valuation, and can’t go to Nasdaq, so they can only look at the big A companies.
If you want to be listed in Big A, there are mostly gods behind it. Therefore, if you invest in a company and hope that it can be listed in Big A, you must first find out its roots and what kind of gods are behind it, and then evaluate the gods. Whether the magic power is strong enough, whether it is a heavenly immortal who is enlightened by thunder upon hearing the name, or an earthly immortal who sits on one side, everyone is vying to invest in the enterprise with the immortal behind him.
It is equivalent to not looking at your industry research level. The test is whether your antenna can capture accurate signals.
Both Chen Hongyi and Fang Huiyu felt that the more they worked, the less interesting they were, and they no longer had the same passion as before.
“Lite’s project is different from what I expected, but I still want to invest in it because no other domestic company is doing it, and I have even heard of no company abroad that is doing well.” Chen Hongyi said: "Although the results seem far away, I think this is a target worthy of our long-term investment."
Fang Huiyu thought to himself, the old fox still wants to fool me, the results are far away, haven't they already achieved results? We are all veterans of biomedical investment. Experimental monkeys have been successfully verified, and the step to success in humans is completely foreseeable. Unlike some cutting-edge projects, there is only one concept at all.
If this project only has one concept, it depends on whether you will invest or not. With such high-sounding words, Fang Huiyu said after a few words: "We at Materia Medica Investment are also very optimistic about this project. We feel that this project has great potential, and the same I plan to invest in it and take a look.”
The other people over there from Shunwei Capital were talking quietly to the people from Sequoia:
“Junior Brother Lei’s company, ours. How could we not come and take a look? It’s just a little different from what we expected.”
"Yeah, I originally thought it would be a biopharmaceutical company. Dr. Chen has very deep knowledge in the field of biomedicine. If it is a new drug research and development, we will definitely invest a sum of money in him without hesitation.
But There are too many uncertainties in human hibernation technology.
However, we are very optimistic about Dr. Chen. It is not easy for such a young person to resist temptation. ”
"Are you talking about continuing to cooperate with Goose Factory?"
"Yes, you gave Goose Factory a hard time on "Once Upon a Time in Kuala Lumpur 2", and then you can continue to work on the follow-up without changing your expression. It’s really rare to be able to cooperate with each other, to be able to resist temptation, and then continue to greet each other with a smile after stabbing each other.”
After the great success of Once Upon a Time in Kuala Lumpur 2, in the follow-up series, Chen Yuanguang or Lin Jia, they still chose to continue to cooperate with Goose Factory, and the investment ratio increased from 2% to 30%.
“Cooperating with Goose Factory is the most rational choice, because 1 and 2 are the whole process of Goose Factory, from shooting to marketing to subsequent operations, the IP itself, Goose Factory’s management and accidental events These are complementary to each other. Changing people to do it means changing actors, changing directors, etc.
Mature entrepreneurs will not take this risk. Dr. Chen is indeed more mature than the outside world thinks. . ”
“This is the ability to make clear decisions. It is not easy to have such accurate judgment at such a young age.”
The topics discussed by the representatives of various investment institutions present. Chen Yuanguang, the representatives of this group all have low-level titles. At the most, he is a senior investment manager. If it were another project, for the first round of financing of a start-up company, at most, an ordinary project manager would be sent over.
Being able to have such a high standard is all because of Chen Yuanguang.
It’s just that everyone originally thought it was a vaccine-related business, but after arriving, they found out that it was a direction that they had never heard of before.
After returning to the conference room from the tea break, everyone gradually became quiet. Chen Yuanguang was still standing on the stage and asked: "Now is the question and answer session. Is there anything you want to ask?"< br>
“Dr. Chen, I am very interested in your direction, but now there is hibernation hypothermia therapy, which uses drugs combined with physical cooling to help patients enter a hibernation state, which also reduces metabolism to a very low level.
I would like to ask what is the difference between the research you did and hibernation cryotherapy?”
Chen Yuanguang said: "The artificial hibernation method currently used in hospitals is mainly achieved through drugs, either pethidine or chlorpromazine, combined with some other drugs and physical cooling."
Big A Bimen There are many more enemies in the north
(End of this chapter)