My Age of Investment - Chapter 1501 supreme command

   Chapter 1501 Supreme Command

   After years of layout and development, Xia Jingxing currently owns many investment brands such as Envision Capital, Daxia Capital, Fuxing Industrial Investment, Domestic Cultural Investment, and Envision Entrepreneurship Incubator.

   In fact, Xinxin Group, which is placed overseas, is also an investment brand, but it is a little special. It operates this giant chip industry platform in the form of a company.

   With so many investment brands in his hands, Xia Jingxing sometimes felt a bit of a headache, because the sphere of influence of each institution was not clearly demarcated, which would easily cause internal friction, and he could not concentrate his efforts on major affairs.

   So after he thought about it, there was this "Bashang Prairie Meeting".

The purpose of this meeting is to bring together the managing partners of various institutions, and discuss their respective investment directions to avoid overlapping. .

The    meeting was held for three consecutive days, and there were countless quarrels in the middle. In the end, under the ruling of Xia Jingxing, the various institutions basically completed the division of their spheres of influence.

  Fuxing Industrial Investment will continue to invest in manufacturing and hardware, and will not touch TMT industries such as telecommunications, media, and technology.

  Hai Nei Wen Investment will continue to invest in film and television, entertainment and other industries related to itself.

   These two funds can be regarded as industrial capital, and the investment strategy is basically based on the upstream and downstream industries of Fuxing Industry and Domestic Holdings.

  Hinai Wentou is relatively purer and only invests in industries related to the group. The real identity of Fuxing Industrial Investment is actually the 100 billion RMB semiconductor industry fund established two years ago.

  Envision Entrepreneurship Incubator is still the same, investing in the early stage, not limited to industries, and does not pursue industrial synergy.

   If the incubated start-ups grow up, depending on the nature of the industry, Fuxing Industrial Investment, Domestic Cultural Investment, and Vision Capital will take over the investment.

For example, for a robot-making team, after the Envision Entrepreneurship Incubator developed the first-generation product and launched it to the market, the sales volume and market response were not bad, then Fuxing Industrial Investment can start with it, whether it is acquisition or investment, and provide OEM services, AI services, etc., can be one step ahead.

   For those entertainment startups that make animations, develop games, etc., domestic cultural investment will invest and acquire them according to the situation.

As for Envision Capital, compared with the free investment in previous years, it is now subject to certain restrictions. In principle, it does not overlap with the investment industry of Fuxing Industrial Investment and Domestic Cultural Investment. The main investment directions in the future will focus on medical care, education, and the Internet. and other industries.

   Daxia Capital does not make direct investment in China in principle, and mainly participates in domestic investment activities as an LP investor.

   That is to say, Daxia Capital provides ammunition to Domestic Cultural Investment, Fuxing Industrial Investment, and Vision Capital, and the three institutions will fight in front of them, while Daxia Capital hides behind the scenes to share investment dividends.

   For those companies that are particularly high-quality and worthy of long-term equity holding, after listing, the three major institutions will transfer the shares to Daxia Capital, and Daxia Capital will manage the assets.

In addition, the Envision Entrepreneurship Incubator is no longer funded by Envision Capital or Daxia Capital, but is jointly funded by three institutions, making it a start-up that “connects early-stage entrepreneurs at one end and three VC and PE institutions at the other”. Business Incubation Base.

   With the help of funds and resources provided by the three major institutions, the scale of the Envision Entrepreneurship Incubator will continue to expand, and strive to deliver 100 high-quality start-up enterprise targets to the three major institutions every year.

   In addition, Envision Entrepreneurship Incubator will also be renamed and become an independent early stage investment brand.

   With such an adjustment, the five major investment institutions have become a pyramid shape.

  The topmost is Daxia Capital, overlooking all living beings, is the father and grandfather of all institutions;

  The middle layer is the three major investment institutions of Envision Capital, Domestic Cultural Investment and Fuxing Industrial Investment, accepting capital injection from Daxia Capital, and at the same time, VC, PE growth stage investment, holding investment and other stages are also involved;

  The bottom layer is the Envision Entrepreneurship Incubator, which accepts capital injections from the three major institutions, and is also responsible for selecting and delivering high-quality start-up companies to the three institutions.

  Through such a three-tier structure, Xia Jingxing can firmly control the five investment institutions, complete the fund allocation from top to bottom, and then complete the recovery of investment dividends from bottom to top.

   In addition, such an arrangement makes the relationship between the five institutions more harmonious, without interfering with each other, and each performs its own duties, accomplishing the two major goals of industrial synergy and maximizing investment dividends.

Xinxin Group evolved from the US$10 billion semiconductor industry fund established overseas. Now Xia Jingxing’s investment in it has already exceeded US$10 billion, reaching US$12 billion. In the future, it will depend on the development of the company. further investment.

  This company or the industrial merger and acquisition integration platform is directly controlled by Daxia Capital, and the investment direction is relatively single, so it will die on chips.

   In terms of hierarchy, it is on the same level with the three major domestic investment institutions. It seems to be isolated overseas, but in fact, it is inextricably linked with China.

  Xia Jingxing summoned Fu Jixun to come back for a meeting, precisely to discuss with him the entry of Xinxin Group into China, the selection of Chinese suppliers, and the deepening of cooperation with Fuxing Industry.

   In addition, Daxia Capital also directly holds shares in important companies such as Suiren Lithography Machine, Tesla, YouTube, Android, and Vision Financial Holdings, and indirectly holds shares in Facebook.

   After this round of major adjustments, the importance of Vision Capital will decrease, and Daxia Capital will become the commanding brain of all industries under Xia Jingxing.

   The reason for this arrangement is actually to make room for the reform of Vision Capital.

   With the complete rise of the Envision Capital VC fund, a large number of vultures smelling meat will swarm, and they may be forced to make a new batch of friends. At least the American VC fund can no longer allow Xia Jingxing to eat alone.

When VC funds also opened their subscription shares to the outside world, coupled with hedge funds, PE funds, and real estate funds that had already opened up subscriptions, Envision Capital has completely become a market-oriented investment institution. In the future, Daxia Capital may be the largest Envision Capital. LP, but no longer the only LP.

  Fuxing Industrial Investment and Domestic Cultural Investment will also develop in this direction in the future. LP investors are no longer limited to their own parent company and Daxia Capital, and will absorb more social capital into the fund.

   By then, the only wholly-owned/fully-funded enterprise/investment institution of Xia Jingxing will be Daxia Capital.

   In this case, Daxia Capital cannot become the "Supreme Command", so it is necessary to plan ahead and determine the future development framework as early as possible.

   But the key to opening to the outside world is in the hands of Xia Jingxing. When will it be opened? Who is it open to? These are all important.

   It is definitely not cost-effective to open at this stage, and it is not necessary, at least until the US VC fund of Envision Capital completes a bumper season.

   On the way back to the capital, Xia Jingxing, who had been closing his eyes and resting, suddenly opened his eyes and chatted with Liu Hai about his arrangements for Daxia Capital.

   "Supreme Command?"

   Hearing this word, Liu Hai frowned slightly, glanced at Xia Jingxing, who was looking at him expectantly, and said with a wry smile: "I'm just ignorant, I'm afraid I can't handle the deployment of trillions of assets!"

   That's right, Xia Jingxing's cash and equity assets add up to almost a trillion.

   It’s just that the unit is not the US dollar, but the RMB.

   But it is also very amazing, you can compete for the throne of the world's richest man on the bright side.

  Xia Jingxing chuckled and said, "Rome was not built in a day, and the various functions of Daxia Capital can't be established and perfected in an hour and a half. You can learn it slowly!"

  Liu Hai is still a little unsure. After all, it is worth trillions of dollars. The investment portfolio is composed of countless companies with significant influence all over the world.

   Ordinary people can be called technology leaders if they can master one family, but Xia Jingxing is better, he has a dozen in his hands.

  Xia Jingxing smiled, "Okay, okay, I'm not kidding you, the Supreme Command of Daxia Capital is just a concept for the time being, and it is difficult for us to control so many top companies across countries.

   But I also have a minimum requirement. Daxia Capital must firmly grasp these equity assets and allocate sufficient liquidity accordingly. "

  Liu Hai took a deep look at Xia Jingxing, he knew the intention of Xia Jingxing's arrangement, after all, he was still afraid of hooligans.

  Sometimes too much money is not necessarily a good thing, just how to keep it is a headache.

   "That requires us to continue to strengthen the construction of major investment institutions and Vision Financial Holdings, and securitize, monetize and capitalize most of the assets."

Xia Jingxing held his chin and thought for a moment, then nodded lightly, "Yes, we are now vigorously promoting this strategy! For a big businessman, one must always be prepared for danger in times of safety, because for the sake of an enterprise, there are Too many factors other than business can influence the rise and fall of a business.”

   (end of this chapter)