2018 Business Leaders New Year Forum Participant Series Report 26
Hong Tai Fund founder Sheng Xitai has confirmed attendance Sponsored by the Business Media Group, “Great Change and New Beginnings —— 2018 Business Leaders New Year Forum. On January 25, 2018, he will give a keynote speech in the search for the variables of the times.
Jogging 1000 meters, punching 800 times, kicking 200 times, push-ups 80, sit-ups 120, flat support four and a half … … in the latest fight training, 47-year-old Sheng Xitai completed the above actions in 2 hours. “Each indicator needs to go further every time. The bones and muscles of the human being are the relationship between the land and the crops. If there is no water in the land, the crops will be finished. This is his request for himself.
In the past two years, the founder of the Hongtai Fund has spent a small amount of free time in the training hall. Paired with it is the world free fight champion Yang Jianping, who was famous for his three-game winning streak in a fight titled “Kunlun”.
In fact, the winner of this championship is Sheng Xitai. Two years ago, as an individual angel, Sheng Xitai invested in Kunlun, which laid the foundation for its current valuation of 300 million US dollars, and even won the honor of President Xi Jinping. The burgeoning success of this success was finally due to the addition of another partner, Ms. Yu Minhong, the most famous entrepreneur in China, which gave birth to the Hongtai Fund, which was called the “friend circle killer” in the past year.
“ The killer is clearly a tribute, especially for China in the 2015 entrepreneurial carnival. People are relishing the story of a night of riches or “small-fashioned counterattacks”, like a fight in the fight, the audience is looking forward to the KO moment on the stage. Fighters who win screams often belong to those who are calmer, faster, more sensitive, and more able to grasp the rhythm.
From the beginning of zero, 60 projects will be invested in one year, the layout will be from seed to the new three-board industrial chain fund, the branches in 10 cities around the world, and the construction of software and hardware incubators. Sheng Xitai, obviously meets people’s expectations for the “killer.”
“ My original glasses did not have color, but in order to avoid their sharp eyes, I changed the glasses with 30% ink. Sheng Xitai’s hair is upright, raising two fists, one close to the cheek with “30% ink glasses to protect, and the other one to reach out to the imaginary opponent in the air, ready to punch a blow.
Taige is very busy
Sheng Xitai is really busy.
According to some statistics, in the past year, he traveled to and from the Capital Stadium and the Capital Airport, where the headquarters of Hongtai was located, and took an average of four days every day. The flight mileage is equivalent to flying around the equator around the Earth. A little more, I sent 13,300 business cards —— and this is exactly the total number of entrepreneurs, media, angel investors, etc. he talked about in 365 days.
A sense of urgency, initiative, All in, let the slow-paced partner Yu Minhong feel a lot of emotion: “From the first day of Hong Tai’s birth, Tai Ge seems to be not going home, in order to give Hongtai layout, looking for projects, in addition to working day and night, Taige is also running around the country, roads and sermons.
“Tago is Sheng Xitai, correspondingly, Yu Minhong is familiar to everyone, “Yu teacher has become “Hung Ge.” They tried to tell Hong Tai’s story as China’s “PayPal gang”, which gave birth to some of Silicon Valley’s greatest companies — — Tesla, LinkedIn, YouTube and so on. Therefore, the Hongtai Ecosphere is also known as “Hong Tai Bang”.
This reflects Sheng Xitai’s ambitions, and he is blunt: “We will train the first generation of Chinese entrepreneurs, clean and true entrepreneurs, without original sin, China will enter a new era.
Sheng Xitai is one of the most qualified people to talk about this topic.
In 1992, Sheng Xitai, who had not graduated from Nankai University, rushed to Shenzhen to join the first securities companies that had just been established, —— Junan Securities. On the third day of employment, he wore Pierre Cardin, which was set up by the company for 3,000 yuan. As an intern, he took a prospectus in Hong Kong with a blue-covered logo car, took over and finally completed the first IPO case in Sichuan: Jinlu Group.
At that time, the China Securities Regulatory Commission had not yet been established.
A fame in the battle, a young boy. Sheng Xitai became the vice president of Shandong Securities at the age of 26, and served as the vice president of United Securities at the age of 32. He became the president of United Securities at the age of 36 and became the chairman of Huatai United at the age of 42. The cross-border brokerage investment bank has been in the rivers and lakes for 22 years, and has conducted IPOs for dozens of well-known enterprises such as Zoomlion, Han’s Laser, and Blue Cursor. The industry is known as “Little Shuai”.
However, he gradually felt lost. “In the 10 years after the new century, China’s securities industry will no longer occupy the tide, and will no longer give me an opportunity to engage with the mainstream of the society. It will still be this bear-like for another 20 years. I have more opportunities to switch to a bigger securities company to be the president. The same, what is the difference?
In 2008, Sheng Xitai accidentally visited Li Ka-shing, 80, and saw that the latter’s office was very well appointed. Personal interest, and I have been the president and chairman for more than ten years. You are the director of the bureau level, but never do it in the office.Personal decoration. This makes him even more lost: he is just a soldier who has a career and no career. Four years later, Sheng Xitai left the securities investment bank, which has been in business for 22 years, and slowly touched the road of angel investment.
Later, the former colleagues visited him and asked why they must do this business. They are all “slow money.”
Sheng Xitai replied: “What do you know about my pleasure?”
Afterwards, on the morning of September 2013, It seems that it is no different from the past.
Sheng Xitai, the former bureau leader who resigned from the sea, decided not to stay at home to tease the children, but to visit a friend at the China World Hotel. Passing through the hotel lobby, he saw several people in suits and suits chatting together. Several of them just happened to know each other, so they went to say hello and greeted the courtesy. They learned that the young man named Jiang Hua was looking for angel investment.
In those two years, Sheng Xitai did not find a new direction in life. In the past, he was an investment bank, serving the enterprise’s long-term back-end. In accordance with the inertia of more than 20 years of practice, he tried to find inspiration in the PE field of the same service enterprise back-end. The angel investment in the front end of the service enterprise was regarded by the former as a “sweet investor” and the image was low-end.
Sheng Xitai stood up and planned to leave. Unexpectedly, Jiang Hua suddenly stepped forward and held his fists like a martial arts man: “Sheng Zong, can you take a step to speak?
Three days later, Sheng The money went to the account of Jianghua Company. He did not intervene in the name of an angel, but a co-founder.
In less than 11 months, the free-scoring brand called “Kunlun” has become a race with the old-fashioned fight program “Wulin Wind”. After 14 months, Kunlun decided to introduce a new round of financing, valued at 150 million US dollars. At the end of 2014, in the national ratings ranking, Kunlun decided to take the second place, second only to “If You Are the One”, the number of fans reached tens of millions.
In 1 year, from 0 to N, this subverted the recognition of Sheng Xitai. In particular, it is himself who catalyzes this miracle.
He did two things: introducing his own contacts and resources, introducing his own experience and patterns
As co-founder, Sheng Xitai invested in Jiang Hua and quickly resolved for Kunlun From the office space to the follow-up financing issues, IDG and Zhenge Fund have entered.
At the beginning, “Jiang Hua, who has only done some successful small businesses, estimates that Kunlun can achieve a market value of 10 billion yuan. Sheng Xitai has calculated an account based on his own experience and pattern: 300 million US Population, the world’s top comprehensive fighting event UFC can achieve 3.8 billion US dollars, China’s population is more than four times the United States, in order to benchmark, Kunlun can reach 10 billion US dollars.
In January 2014, Kunlun’s first game was held in Thailand. After the broadcast of Qinghai Satellite TV on Sunday night at 22:30, it was not shocking. In the second game, Kunlun decided to cooperate with the martial arts wind to clear the obstacles to the approval of the domestic landing. As one of the cooperation conditions, the competition fees were paid by Kunlun. This game is very hot, fighting fans suddenly know Kunlun, many people become fans.
Fortunately, the introduction of the national sports industry policy and the approval of large-scale events this year. Kunlun decided to stay in place one year ahead of schedule and stood on the vent. Today, Kunlun is not a purely fighting game, but a super IP that sits in the business sector of e-commerce, apparel, games, games, etc., is regarded as a model of “Internet + sports”.
“Being needed is the greatest enjoyment. Kunlun has subverted Sheng Xitai’s perception of angel investment: “The original angel’s interesting thing is that with my age, experience, connections, resources, experience, etc., it is really possible to make an entrepreneur and entrepreneurial project leopard! I am without me, it is a difference between life and death.
—— Hong Tai’s investment philosophy was thus built: Angel + (ANGEL PLUS). Later, these two words became the English name of Hong Tai.
There are no gods in this industry
At the end of 2014, Hongtai was established, the first year of Chinese entrepreneurship is coming, and 6,200 early investment institutions are ready to go, “double slogan” When it comes to the fore, Chinese-style entrepreneurial carnival is dazzling. But human nature has never changed. Fighter Sheng Xitai began to be as calm as a veteran, looking for his own rhythm.
Throughout 2015, Hongtai Fund received a total of 20,148 business plans, with an average of 2.3 startups coming to the door every hour, and Hongtai invested 60 projects from it, with an investment rate of about For 3‰, compared with the domestic angels, the selection rate of 1%~2% is extremely demanding.
A business plan needs to be screened through six layers before being accepted and determined to be invested: investment manager screening, group screening, partner screening, management partner screening, Sheng Xitai judgment, Yu Minhong on some projects Interview. In this process, each link is vetoed by one vote, and it is better to miss the wrong project.
I remember that at the beginning of 2014, Sheng Xitai accidentally contacted the Huimin network team. He didn’t feel the project, but he felt that the team was very strong. Where is the strong? The founder will tell the story, the team has been working on it for a while, and none of the questions asked can be answered. Sheng Xitai feels interesting. Please ask a dozen e-commerce providers in the circle of friends to check. The big men went to investigate and replied: This project cannot be cast.
Among these amnesties, there are no shortage of people who have invested in similar projects with Huimin.
But the Shengxi Taiyue and Huimin network team contact, the more reluctant to give up. “Gambling is gambling, no matter what others say, Laozi will do it! This is his only project to discuss with his wife before the vote,” “I don’t want her to make a decision for me, just want someone to tell me. Release the pressure, because no one supports me, everyone is against me, I want to vote for ……
Now, this is abandoned by 300 investment institutions, and the industry is not big. The optimistic project has become the largest community e-commerce and supermarket purchase platform in China, with a valuation of 2 billion US dollars. This gives Sheng Xitai a further insight into angel investment: there is no god in this industry, we are looking for people with success traits, including but not limited to learning ability, persistence ability, and self-reflection ability.
Further extension, the essence of angel investment lies in understanding human nature.
Now, entrepreneurs are talking about projects at Hongtai Fund Headquarters and Sheng Xitai. Sheng Xitai often plays with mobile phones. If the other person can make him thrilled to lose his mobile phone, congratulations to the entrepreneur —— you have succeeded.
Now, no one in the venture capital circle knows Hong Tai, no one does not know Sheng Xitai, and he only wants to give this success to the younger generation.
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