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Volume 1 Chapter 521 Venture Capital Project

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    Few people in this kind of salon will discuss business matters on this occasion, because this is not in line with the purpose of the salon.  Everyone is together just to relax or chat about some life topics.  Most of them were not talking about art or sports, such as the role of a certain painter, antiques at auction houses, horse racing, fishing, hunting, etc. Although Zhou Liwen was not very proficient in these things, he listened with interest on the sidelines, and even  When Sir Charlie talked about fishing, Zhou Liwen also discussed his sea fishing experience with him, and told about the time when he, Richard and others went fishing at sea.  This comment just scratched Sir Charlie's itch. Although Zhou Liwen only knew a little about sea fishing, it did not affect Sir Charlie's interest in the conversation. The two discussed this and soon attracted the attention of the other two guests. Unexpectedly,  After a while, they also joined in the conversation, talking happily and happily.  Lin Yaxuan and several ladies attending the salon were chatting quietly among themselves. Women are nothing more than fashion, dressing up, flowers and plants.  It could be seen that Lin Yaxuan was also very happy chatting, and they laughed softly from time to time.  There is no fixed end time for the salon, everything is up to everyone.  However, after 10:30 pm, except for a few people who seemed to be talking about something important, the rest of the people had basically dispersed.  Zhou Liwen and Lin Yaxuan also stood up and said goodbye to everyone. Everyone nodded politely, and then they went back to their room to rest.  The next day, after having breakfast in the apartment, Zhou Liwen and his wife thanked Mr. Barak for his hospitality, and then said goodbye to Earl Herbert.  Earl Herbert also specially sent his driver to take Zhou Liwen and his wife to Frankfurt. When they arrived in Frankfurt, it happened to be noon. After taking a short rest on the plane, the captain received the notice that it was allowed to take off, and the plane taxied on the runway for a while.  distance, and then flew into the air, carrying Zhou Liwen and his wife to leave Europe and head to the Eastern United States.  Back in the United States, Zhou Liwen and his wife stopped in New York. Lin Yaxuan stopped by the foundation, while Zhou Liwen went directly to the investment bank headquarters.  When he arrived at the investment bank, Aaron was already waiting downstairs.  "Hi Aaron" "Hi boss" Zhou Liwen smiled and hugged Aaron. Now, Aaron is the president of the investment bank, leading an elite team to manage the investment bank.  Although the main work assigned to Aaron before was for the Samsung Group's project, due to some unexpected events that followed the Samsung Group, this project was no longer the main work of the investment bank in a sense.  According to Aaron's arrangement, although the investment bank still maintains some operations in Samsung Group's projects, the main energy of the investment bank has been transferred from this. With the influence of a series of events such as the subprime mortgage crisis and Lehman Brothers, in  Wall Street took decisive action and soon became famous.  ¡° Moreover, this time the listing of Shanghai Banking and Internet Group under Zhou Liwen¡¯s name was jointly operated by Wells Fargo and Goldman Sachs, especially the listing of Internet Group was basically led by Goldman Sachs.  The shrewd Aaron also saw this opportunity. After getting Zhou Liwen's consent, he took advantage of this opportunity to cooperate with Goldman Sachs and gained a lot in the securities market by taking advantage of the listing opportunity.  "I've read the email you sent me. It's pretty good." He took the special elevator upstairs and came to Aaron's office. After sitting down, Zhou Liwen praised the other person with a smile.  "It was just an opportunity, not worth mentioning at all. If it had been someone else, it would have been just as good." Aaron said modestly, who said that Westerners are all straightforward and humble?  People who say this do not understand the Western world at all. You must know that Westerners are not fools. They will definitely persist when they should persist, but they will also be modest when they are modest. They also understand what the Chinese do.  It is even more important and appropriate to use in certain situations.  Just like Aaron now, he behaves more modestly than the average Chinese, but it would be a big mistake to just think that he is truly humble, because the next sentence reveals his true intention.  "We are not a securities institution. Excessive speculation is not a good thing for a healthy investment bank. What's more, as I just said, we just borrowed an opportunity. This opportunity is in our hands, regardless of decision-making.  It doesn't matter whether it's me or anyone else, the difference is just a matter of making more or less." Zhou Liwen looked at Aaron with a smile. He knew that Aaron would have something to say next, and raised his hand to signal him to continue.  speak.  Aaron said: "The main job of an investment bank should be to invest, that is, to make venture capital for some potential companies to obtain maximum benefits in their early stages. This is just like your investment in Ali, boss. At the beginning, you just  It only cost a small amount of money, but now it has reaped a huge reward." Aaron gestured with his fingers, with a look of yearning on his face. From a professional perspective, Zhou Liwen is simply not comparable to Yaron.  It's crazy, but what makes Aaron admire is that all Zhou Liwen's previous investments have not failed, and he has also received terrifying returns.?.  Not mentioning Or, Or's rapid rise in the smartphone industry is already a legend. Currently, some universities' business courses even include the story of Or's rise and Zhou Liwen's original series of decisions in textbooks for use as topics.  .  Aaron is most impressed by Zhou Liwen's investment in the Internet Group, that is, Ali, because compared with Zhou Liwen's other industries, this investment has achieved a return rate of thousands of times after the Internet Group was listed.  And according to future development, this number will continue to grow.  As an elite in the financial world, Aaron is not satisfied with just speculating in securities, not to mention that he is now the president of a large investment bank.  In this capacity, Aaron originally wanted to rely on the Samsung Group's projects to make Zhou Liwen truly recognize his abilities and switch from a senior employee to Zhou Liwen's partner.  Unfortunately, due to the complexity of Samsung Group's projects, the possibility of success of this hope is already very small.  Although the Samsung project has not stopped under Zhou Liwen's instruction, Aaron, who knows the inside story, knows very well that the current role of the investment bank in the Samsung project is only a supporting role. It is a preparation made by Zhou Liwen to prevent accidents.  Just a plan.  So, in addition to the Samsung project, Aaron must gain Zhou Liwen's recognition in the real main business of the investment bank, which is to successfully complete a large project to ensure his status.  In view of this, Aaron frankly told Zhou Liwen that successful speculation in securities was not his only ability, and there was something else he had not yet demonstrated.  "Dear Aaron, what, do you have a good goal?" Zhou Liwen asked with a knowing smile after hearing what Aaron said.  "Of course, if you don't mind, I want to have a good talk with you." Of course Zhou Liwen wouldn't mind. He raised his hand to signal the other party to sit next to him, and then listened attentively.  Aaron, who had been prepared for a long time, explained his thoughts to Zhou Liwen. According to his vision, the current main direction of investment banks is to find suitable venture capital targets and to conduct some large-scale mergers and acquisitions.  These are the real foundations for the future of investment banks, and they can also bring huge benefits to investment banks.  Regarding the project targets, Aaron put forward three points. The first is the investment in the high-tech industry, that is, the IT industry and some high-tech companies with cutting-edge technologies.  For example, Zhou Liwen's original Or company, as well as the Alipay and Internet companies founded by Zhou Liwen, etc., and for venture capital in the high-tech industry, this is the main goal of most venture capital, with the advantages of large returns and short cycle.  , of course, also has the disadvantages of large investment and high risk.  The second is the high-tech development industry of public utilities and traditional industries. Although the investment in this investment object is also large, the problem is that the risk is small and the long-term returns are good, but the short-term returns are relatively poor.  This is also the object favored by general investment banks.  As for the third one, M&A business, this business is not only carried out by many investment banks, but even some large banks use it as their main business method.  The key to this kind of business lies in capital operation. After going through a series of capital operation methods, the profits from M&A business are no less than the success of venture capital in the high-tech industry.  But there is another problem, that is, the success rate is relatively low. Coupled with some internal and external uncertainties, there are relatively few places that can be fully grasped.  "Do you have a goal?" Zhou Liwen did not comment on the pros and cons of the three aspects proposed by Aaron, because he knew that the reason why Aaron analyzed it in such detail with him was not to teach himself a lesson. He would have said it long ago.  I have selected some goals just to make myself better aware of the differences between the three.  As expected, Aaron smiled and nodded. He stood up and walked to the desk, took out a folder from the drawer, returned to his seat and handed it to Zhou Liwen: "There are five target plans here. You  You can take a look first. Three of them are venture capital projects in the high-tech industry, one is private equity investment in traditional industries, and the last one is mergers and acquisitions business." It seems that he guessed it right. Zhou Liwen smiled and continued.  Then I opened it and started reading.  As Aaron said, the first three are venture capital projects in the high-tech industry, two of which are venture capital investments in Internet companies, and the third one is a venture capital project that manufactures high-performance batteries.  Zhou Liwen looked at the content carefully and nodded secretly while reading. It seemed that Aaron had made many selections before giving him this thing. Of course Zhou Liwen would not think that Aaron only had these five in the beginning.  The target is disgusted.  If his guess is correct, these five goal plans were selected by Aaron from hundreds or even thousands of goals.  ¡°I have to admit that Aaron has a good vision. At least in Zhou Liwen¡¯s opinion, these three high-tech venture capital projects have very good prospects.  Zhou Liwen, one of the two Internet companies, had heard of it in his previous life, but he had never gone to find out more about it. As for the large high-performance battery, Zhou Liwen was even more interested in it.  You must know that the battery used by Zhou Liwen's Or smartphone has been separated from the battery of the original 2 mobile phones. It is currently the best battery product regardless of its battery life and usage time.  And in the next few years, with the development of high-performance batteries,Electric vehicles and hybrid vehicles will also become popular, including the famous Tesla company.  Zhou Liwen paid attention to the investment amount of these three companies. The venture capital investment of two Internet companies was US$600,000 and US$600,000. As for the high-performance battery, the venture capital investment was larger, ranging from US$800,000 to US$1.06 million.  Around, and the equity ratio obtained is not bad. Although the money is a lot, it puts no pressure on Zhou Liwen.  What¡¯s more, even if all was invested, the total would only be about US$260,000.  Even if the venture capital investment of two of the companies was in vain, there would still be an Internet company that Zhou Liwen had heard of in his previous life.  Just the proportion of shares obtained by this Internet company will be enough to earn dozens or even hundreds of times its return in the next few years. This is already a huge success for an investment bank.  Seeing this, Zhou Liwen already recognized the venture capital of these three high-tech companies, and also had a new understanding of Aaron's abilities.  However, he did not immediately tell Aaron what he agreed with, but continued to scroll down quietly, turning to private equity investment in traditional industries.  This private equity investment project is very simple, and Zhou Liwen can understand it at a glance.  This is a company based on manufacturing. After the new heir takes over, it plans to expand its production scale and is seeking investment from private equity funds.  Although this company is a traditional company, its products are not very competitive in terms of product competitiveness, and their products are only average among similar products.  But looking behind, Zhou Liwen discovered something, that is, this company owned several patented technologies that could not be transformed. According to the documents, these patented technologies belonged to the company itself, but due to the company's lack of funds and operating problems  The problem has never been formally transformed into products and processes, and the main goal of this private equity investment is also for this reason.  Zhou Liwen didn¡¯t know much about these technologies, but Aaron had already evaluated these patents with professionals before, and the results of the evaluation were somewhat unexpected, that is, they were half good or bad.  From this point of view, this private equity investment is risky, which is why Aaron plans to intervene.  According to Aaron's document description, if everything is OK in the assessment, the other party is unlikely to hit a wall in private equity investment and seek to come to Zhou Liwen's investment bank.  But it cannot be denied that there is still a possibility of success in the transformation of these patents, and once successful, the rewards will be huge.  It can be seen that whether this project is OK must be approved by Zhou Liwen.  The investment capital is relatively large compared to the previous three projects, about US$660,000, and the other party only paid 2% of the shares.  However, Zhou Liwen carefully looked at the asset evaluation and different patent evaluation reports for this company attached to the document. After thinking about it, he decided to take a gamble. Maybe the result will be good?  Although US$660,000 is a lot, once it succeeds, the returns will be amazing. Moreover, traditional industries are different from Internet companies. Their vitality is very long and powerful. Moreover, products with patent monopoly also have amazing profits. This bet  It should be worth going down.  But Zhou Liwen was a little dissatisfied with 2% of Shao shares. After careful calculation, he wanted to get at least 3% of Shao shares. He would discuss this with Aaron in detail. Even if he paid more money, he must reach this share, otherwise  2% shareholding is really embarrassing for the future success rate.  Thinking of this, Zhou Liwen asked about the equity ratio of this company, including the other party's bottom line.  Seeing Zhou Liwen showing interest in this company, Aaron was also very happy and immediately told Zhou Liwen what he knew.  ¡°Do you think it¡¯s possible to get 3% of this company?¡± Zhou Liwen asked bluntly.  "It's difficult, but of course it's not impossible." Aaron already had detailed information about this company in his mind, and he gave this answer after a little thought.  "Oh, does this family want to maintain its control over the company?" Zhou Liwen asked, tapping his finger on the document.  Aaron nodded and told Zhou Liwen about the owner of the company, and Aaron knew very well why Zhou Liwen made a request for a 3% share, because he had made this request to the other party before, but was rejected by the other party.  .  The successor of this company is a very stubborn middle-aged man. It is understood that those patents were researched by him. Maybe it is because he specializes in technology. This gentleman somewhat lacks the character of being flexible in dealing with people, which he has never had.  One of the reasons why the right investment banks invested in him.  "This is a bit difficult to handle." Zhou Liwen thought for a while, and then said: "Well, I don't think there is a big problem with this plan, but the key is the share ratio. If the other party can make concessions to 3], accept it, if you insist not  If there is a change, we will think of other ways. " "This is also what I am considering. Maybe we can force the other party to make concessions by demanding that the shares be non-dilutable, or that additional capital increases be given priority. I want to add some necessary means, no.  People will refuse our request." Aaron replied with a bad smile, and Zhou Liwen also laughed. People who are engaged in finance are not honest people. Honest people are fundamental.It is impossible for him to eat this bowl of rice, let alone a leader in the industry like Aaron?  In some cases, it is normal to use some means. In business, isn¡¯t it all about cheating?  Zhou Liwen understands these very well.  By the way, Zhou Liwen also told Aaron that he had no problems with the previous three high-tech projects and could handle them according to the plan.  After seeing Aaron nodding in agreement, Zhou Liwen continued to turn to the last item. When he saw the content of the item, he couldn't help but let out a sigh.  (There are things going on these days, so I am merging the chapters. Please support me. The new book will be distributed at the starting point on April 1st. The signing has been completed. Please support me and ask for votes and recommendations by then. Thank you)
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