龚挺: Entrepreneurs need to accumulate VC may also be "blind"

The sig was added in January 2006 and has so far cast nearly 40 projects. Before joining the Haina Investment Group, he was a managing partner in the dominant capital. From 1996 to 1999, he served as general manager of the company and senior management Advisor of UT Kangda. From 1993 to 1996, he served in a real estate fund.　　In addition, he has founded a company on communications technology Hotvoice.　　Keen tea flavor: agriculture, consumer services and retailing, education, internet and information industry, medical, manufacturing, media and entertainment, telecommunications, resource-type signature refreshment: Easy to live in China, country base, luxury car rental, caramel mouth, giant education, 51 dating network, if neighboring network, Poly-Boehner joint investment efficiency　　Nan du: You have a lot of projects with other VC joint investment, why will this model?　　龚挺: Joint investment can avoid doing some repetitive things, we share some of the work, so the efficiency will be higher, which is why we can quickly cast a number of projects, at the same time we also hope to cooperate with others, we can play together to complement each other.　　South are: Different VC between the cooperation will produce some collision? 龚挺: The main point is that everyone should get along, and the investment perspective should be similar.　　For example, in IDG's Shong is in China to cast media very early, we were with him. Three media-related projects (sea plate, impressions and Tin Shing), Sequoia also like us to attach great importance to the consumer market, so the cooperation to invest in the chain of enterprises (country base and small swan). Of course, sometimes people will have different views, each of them will adhere to their own principles, this is not a matter of human issues, even if there is controversy is worthy of encouragement.　　The other is the complementarity of resources.　　Nan du: How many times have you said you are bullish about the consumer goods market?　　龚挺: In China, consumer goods are the most development potential and the lowest risk, because the consumer market is related to the population of China, the consumer market is not affected by the policy, also not affected by foreign troops, and not by the impact of technology, so we feel is able to develop the longest market.　　Early projects with emotional color South: Domestic internet entrepreneurs like to imitate foreign projects, do you think a similar Groupon such a group purchase project in the domestic market? 龚挺: I think some things are not clear, or too new, it is not good comment. We often talk about it when we look at the project, what is the similarity between a company and a company in the United States, or is there a company that does similar products in the United States, or a company that has already started listing in the U.S. level two market, especially in the so-called company's scalability and future prospects,　　We will do a more detailed comparison, specific to your Groupon, I think it is still relatively early, it is difficult to draw conclusions, need to observe a period of time. Nancy: But you've also invested in several early projects that may not have a model abroad, how to judge?　　龚挺: These are Chinese-style companies. Relatively speaking, I am very sensitive to new things, but a little conservative when investing. The risk of investing in new companies is very large, to gamble, it may be 10 times times, 20 times times the profit, this is to see our overall portfolio, some of the early things we dare to vote, mainly we can understand.　　Not more than 3 million dollars in the company we have voted 5, the risk is greater, we are tantamount to supporting entrepreneurs, with them to start a business, so spend a lot of time, some projects, our investment managers even with emotional color to vote.　　[Page] The development of online games need to be patient South both: You invest 51.com the past year does not seem to have anything particularly big movement, recent has any dynamics? 龚挺: The current 51.com traffic is very large, the user base is also very large. Last year compared to net, in the limelight is really behind some, this is mainly because there is no development in the game, But 51.com is not the same place as happy net, happy net users are mostly their own computer people, almost do not put their own information in the account, just stealing vegetables, parking spaces and other kinds of interaction more, but the 51.com more emphasis on the storage of personal data, 51.com users have a lot of information, including a lot of diary , music, photos, etc. are stored in, it is not easy to change places, we will find ways to better adhere to these users.　　See if there will be a breakthrough this year, such as whether the game and interactive functions will improve.　　South: The field of online gaming has not been as hot as it used to be in the past two years, will investors be patient with a good game? 龚挺: China has not had a great big game in the past two years, including several listed companies, China's game developers these two years seem a bit impetuous, want to quickly succeed. In fact, the development of a game requires a lot of time, Warcraft made a great game, is a foundation.　　China now launched a large game is very similar, a few pictures and characters, and the introduction of the time is relatively concentrated, which is like many large films at the same time, the user will be aesthetic fatigue. I still very optimistic about this market, the next 3-5 years China will have a large game out, this product must break the players are now aesthetic fatigue.　　As investors, we are patient, hope that the developer heart not too impetuous.　　There is still a chance to South: Now the Internet industry is more and more stringent regulation, you invest in the Internet have impact? 龚挺: There are Chinese rules for doing business in China, and I think the problem of government regulation may be less than piracy. Government regulation, each country has the practice of each country, the development of the Internet, as investors are difficult to evaluate. It is very important that we pay attention to this when we invest.　　In the past, almost every VC project has encountered a similar situation, we still follow the government's thinking, we will not be exceptional. Nan du: But many people think that the space of business in the internet has been getting smaller and more difficult, youHow to see? 龚挺: The Internet is the most competitive, many companies to make the first place, after a period of decline, in a very short period of change, the ups and downs, the turbulence than any industry is more intense. People often ask, Tencent, Alibaba, Baidu, China can also be a very large internet companies? I am very pleased to see that last year, the emergence of a group of companies, such as 360, the Thunderbolt have come to the hundreds of millions of-dollar pass, and then to the last step, there is absolutely hope.　　Will there be more hundreds of millions of-dollar internet companies coming out?　　Nancy: Some entrepreneurs think that in the shadow of the 60-whenever-dominated internet giant, they seem to be doing some side-corners business and often worry that giants are cutting into their markets, does that mean there's no chance of a generation? 龚挺: The entrepreneurial space is an objective reason, but I think do anything is need to accumulate, when like Ma Yun, Li, Zhou, Ma Teng start is also more difficult, you can say that they are on the white Paper has a great play space, but also to take a lot of risk,　　Although the founders are generally better, but they do not make the internet for more than 10 years, I am optimistic about those who have already made achievements, but to the last step, but also need to accumulate. [Page] After tea spit The truth VC may also be "blind" there is a little boy Johnny Love American football, but he is thin and small, there is no advantage, from primary school, high school, he has been a football team members. No matter the wind and rain, he will go to training, each game he is a substitute, his father will sit on his side said "refueling, good play." He remained a substitute for the last year of high school. That year the team played very well, entered the national championship finals, all the players are very excited, he is the same, but in the night before the game, he told the trainer, sorry, my father was ill, I go back to see, I will be in the final game before the scene. The next day the game began, their team did not play very well, to the final 15 minutes and still fall behind a ball. Then Johnny came back, still sitting on the bench. After 10 minutes the situation was getting more and more critical, Johnny said I wanted to play. The coach thought he was joking. For the last 5 minutes, the coach felt the ball was going to lose and let him go up.　　As a result, Johnny went up like a mad cow, grabbed the ball immediately, and began to lead the team to counterattack, and finally won the 1 minutes before the final. After the final everyone was gone, and finally found Johnny a person standing in the middle of the court to cry.　　He told the coach that over the years my father had been watching me play, but he was blind and he had never really seen me play, and today he died and he was watching me play the game in heaven. I want to tell others is, in fact, VC is sometimes not a coach, there may be "blind", we inspire all entrepreneurs, believe youBe successful.