"Cloud Moon Model" seeks dislocation competition holding Guangzhou British love

Cloud Month investment partner Sudanri recently has a new title: Guangzhou Anglo-Love Trade Co., Ltd. (hereinafter referred to as "Guangzhou British Love") chairman. The reason lies in the recent cloud month investment completed on the Guangzhou British Love Absolute control of the acquisition, become the overseas holders of Guangzhou love.

It is reported that the acquisition and follow-up total investment of about 100 million U.S. dollars, Cloud month investment will occupy Guangzhou British love more than 50% of the equity, Guangzhou British love the original management team to continue to hold a small stake.

Data show that Guangzhou British Love was founded in 1995, is a design, production, sales 0~4岁 high-end baby supplies enterprise, currently has more than 4,000 varieties of products, stationed in 150 cities, the layout of nearly 1000 sales outlets.

For his new identity, Sudanri likened it to "getting involved in a referee or coaching role in order to continue to grow at a high speed next 15". He also disclosed to reporters that this is the cloud monthly investment in the Chinese market to invest in the sixth of the 12 projects by its absolute holding company.

New

After the acquisition, cloud-month investment on the enterprise made a large-scale adjustment. According to Sudan Rui, the current cloud monthly investment in Guangzhou love the existing team based on the appointment of its operating team 3 members to participate in the company's management, and in the board of the majority of seats. At the same time outside the 5-bit in product design, E-commerce, ERP, IT systems, financial control and other aspects of experienced experts in enterprises. In addition, in terms of business development, cloud-month investment has "identified" three potential mergers and acquisitions in Guangzhou, with two companies expected to complete their acquisitions by the end of the year.

Mao, the senior vice president of Cloud Month investment at Guangzhou's director of British love, became busier. "I have to be very concerned about the enterprise, what the existing management team can solve when the enterprise encounters problems, and what the existing management team cannot solve." Can not solve how we help him, we are to contribute some relationship to him or we help them recruit some people to upgrade their management team? So that's why we have 30 people in our team. ”

It is reported that for this project, Cloud monthly investment formed a group of 5 people, each week will be fixed in the enterprise for two or three days, and sometimes even a few weeks.

In Sudanri's view, not every enterprise can be successful through operational and management intervention, they need not only money, but also some expertise and experience in management and operations, which is just a chance to intervene in the cloud month investment. For Chinese companies, those companies will not succeed if they simply want to grow in their own way, rather than using the experience and value of some of the outside investors.

According to Guangzhou British love Chief operating officer Liu Jianhong revealed that guangzhou British Love's baby supplies sales in the last 4 years of the composite growth rate of not less than 48%, Cloud monthly investment, will be in the next three years to 400~500 each year to expand the speed of expansion, and plans to start the listing of 2013 years or so plan.

Cloud Moon Mode

It is always the VC/PE industry's game rule to occupy a small stake in the enterprise and ultimately to exit to earn a premium. From this perspective, the time-consuming and laborious approach of cloud-month investment is clearly less flattering.

In this respect, Sudanri explained to the reporter, with the general investment institutions, the practice of net-cast is different, cloud monthly investment concerns relatively small "sample pool", the purpose is to do some boutique enterprises. "Our investment model is different from other PE, we hope to participate in the enterprise's house as the owner of the enterprise, through participating in some operations and management of the invested enterprises, to provide help for the operation, business development and financial control of the invested enterprise." ”

Sudanri the practice as a "cloud-month model", stressing that the positioning is more like an industrial investor than a purely financial investor, focusing solely on the return on premium to exit. "We want to be the owner of a business, not just a" passer-by "in the process of development. ”

In the setting of the fund, Cloud monthly investment has a completely different approach to other PE. It is reported that the fund has a lifetime of 10-15 years of investment, the current LP in the form of dividends every year, rather than wait until the expiration of the fund to return investment one-time. In view of this, in Mao, if the invested enterprise annual profit, annual dividends, cloud monthly investment will not completely exit, or even become a long-term holding strategy.

In fact, in the "cloud-month model" behind, Cloud monthly investment has a deeper consideration.

Mao to reporters frankly, "cloud-month mode" approach to a certain extent is also to circumvent the industry investment, dislocation competition is a practice. In fact, he points out, for the benefit of an investment organization, it is made up of two parts, one part of which is the return of the company's own growth to the investment organization, and the other part is the valuation of the enterprise when the project exits.

"In previous years, the one or two-tier market had a significant spread, IPO premium, but since last year the spreads are getting smaller, making it increasingly difficult for investment firms to estimate the value of their exit valuations." Mao said, "in the latter there are many uncertainties, we are more willing to put ' treasure ' in the former." ”

Data show that the current cloud monthly Investment Management fund size of more than 500 million U.S. dollars, the third phase of the fund was collected last year, the total amount of more than 200 million U.S. dollars. The projects that have been invested include palmtop, silver payment, Jawbone, Beihai Fruit Garden, Yunnan forestry and so on. Currently, of the 12 projects in which it invests, 4 have all withdrawn, and another 2 will be withdrawn as a listing and equity transfer respectively.