Exposure！ The most profitable VC in China

Although VC volume is less than 1% of China's GDP, although the "national PE" after passers-by all say VC/PE has died, but you can not deny that those excellent VC are still our time the most profitable group of guys.

Maybe even buy vegetables aunt know Wang Yawei but do not know who Shen is, perhaps the two-tier market of analysts have been called "investment Tatsu people", but in the real big VC before, those returns simply insignificant.

Don't talk to me about the 10% rate of return, and do not mention what irr10% the following products. In front of VC are clouds. In the eyes of all the friends in the brush all kinds of financial products, the investment industry to tell you that the world's real money people are "low-key" terrible. After reading this China will be the most profitable VC, you will understand that, in fact, making money is really a technical job!

Sequoia Shen

Sequoia: Ju Mei only product will achieve the return myth shen "Godfather" of the electrical quotient

How many local electric companies did Sequoia China vote for? It is estimated that Shen may not be able to remember, but it is certain that Sequoia's investment in the electric business sector is the most successful. In those years when the electric business was hot, every institution had spared no effort to snatch the power from the electricity dealers. But there are only a few that can be listed in the end. Including the Sequoia investment in the wheat forest, the only product will, Poly-Mei Excellent products (hereinafter called Poly-Mei) and so on.

Shen once admitted that China's investment should know how to mix circles and find people. The success of Sequoia's investment in electric business may be due to its familiarity with the electric business circle. Shen is like the "Godfather" of the Chinese electric Business circle, watching a group of their children every day "pinch", but in the final analysis are their own things.

One second you can see only the product will and the United States is still in the "pinch", a second after the United States on the steps of the goods will follow in the New York to Ring Bell. In addition, there are Wang and Chen Au this to the death of the enemy is nothing to fight a "sugar" to eat, was "fooled" to do the music bee Nets Li, these own "children" have contributed a lot to Sequoia.

The investment community checked the next lap of the most reliable private placement of the data, the results found that Sequoia these years to make a pot full of. We have no way of knowing when Redwoods will quit after the silent period, but even the return on the quoted price is extremely scary.

For the United States, the 2011 round of financing, the Sequoia investment of 5.85 million U.S. dollars, which let Sequoia in the listing before the holding of Poly-Mei Excellent products 18.7% of the shares. According to the opening price of 27.25 U.S. dollars, Poly-Mei Excellent products market value of 3.87 billion U.S. dollars. Sequoia Stock market value reached 724 million U.S. dollars, three years time to earn 144.8 times times. This is a "sad story" for investors who have missed out on the poly-American product.

Push forward for 2 years, the only thing is a "reverse story." 2012 when the market, only goods will not be insignificant. Sequoia has invested 44.5 million of billions of dollars in the previous rounds, before listing 16.76%, according to the 6.5 dollar price calculation, Sequoia's book Return is only 59.9%.

But you jiabuzhu the cock. By the time of press, the stock price of the goods will be 185.9 dollars. Although we do not know whether Sequoia in the past two years to sell a part of the stake, but if not, then Sequoia can now make 1.734 billion of dollars, compared with the then 44.5 million U.S. dollar return as high as 38.96 times times.

The Pillars of IDG Forest

IDG: SouFun 11 brings a hundredfold return to the comprehensive forest pillars of the first war "Seal God"

Since the Shong era, IDG has almost invested in all the Chinese Internet representative enterprises, and almost every "phenomenon-level" company with the Internet climax has been associated with IDG. But when it comes to IDG's highest return on investment, the answer may be somewhat unexpected, with SouFun becoming the highest investment return in IDG China, while another "masterpiece" Company, Baidu, can only take a 100 times-fold return on investment.

The firm's clear private equity tells us that persistence is a virtue. SouFun in IDG after 11 years, and finally completed the listing in 2010. 11 years ago, the 1 million-dollar investment took the SouFun 20% stake. 11 years later, according to the IPO price SouFun listed for IDG brought a 108 million return. The book returns up to 108 times times. Comprehensive so a war "seal God".

IDG's other partner Lin is the investment of the "behind-the-scenes hero." When Tianquan founded SouFun, it was through the Tsinghua alumni forest pillars to know IDG and finally get investment. In addition to SouFun, Lin Pillar has cast including Net dragon, Lannieu technology, cloud survey and so many impressive projects. Which investment net Dragon finally achieved Baidu mergers and acquisitions network under the Mirs 91 wireless.

Compared to 5 million of dollars in investment, 91 wireless in Baidu 1.9 billion after the return of a considerable amount. Although there is no way to understand the acquisition of IDG specific shareholding ratio, but according to the previous 91 wireless rounds of financing and valuation calculations, IDG's shareholding will not be less than 10%, even in accordance with the 10% calculation, IDG's return is as high as 38 times times.

Sai Fu Asia Yan

Sai Fu Asia: Insight bead a magical site 58 in 7 years with the city return nearly 50 times times

At the end of 2004, the team from the SoftBank Asia management Team Independent, the following year, Asia-rich Asian Investment Fund two set up, the size of 643 million U.S. dollars. The fund is the one that invests 58 of the same city. The Fund's investment projects also include: The Perfect World, NVC lighting and satisfying oana. At the time of the game rich investment (also called "Soft Silver Race rich") sheep East found 58 city, 58 with the city has not registered companies.

According to Yiu Jingbo recalls, at that time, its to 58 with the city for a long time, but did not make the final investment determination. Yiu Jingbo, who had not got the results, ran to its's office one morning and saw Yan, who was having breakfast. Yan invited Yiu Jingbo to have breakfast and chat while eating, the final investment decided to finish the breakfast after that day.

The reliable private placement of the Qing branch told us that the rich Asia for 58 of the city's "Love" is a commitment. In 2006, the first batch of $1.5 million from the fund was the Foundation for 58 of the city's early development. In August 2007 and May 2008, its again injected $791,000 and 2.5 million dollars into the city of 58. As of 58 when the city was listed, Sai Fu held 58 shares of 22.6% of the same city. According to the issue price, the rate of return for the 58 city is 47.86 times times higher.

Another project to make Asia famous is perfect time and space. 2006 Rich Asia Investment Perfect time and space 8 million U.S. dollars, only a year after the perfect time and space listing, the IPO price reached 16 U.S. dollars, Rich Asia at that time the market value reached 400 million U.S. dollars, the return of more than 50 times times.

Chen Xing Chuang Liu

Morning Hing Chong Cast: Alongside the millet "thigh" return multiples or create history

If not unexpectedly, on the day of the millet listing, morning Hing venture will likely create a return to the investment circle "myth." We do not deny the morning Hing Venture investment has also invested in such as thunder, more play yy, Jinshan ... A group of well-known enterprises. But if the rate of return, only millet a project return may be greater than the sum of several projects.

The reliable branch of the clear private-sector database tells us that Millet is currently valued at 30 billion U.S. dollars, morning Hing Venture before the investment of the rounds of 60 million U.S. dollars, accounting for about 11% of the shares. In other words, 60 million of the investment is currently valued at 3.3 billion, and the rate of return has reached 55 times times.

What is frightening is that the value of millet is still growing, and future stock prices are likely to create new highs, and morning-hing ventures are likely to achieve a return of more than 100 times times. The story also tells us that quantity is not the standard to measure investment success, quality is the most important. When you are in the "snowball" of the "thigh" every day, you have become the myth of the "creator."

DCM Lin Wo

DCM: "Magic" investment more than a 58 with the city only goods will be like

DCM is the rising VC star in recent years. Although the team only 5-6 people, but the output per capita is the highest VC. Countless according to no truth, the clear branch of the private equity to tell us that DCM from the establishment of a total of 18 out of the project, each is a famous head. There are 58 of them with the city, the demon stock only products, Dangdang, worry, Renren, easy Car network, of course, there will be listed on the cattle and pea pods.

In terms of return, 58 of the city again "won the championship." In the 58 City of May 2010 and December, the C-round and D-round financing, DCM total investment amount of 15 million U.S. dollars. 3 years later, October 31, 2013, 58 successful IPOs in the city, the issue price of 17 U.S. dollars, DCM book return multiples reached 12.38 times times. Now 58 shares in the same city have reached $51 trillion (as of the time of the press), and if the DCM does not exit, the return on the paper is 37.14 times times higher.

Demon stock only product will be DCM another representative project. DCM invested 39 million U.S. dollars in the year, according to the 6.5 dollar price, the return reached 1.6 times times. And now the only product will be the price of 185.9 U.S. dollars, if the DCM did not exit, the return can reach 45.76 times times.

Ding Hui Venture Wang

Ding-hui Venture Investment: Qihoo 360 Super 40 times times return Wang classic case

Although, after the Wang era, ding-hui ventures in the intensive investment, but after all, the time is short, ding-hui classic case, still with the Wang era of signs, this is Qihoo 360.

In many of the Ding Hui Investment, the highest return in the case of Qihoo 360. 2011, Qihoo 360 in the United States IPO total 40 times times oversubscribed, as one of the most successful Chinese enterprises in the United States IPO transactions, the Qing branch group "2011 China's best venture exit Case" and "2011 China's most influential IPO case." Wang revealed that 2006 investment Qihoo 360 Company 5 million U.S. dollars, according to the stock price calculation, ding-hui venture has earned back 200 million U.S. dollars, the return of more than 40 times times.

Ding Hui small Investment big return of another classic case is the media, Ding Hui is the second round of media financing of the People, April 2004, Ding Hui 6 million U.S. dollars, become the media of the early investors. At that time, the Ding Hui to 0.24 U.S. dollars/shares for the media 9.37% shares, total 25 million b preferred; in July 2005, the mass media successfully landed in the United States Nasdaq, before privatization, Ding Hui batch sleeve is withdrawn. According to the stock price estimate at that time, the investment return of Ding Hui is between 10-25 times.

Today's capital Xu

Today's capital: to find the killer entrepreneurs and other 8 years to receive a hundredfold return

Xu may be the largest investor in the history of VC, from potatoes to real kung fu to Beijing East, these projects are almost every year by the media scrambled to stir. But for Xu Neu Lai, who is known as "investment woman", says it's not a thing. When the "sunspots" were also making comments online about Xu's investments, they had already opened champagne on Nasdaq and NYSE.

May 22 This year, the market value of 40 billion U.S. dollars in the Nasdaq listing of Beijing East. Emotional investors Xu finally wait until the harvest, 2007, Liu in the Operation Jingdong Mall extremely lack of money difficult stage, put forward want to melt 2 million U.S. dollars, the result "bullish he" Xu voted the first money 10 million dollars. The investment returns as much as 121.53 times times the investment of today's capital, which can be used to achieve up to $3.6 billion trillion of withdrawals by today's capital prices.

In addition to Beijing-east, today's capital investment list is fruitful. NetEase, Chinahr, public comment net, net, Tudou can see Xu figure. "Three years before a case," the capital today has a total of 15 companies, 7 companies become the industry's first brand, Jingdong is only one of the most successful. Xu with the actual action tells us, throws own project, lets the others say go!

Soft Silver Son

SoftBank China: 15 Companion to support Alibaba Empire two IPO myths

SoftBank China has successfully invested in Alibaba, Taobao, the media, the universal data, God Fog, Dean Diagnostics, Ribon Instruments and a series of outstanding enterprises. The media has said soft silver: "Although SoftBank China's management team in the investment is not much success, but wearing Ali, Taobao, the media investment success of the halo, enough to let them at home and abroad capital market." ”

This is true, and Alibaba's investment is enough to lay soft silver in the investment circle. 1999, Jack Ma founded Taobao early, won the son 20 million U.S. dollars investment; February 17, 2004, Ma Yun announced in Beijing, Alibaba again won 82 million dollars of huge strategic investment. The investment was the largest private-equity investment in the domestic Internet. August 2005, Yahoo, soft silver again to Alibaba investment hundreds of millions of dollars.

In 2007, when Alibaba first came on the market, SoftBank's return on investment was already as high as 71 times times. SoftBank is not Alibaba's initial venture capitalist, but it is sticking to the last one. Today, Alibaba is about to enter the capital market for the second time, the US analyst valuation of 245 billion U.S. dollars, has been nearly 10 times times more than 7 years ago. Alibaba's bells approaching, soft silver investment has been framed into an insurmountable myth.

Jingwei China

Jingwei China: Cheetah moves for 5 years reverse attack early investment blossom

In 2011, after the first exit peak, Jingwei China ushered in the second peak this year. Compared with the 2011 Qihoo 360 and Century interconnection, Jingwei China's withdrawal in 2014 created a new high in institutional history.

Good at excavating the internal data of the Qing branch of private-equity told us that September 2009, can be cattle software to obtain Jingwei venture investment 30 million yuan. 1 years later, can be cow software and jinshan drug combination, Jingwei venture into the merged company after the "Kingsoft Network (The Cheetah Mobile predecessor)" shareholders. July 2011, Jingwei Venture Investment Cheetah Mobile, investment amount of 1.3 million U.S. dollars. After the release of the completion of the transfer of the 77,168,675 shares of the Cheetah Mobile Group A stocks, accounting for more than 6.3%.

According to the issue price of 14 U.S. dollars/ads calculation, Jingwei venture holding shares worth as much as 108 million U.S. dollars, book Return 16.66 times times. It also makes the cheetah move beyond Qihoo 360 's 13.1 times-fold return to become the most rewarding company in the history of China's investment.

Qiming Venture Donshau

Qiming Venture Investment: Many projects bat, "inadvertently inserted Liu" into the Empire

Although Donshau has joined the capital of Ji Yuan, his contribution to qiming is still "fermented". 2010 is Donshau investment 350,000 U.S. dollars to invest in millet, easily accounted for 3.5% shares. And in the subsequent investment in millet every round, qiming have to vote. The firm's clear private equity show, up to now, qiming total investment millet 60 million U.S. dollars, accounting for 11.37% shares. and millet valuation is currently 30 billion, according to this calculation, Qiming shareholding book valuation has reached 3.411 billion, the return to 56.85 times times. If a single investment, Donshau 350,000 dollars in exchange for 3.5% of the shares, has been worth 1.05 billion, the return to the horror of 3,000 times times!!!

Inadvertently inserted Liu Millet achievements qiming and Donshau, and heart inserted Willow project also performed well. 2013 domestic TMT vigorous mergers and acquisitions drama staged, one of the important one in the case of Baidu acquisition PPS, and the case also achieved the high exit of Qiming venture return. The 2008 investment in the PPS in May last year by Baidu acquisition of 8 times times the book return, IRR of about 40%, in the past time, pps a total of 10 million U.S. dollars accumulated investment.

In addition to PPS, in the just past the internet mergers and acquisitions in the year, the number of qiming cases to win the giant bat. In February this year, the public reviews the 470 million US dollar financing by Tencent, and online education web site Tutorabc, Alibaba, Temasek, and so on at the beginning of this year, 100 million U.S. dollar B-round financing. In addition, qiming a round of investment of a hi car rental also received Ctrip 100 million U.S. dollars investment. It can be said that the seeds of enlightenment in previous years sowing the seed has now entered the harvest period.

GGV Capital Jixun

GGV Capital: The Return of Dark horse to kill out the hidden public view of the trillion day technology

Mention GGV capital, most people will think of those representative projects: Crown Hao Biological, more play yy, to where nets, Tudou, green source and so on. However, if the investment return multiple to view the history of capital investment projects, trillion-day technology, the unknown company but the "Dark Horse" posture won the championship.

Investment sector is a "serious" media, so once again please the Qing branch of private data, GGV Capital in 2004 and 2010 participated in the mega-day technology A and B round of financing, investment amount of 3.15 million U.S. dollars. 2012 Trillion Day technology landing gem, according to the issue of the price of the capital received 38.84 million U.S. dollars in return, the return of multiples reached 12.33 times times.

It is worth mentioning that 2012 is the GGV capital of the "Harvest Year", this year in addition to trillion-day technology listing, Ancori and more play YY also completed the listing, the former annual return of more than 700% for the capital history of the highest, the latter became the most representative of the capital in recent years the investment case.