Lei: Institutions are the main Chinese angel investment preference 35-year-old entrepreneur

In http://www.aliyun.com/zixun/aggregation/6934.html "> Internet entrepreneurial World Lei the name is not unfamiliar, in fact, in the angel investor sequence also has a place." As one of the founders of the Angel Club, Lei's card shows his identity as a partner of the Fund, a VC that manages 225 million of billions of dollars. In a subsequent interview with the China Business newspaper, he talked about the pressure of an angel after the institution of the Angels. Lei that angel investment in addition to economic value, more important is social value.

Q: I noticed that your business card today is Shun fund, is this an angel fund? What do you think of the tendency of domestic angels to be institutional?

Lei: Shun is our newly established dollar fund, is the scale of 225 million U.S. dollars venture capital fund.

The pressure will be great when the angel investment is structured. From the experience of the world's investment industry, Angel Investment is the main force of individuals. Angel investment is starting from friends, because Angel investment is really a little difficult. Why is the main force of the Angels around the people? The main reason is to reduce costs, such as the document more than 10 dollars is done, this is out of trust. The world's main angels are individuals, while Chinese individuals are not much, many institutions.

Q: What do you think of China's Angel investment environment at present?

Lei: Ten years ago, the funding channel was narrow, and most entrepreneurs couldn't find the money. Today there are a lot of hot money, entrepreneurs relatively easy to get money. The biggest problem is that the credibility of the community is too high, it is not easy to get the angel investment. I cast 20 dozen in 5 years and 35 in a year. In addition, the existing law is not suitable for angel investors, such as "Company law" including the registration process, such as the signing of the shareholder site, if it is a few angel joint investment, it is difficult for these people to gather together, but also to sign, and even must be on the same piece of paper. This can be improved place, can also sign fax confirmation, need to amend the regulations.

Q: Now the angel is very hot, many people also run to be angels, either already doing, or on the road to be angels. What kind of person do you think is more suitable to be an angel?

Lei: Although Shire criticized Angel investment as not a charity, I think entrepreneurs like Zeng Liqing (co-founder of Tencent), who do not want money, are the most important way to repay the society by making investments. We should look at this problem from the perspective of supporting social entrepreneurship and supporting the progress of science and technology.

I've been concentrating on Gold mountain for a long time and I haven't invested in it. Before the company reaches a certain scale, it needs to turn itself into an entrepreneur. For the entrepreneur, the first is to get the first money to start a business, the value is very high, and secondly can bring experience, contacts and credibility, angel investors vouch for you; The entrepreneurial resource style is different, each has its own strokes, but the overall feeling of the project judgment is relatively accurate. In short, a successful entrepreneur is an angel of good material.

Q: Angel investors are generally considered entrepreneurial partners, how do you deal with the relationship between entrepreneurs, what experience can be shared?

Lei: As far as my personal style is concerned, I don't pay special attention to the business model, but to the market size. On the big company, not to do 35 million yuan to sell the company. About people, the average 35-year-old entrepreneur, they have experience, college graduates do not vote. This is because China is a competition for executive power, not to the era of creative scarcity.

If I am different from the entrepreneur, I will listen to him, even if the entrepreneur is wrong and listen to him. Because they think about it every day. When investors disagree, entrepreneurs become cautious. But entrepreneurs are not good entrepreneurs who are consulted on everything. In general, Angels are a bunch of friends, learn from each other, for angels, the real thing is to learn from the entrepreneur, know what the forefront of the founders are thinking.