Lenovo Star Lu Gang: Next year still cold winter entrepreneurs need to prepare early

July 13 News, Lenovo Star Venture capital general manager Lu Gang in the "entrepreneur" magazine held the Black Horse contest, said that more than VC began to focus on early projects, but this year angel investment began to slow down, adjust the pace, he suggested that entrepreneurs should prepare for the winter. Lu Gang said that the current VC hot a lot of industry competition intensity, but also brought the price of the high, VC is also deeply hurt. "At this time, a lot of VC are looking for early, the number of early projects may be more, and the price will be relatively very cheap, but also launched an early investment." "Lu Gang said," 2012 In fact, the Angel also began to slow down, the Angel also said last year more investment than, this year began to grip more tightly, began to adjust their pace.　　"He expects the economic outlook for the next 2012 years and 2013 will not be too good," he said. Lenovo Star Venture capital general manager Lu Gang record as follows: Very happy today to have this opportunity to participate in the Black Horse contest and I black horse activities.　　Today we talk about how to maintain the rhythm of entrepreneurship and fundraising under the market, where these rhythms come from, simply share with you. 2011 has passed, but let's see what happened in 2011 years. In the 2011, the subject of the angel suddenly became particularly hot and could be seen.　　This is the main credit of our New Wengwen president, he pioneered this topic, because he focused on the entrepreneurial environment, the early entrepreneurs can not get these VC money, to give their money is an angel, so in the eye of the angel this crowd. In the attention of these people, Lei and other people unusually active, in fact, has greatly promoted the importance of angel investment and the heat of the topic.　　Including the innovation Factory, the institutional angel, along with the personal angel, can pull this topic deeper and farther. In 2011, the topic of angel investment will suddenly heat up, even a reporter will ask, this angel investment is not overheating such a problem. In the end is not hot in fact, we also need to look at some of the main data, there is no statistical data, we observed that in the media with the popularity of the report, the speed of angel investment and the current is far from the status of this heat.　　It is still very much, but the investment is relatively different from the social demand is very large, there may be more than 10 times times the difference, this is the case of angel investors in 2012. 2012 VC As the next stage, they are also very lively, in 2012 there are more than 1500 investment cases, is 1.77 times times 2011, the investment amount is 13 billion U.S. dollars, is 2.4 times times 2010. So what's the situation? It is that capital is overheated and the project is very competitive. Some industries in fact there are some very fierce competition, for example, we all know group buying, thousands of wars, and some of the electric business, mobile interconnection, theseare very competitive. Now look at some Internet manufacturers and smartphone-related manufacturers are also moving into the smart phone industry.　　I have joked with some people, I said that maybe 2012 years or 2013 will be the case of thousand-hand guanyin, we are doing mobile phones. In this highly competitive situation, in fact, VC heat a lot of industry competition intensity, but also brought the price of the high, VC is also deeply hurt.　　At this time, many VC also are looking for early, the number of early projects may be more, and the price will be relatively very cheap, have launched an early investment. I have just attended the year-end forum of the Qing Branch, their years of data has come out, the 2012 temperature plummeted. First of all, VC equivalent in terms of investment, compared with the 2011 is basically halved. We also do early VC investment, so we have an experience, for the investment industry, there is a sense of rhythm, for the performance of the capital market, if the high, the next six months will bring equity investment market quickly up, but if down, it will probably delay six months time down,　　This is the pace of investment, for investment companies.　　And for an angel, he should not be particularly obvious with this rhythm, so you will see, at present in the angel is relatively hot, we will also observe, 2012 in fact, Angel also began to slow down, Angel also said last year, more investment than the beginning of this year, the hand grip more tightly, began to adjust their pace. If you want to make a good financing, we must understand the capital market and the rhythm of investment institutions. They raise money when it's hot, they invest when it's cold. When the hot time is willing to pay the person to be more, when the cold time this profession mentality relatively will be better.　　It's cold now, my feeling is that cold is actually a good thing, after the return to rationality, whether for entrepreneurship or for investment, it may be a better window period to come. 2011 We have heard such a word, that is, as long as standing in the tuyere, pigs will fly up, so last year, many different sizes of pigs flew up. 2012 The wind is still scraping, but the air volume is very small. Fly in the sky pig or pig, have no wings, must fall down. In 2007, before the financial crisis came, Lenovo invested more than 100 companies, when we were in the second half of 2007 years, we held a meeting, then reminded them that the winter may be coming, we have to prepare for the winter, the time to save money to save money, the control of expansion will be controlled expansion, After about three or four months the financial crisis came. Over the past two years, the 100 companies we cast have not been closed or frustrated, so it is important to judge the trend.　　Now you can feel the economic situation, the East Coast export situation is still not optimistic, which is reflected in the investment circle, why the temperature of investment suddenly fell. For everyone to remind youIs that it is more necessary to have a sense of rhythm when starting a business or raising capital. Still pay attention to put on clothes, we are not so clear now, the next 2012 years, 2013 will be what economic prospects, but certainly not too good, cold to what extent, we are not particularly clear. But have a cotton-padded jacket is certainly good, so to adjust hope, seize the opportunity.　　Like today's dark Horse contest, take the opportunity to promote your project with angel investors and get a variety of investments. Just now the cow president mentioned I black Horse net, in fact, I think is a particularly good platform.　　What was the most painful thing about being an angel investor in an early-stage enterprise? We are not in touch with these most extensive early projects, I now basically fly out every week, want to deal with these people, find a good project, and the good project can not find a good angel investors, this is the biggest distress in the seed period. In Silicon Valley there is a saying that the distance of angel investors in Silicon Valley is within a two or three-hour drive around the home, and their coverage radius is limited. That's why angel investment is harder to do on a large scale, and basically angel investors are getting project resources on their own network and personal influence.　　And with the early I black horse this docking platform, I think will promote our early enterprise and angel investors will have a better opportunity to contact, I hope you can actively in this platform to find their own a suitable investment and the right to raise the object. There is also a 2011 "Pig Fly" and the 2012 "pig off" down there is a relationship, the entrepreneur must have a long-term vision, short-term behavior must be undesirable.　　Be sure to know what you are doing, now the economy is not a lot of money to burn the environment, so this time to get the money to live long. To choose a less eager investor, he wants to understand that early enterprise is to go through a relatively long period to develop and grow, rather than say today I vote you, tomorrow let you buy, 34 let you listed, this is a bit too anxious. Be able to accompany the common experience of some of the wind and rain investors to have a calm mentality, and in their support to grasp the pace below. This rhythm is not only to get the money, but also include what they are going to put into the product, including market input. It is very important to achieve the product, temper the team, and temper their core competencies. What does the investor most fancy in this process? The most fancy is the ability to learn in the middle of the process.　　This kind of learning ability for the entrepreneur, not only to learn some external knowledge, but also to change their company's growth mode, to have a better mentality. Finally, a brief introduction to Lenovo Star, Lenovo Star is a very distinctive angel investment agency, we are Lenovo Holdings under the business company, starting from 2008. After 4 years of exploration, starting from 2008 to do free venture capital, to 2009 Angel Investment, to 2011 we began to do entrepreneurial platform. We spend about 20 million a year, a trainee, our special training class, we will probably spend 15 to 200,000 of the cost.　　What's more, this investment takes some real-life courses and gives them intellectual growth, which we started with Lenovo as an expense. Angel investment is to some extent investment, this investment we now have three aspects of the investment theme, there are biological health care, TMT and advanced manufacturing, at present we have about 30, nearly 200 million yuan, 60% are as the initiator and everyone together to create the company.　　There is also an open platform, more mutual benefit, the introduction of a variety of entrepreneurs may need resources, including entrepreneurship Magazine and Dark Horse, are our special important partners.　　I would like to share these content, thank you very much, I hope you can get better development in 2012 and 2013, thank you! (This source: NetEase Technology Report)