Shaw: The entrepreneur behind the entrepreneur

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"The biggest reward for Dragontech was Suntech. "Sitting in a tea restaurant in downtown Shanghai, Shaw leisurely.

Shaw is now a founding partner of Germany and capital. March 2006, and the old partner Lixin co-founded the German capital. At that time, the two people in the Shanghai industrial-owned Dragon venture is under intense media attention, its investment in the private enterprise Wuxi Suntech landed in New York stock market, shortly after its founder Shi was chased into the interview, the behind-the-scenes investors were pushed from behind the scenes, Shaw also became the target of the spotlight.

On the Dragontech of the next investment plan, the two men decided to start their own business when people waited for their second shot – the establishment of the German-Chinese investment Fund (DT Capital).

Wuxi Suntech's successful listing has created a new generation of China's richest man, but also broadened the focus of venture capital, but the "Suntech Success Model" is difficult to replicate. "We are not trying to replicate the solar energy experience, but want to replicate this forward-looking." Shaw said to the first financial journal. But the Suntech investor believes that new energy and energy-saving technologies will expand into a huge opportunity for future investment.

Replicate proactive Success Patterns

Suntech's IPO is a winning situation, with its Chairman and chief executive as the "richest man", the company has entered the next round of development, and investors at Goldman Sachs have also started to retreat, building a house of their own in Los Angeles and covering it with Suntech's solar power, and Dragontech's Shaw has also launched his own career, the establishment of Germany.

The success of Suntech's case is attracting many entrepreneurs to follow Shi's footsteps. But Shaw believes Suntech's success is hard to replicate because of the 3-5-year cycle of venture capital investment, and the continued pursuit of solar projects is unwise. "Not necessarily in the solar field, we are not trying to replicate solar energy experience, but rather want to replicate this forward-looking and tap into other areas." ”

Timing and mentality are both, is Dragontech before the management decided to step out of the Dragon Branch, the founder of the reason for virtue.

Founded in March 2006, the German capital raised 130 million dollars, and currently has four partners, Shaw and Lixin are managing partners, and the Zhao from China Venture Capital became another partner and joined in the financing of Germany. The Wharton family Shaw and Lixin plans to prepare for Germany and the U.S. institutional investors in Europe and the United States to raise funds at the end of the period, asked to invest 25 million of dollars.

According to Shaw, the new fund will invest in several areas: first, the Chinese consumer market, providing technology solutions and products, including the use of the Internet in the vertical industry, digital products, chip design and new media. There are also the upgrading of traditional enterprises, energy conservation and environmental protection and alternative energy technologies. Include value-added services in the first category. Dragontech 2002 investment in the Dragon before, has a number of value-added services enterprises to conduct research, the final decision is in the handheld and the two make a choice between the news and dragons. Although Dragontech chose the Dragon, but the communication with the PDA has been continuing, the direct manifestation of this effect is that the first company to invest after the establishment of the company is the Li Haisu co-founder of the joint venture-Shanghai 51 car.

To date, the three major investments in German-capital investment include: The 51 car network, which serves second-hand cars and combines traditional business with magazines and the Internet, was invested by Tars, the head of the company and Asia Groove, tars the younger brother of SoftBank's founder son; the second project is still related to the auto industry. , is a car insurance online direct company-"Car Alliance", by Germany and several other companies to invest together, the last one is in Beijing, the apple of mobile gaming companies, three companies have invested in the amount of 3 million U.S. dollars.

Once the ice-breaking trip

After leaving the Asia Pacific headquarters of Merrill Lynch, Shaw has been in charge of enterprise and project finance in Shanghai industry. 1998 founded the Shanghai Industrial and Salomon Brothers Company joint Venture Asset Management company, established in 2000 and the management of Lung Division ventures.

Dragontech's initial investment direction was TMT (Marvell, Media, EADS), which financed 66 million of billions of dollars. Such a scale, can only be regarded as a small venture. Dragon Branch was founded in 2000, is the United States internet bubble burst, the global network of stock distribution-the Nasdaq listed many of the company's shares subsequently fell sharply or even retreated. This is undoubtedly a severe test for the newly established Dragontech.

After investing with Intel VC in China Branch International, Dragontech received a single investment in the Dragon. January 2003, is looking for a new type of profit model Sina announced the acquisition of the Dragon, the price of 20.8 million U.S. dollars. Sina, then, has not been completely out of the shadow of the dotcom bust, and its share price in Nasdaq has been hovering around 5 dollars. Therefore, in the Dragontech and Sina's acquisition agreement, the two sides agreed to use cash to pay, half of the use of shares to pay. This means that Dragontech and the first to do a good balance of interests.

Venture capital is more inclined to put real money into the bosom after the cash, instead of turning the risk of the left hand into the right hand. Some of Dragontech's shareholders favoured cash payments, while dragon entrepreneurs, instead, got the shares and set them up when Sina's shares were close to $40 trillion.

In Lixin view, at that time not only is the Internet, including the venture capital industry is also a piece of ice, worry a lot, very inactive, there is no exit incident, the case of the Dragon in the 2003 venture capital market has a larger model effect. At the same time, in the value-added business area of focus, for Shaw and Trinada after the first investment to lay a foreshadowing.

The Harvest of the Dragon This single, greatly inspired the team's morale. Only 4 months later, in May 2002, Dragontech and Warburg Pincus again invested in the Harbour network, totaling $42 million ($ 5 million trillion in Dragontech investment) and a 35 million-dollar bank loan arrangement for the Harbour network.

Harbor network start-up by the industry's unprecedented attention, whether it is "Li out of Huawei" and "out of Huawei's Li" are the subject of speculation. After the Tian introduction of the CEO of Netcom, the Dragon Branch contact to the harbor, whether the core team situation or the authority of the recommender, the conditions of the harbour all meet the investment practice of venture capital. As a result, Dragontech and Warburg Pincus in May 2001 to invest 19 million dollars in the harbour (Dragontech investment 6 million U.S. dollars).

Whether it was at the time of the founder of Warburg Pincus (after leaving for the managing director of Carlyle Investment Group), or Shaw, has served as a director of the Harbour Network, the project held high hopes.

Later, the harbour listing frustrated, the sale was blocked, finally by Huawei acquisition, many things are beyond the scope of the parties can control. In terms of financial returns, this (harbor) may not be a very successful case, Shaw, but "from the technical content and the integrity of the team, the harbor in a few years of rapid development, far more than similar enterprises."

After the port network was acquired by Huawei, the unexpected outcome made Dragontech and Warburg Pincus the focus of attention. The port network is able to rise rapidly in a short time, two investors to inject money into the work.