Shong: Venture capital is like Baoyang other's children

Sohu--Comprehensive portal July 2000 in the United States on Nasdaq-listed Ctrip-China's largest tourism e-commerce site in December 2003, Nasdaq-listed Kingdee-domestic well-known software providers, and provide software-related management consulting and technical services Tencent listed in Hong Kong in December 2003--Instant messaging technology and value-added service providers listed in Hong Kong in June 2004 there is a mysterious force behind the big companies that the Chinese people are familiar with. IDGVC, a VC in the field of the leading boss, in the domestic venture capital market to create a VC domain myth. IDG Technology Venture Capital Fund (IDGVC) was founded in 1992, as the first to enter the Chinese market, one of the U.S. venture capital company, IDGVC has become China's venture capital industry leader. IDGVC has invested more than 100 outstanding start-ups in China, and more than 30 companies have publicly listed or merged.　　In the past 2006, IDGVC, for the 5th time in a row, won the best venture capital institution in China for the last three years, with the success of its investment in Nasdaq, a listed company. In the IDG office in Beijing, Pole Chinabyte met the global senior vice president of IDG Technology venture capital and Shong, President of IDG Asia. He said IDG currently controls a total of 800 million dollars in investment funds, of which a total of 100 million of the Fund in 1993-2003 this settlement period reached an annual average of 36% of the return, while another amount of 100 million funds from 1999 to start investment, so far the average annual return is also 45% About。　　In the field of venture capital, such performance is undoubtedly proud.　　The power of a model from scratch is endless. The companies that were mentioned at the beginning of the article are the projects that IDGVC the first fund in China. Looking back on early investment, Shong deep feeling. "The first fund in Shanghai did not vote, and Shenzhen investment is more." The reason is that when the Shanghai people do not like entrepreneurship, and Shenzhen because it is a city of immigrants, entrepreneurs more, the information is also more.　　Therefore, the first fund of Tencent and Kingdee are cast in Shenzhen. Now, the regional difference between the big cities in the venture capital is not so obvious. Shong jokes: "The power of example is infinite."　　"The entrepreneurial mindset has changed a lot, and the public is no longer as early as the people who do VC as a bunch of fools, they can more rationally look at entrepreneurial investment." Venture capital is like Baoyang other's kids. For the investment projects of the past year, Shong said to pole chinabyte, "any project we invest in is good." He likens early venture capital to Baoyang children. So, for IDGVCInvestment projects, he jokes: "We invest in a bunch of projects, like the adoption of a bunch of children, can't say like which do not love which." "And for the 07 IDG plan, Shong said, IDG's investment focus is still TMT industry (technology, media, telecommunications)." After all, TMT is more familiar with IDG industry, is also IDG's forte.　　A number of emerging industries, such as new energy, materials and so on, IDG is now in the wait-and-see stage. IDG in 06 a few breakthroughs, one of its investments such as home hotels in the United States Nasdaq listing, marking the success of IDG into the traditional industry.　　Investment of nearly 3.5 time, set now about 8% of the shares have achieved 60-70 times the high return.　　Secondly, in 2006, IDG transferred some shares of SouFun, and the return of investment in 10 years is much higher than 50 times times, which is undoubtedly a big myth in the field of domestic venture capital.　　Third, far-light software in August 2006 in a-share market successfully listed, became the domestic full circulation distribution system under the first listed software companies. The more money, the more cautious IDG's initial investment is 100,000, millions other, but now we often see in some media IDG's investment is tens of millions of dollars. Is this because IDG now has the money, so deep pockets? Shong hastened to respond, "IDG now in the hands of the money is much, but not random flowers." "Because the scale of market economy is constantly changing, so we now not only to invest in the start-up period of enterprises, into long-term enterprises we also pay attention to." Venture capital ultimately measures the return on investment. The smaller the enterprise, the sooner the risk, the higher the final return on investment, and the lower the return on investment. The more money, the more cautious.　　Shong's words show the investor's special and discreet. IDG Investment quality is more important Shong use IDG's investment three principle to explain IDGVC's successful experience to pole chinabyte, that is, when choosing investment projects, it depends on the size of the market, whether the products are competitive and whether the management team is serious, among which, the quality of managers is especially important. Asked why he had invested 10 years ago, Shong confessed, "the founder of the house Tianquan is a returnee, the original information service in Dow Jones, we feel that others are good, so we voted for him." "The criteria for measuring venture capital, in addition to the return on investment, are a standard that no one has ever wanted to talk about, that is, even after the launch of the venture capital, the company still exists and continues to grow," Shong said. "Shong proudly said," IDG withdrew from the company, no one broke down. This shows that the investment of IDG investment quality is good. Shong showed considerable confidence in the performance of IDG this year. Several IDG investment companies are also preparing for the IPO. It is understood that the recent speculation will be in this year's overseas listing of the good ads, IDG also participate in investment.From early Baidu, Tencent, to 06, such as home, search house and Far light, IDGVC in the field of domestic venture investment myth continues.