VC Travel Investment Misunderstanding: Casting products or companies dare to try the wrong

First, what kind of industry is the hand-travel industry? The game industry is running fastest in a new field "fast" in the hand circle is very obvious, research and development fast, fast, plagiarism fast, change skin fast, but also the fastest failure. This fast word, a lot of VC can not adapt, especially large institutions or industrial funds, your slow pace restricts you to grab a good team, a few months back and forth, bargaining, legal process, and eventually lead to a good early project you also spell what "Angel", after all, the Angel spent is their own money, give not to give a quick word, and VC you have to study again, to go through the partners nod, and even how much to cast the impact of the LP. And for the entrepreneur, if you can not get the money in time to work, may be their own projects from a little meaning of the product into a stall goods products. How long is the window period of the investment hand tour industry? Gamelook think this year, next year there are opportunities, but the more difficult, if the VC hope to rob early projects, many years after not regret missed this round of quotes, to think about the problem is how to make their own decision-making faster, to adapt to the fast hand travel industry. If your decision-making process is really not up to speed, you may want to give up 2/3 of the investment possibilities, or select the middle and late projects. How fast? Be bold enough to solve the problem by yourself first. For example, Company registration, as a VC why do not you prepare several shell companies? Dig a hole and let the team sit down. Dollar fund? If you have the conditions to exchange the renminbi first, make a ready-made cash pool to exchange good renminbi, to vote for a project, directly from the present. There are a few things that entrepreneurs have to bargain with you: How much is the valuation? How much does it cost? equity ratio? Buy-back conditions, and the terms of the gambling, talk about it is nothing but these things? You can make a contract template, to allow both sides to fill in the blanks, the third party's law firm to draw up the contract to ensure that both sides of the fair, do not leave a trap for the entrepreneurial team to rest assured. If you want your money, the entrepreneur just needs to sign it, and the next step is to take the stock transfer process and simplify the steps that occupy the time and energy of the entrepreneurial team, so that the entire investment process can quickly get into development. Second, how to vote? need to differentiate, but to dare to start, accept a certain failure rate you have to understand the hands of the circle a common situation, a lot of failed companies, failure of the project more, there is failure of the company is not necessarily a failure of the company, Gamelook can lift at least 10 companies that have failed products but have been successful in the end. So you have to find out whether you are going to invest in the company, or the product, although the successful company must have a successful product, but this is not a complete peer relationship, I believe that you are to invest in the company rather than the product. How do I vote? I think there are three different kinds of circumstances, to give different money. The first category, seize the opportunity of such projects, there is a feature, to spell character, spell the day, time for its most valuable. Whether it is to use a copycat, or micro-innovation to define such a team and project, this product is clock, missed the opportunity, you can no longer copy the useless, who can be the first to face, and the realization of a reliableCommercialization is the key to its success. So for investors, ask for one: Start fast, give money quickly, develop quickly. The project is characterized by the absence of the same type, may have in the overseas market can be copied or improved the success of the object, but the product cannot be complicated. The team requires the experience of developing a complete product, and success stories can be nothing. Investment capital amount: Hundreds of thousands of ~100 million. The second category, the spell execution, spelling differences in such projects, the speed of development has some impact on success, but the team members have a certain requirement, must be a few years of work experience of the more mature team, team leader more as the original company's important positions, but not the person in charge, have the best experience of successful products. Most of the products have some characteristics, can find the possibility of differentiation of similar products, and can complete more complex medium-sized products. Here a certain development experience + vision is the decisive factor of success. Investment capital: 2 million-5 million, enough to develop 1-2 medium-sized products, or 3-4 lightweight products for trial and error. The third category, experience, comprehensive ability of such projects, team leaders are most successful game product core members, or team leader, has led the project development and operation, and has many years of team management experience, this experience can not only help the team to successfully complete the product development, It also helps the company to become a growing company from a product team. Ruthless choice of the theme of the difference in the ability to Polish products, and has a certain industry connections and industry reputation, can improve the likelihood of success of the company. Investment capital Amount: 5 million ~1000 million, enough to develop 3, 4 medium-sized products, or 6-7 lightweight products, allow multiple trial and error. Third, what is the situation of team failure? gave 2 kinds of money, but the team want to do 1 kinds of plagiarism, repeated failure of the reason, is the team become larger, the implementation speed is not determined, missed the best time. And even if you cast 1 categories, 1 groups because of slow execution will also encounter a certain setback, resulting in missed opportunities, and timing is the most critical factor. 2 types of projects are prone to problems, that is too believe in themselves, biting, the first investment is too big, cut the project is not decisive, in the first product failure of the transition slow, depleted of cash. 3 types of projects are Star team, easy to encounter problems, that is, less funding, because less money, leading to a shortcut to copy the skin, which is not afraid to invest under the heavy note has a direct relationship. Four, investors easy to make mistakes for VC, easy to commit the problem is, can not judge the team, the product belongs to 1, 2, 3 which category. Easy to form a solidified investment way, for example, like betting 2 categories, dare not bet 3 categories, and extremely despise 1 groups of small teams. VC easy to appear only to the team to do a product of the money situation, this is not in line with the characteristics of the high failure rate of industry products, the team finally tried the wrong one, although the lost but accumulated experience of the valuable, hand tour industry has not yet window period, but because there is no money can not continue to develop a second product, the team was forced to disband. Gamelook that, a fund that dares to strike, can carry on the combination type investment, for example 1 class throws 5-8, 2 type throws 2-3, 3 class casts 1-2, altogether spends 30 million or so, may try 6-10 team, forms one echelon investment plan, namely invests the cock silk, also invests has the responsibility the false Gaofu. For slow decision-making VC and industrial funds, you can try 2 classes, 3 types of combination. Angels try more than 1 classes, 2 classes, 3 types of projects in fact some team members own money is enough to establish early funds. about how to judge the team, the product, limited to space, the next opportunity to decompose.