Wangzen: To do business investors and pulse

Shenzhen Investment Management Co., Ltd. (hereinafter referred to as "Sky map") partner Wang Cen is always a pair of bright, energetic appearance. Every time the investor reporter sees him, whether at the site or in the office. As a typical investor, his work time is always so full that the interview is delayed and the interview can only be done by telephone. "In my life, there really is no weekend, the concept of holidays, we can not endure a few days to rest, continuous work of the state." When the reporter asked about his national day arrangement, Wangzen Frankly, he and his colleagues do not have a so-called holiday, and do not have much time to rest. As an investor, my life circle is very narrow, I think I am worthy of the company and investment Enterprises, I am sorry to my parents and wife, I owe them a lot. On the other end of the phone, Wangzen finally spoke his mind. Behind the appearance of the investors, there are also many unknown difficulties, such as family and career is always difficult to both. For the Enterprise pulse in speech discourse, Wangzen's love for work is visible everywhere. In an interview with reporters, always around the topic of work, he would like to talk about his investment in the enterprise, rather than personal things. Wangzen, majoring in electronic engineering and finance in the UK, is very candid and speaks directly. Love of work he chatted about the investment of the enterprise will be gushing, such as Zhouhe, Centennial Liyuan, Tzu-Ming physical examination, the Iraqi beauty, such as the project behind, all of his efforts. According to Wangzen, they contacted a project, to complete the investment time of two months to half a year, after the investment, Wangzen also as the director of the enterprise, to provide assistance to the investment enterprises, such as the improvement of corporate governance, the staffing to provide advice, to assist its perfect sales channels, and finally, at the company's strategic level, Also to help the pulse from the angle of the third party. "In the company's strategic development, corporate focus is very important, however, some enterprises are vulnerable to temptation, outside the main business of blind expansion, into other industries, at this time, we will generally advise it to help correct the strategic direction." "The Wangzen, standing on the side of the third party Observer's point of view, will propose serious corrective actions for the company's development, if necessary." In addition, they will help enterprises to coordinate the intermediary, audit, lawyers and other aspects of work. Therefore, the rough calculation, each project after the investment management work, to occupy Wangzen 30%~40% time. At the same time, Wangzen to complete his main business-as an investor, to continue to find projects, investment enterprises. Outside of work, Wangzen has little time left for himself. "During occasional breaks, I play football and exercise, or stay at home with my wife and parents," he said. Wangzen reluctantly said that he can only balance his work and life to the maximum. The Investment Trilogy "chooses this circle and accepts it." "Although busy, but choose the investment circle, Wangzen not regret." Since graduating, Wangzen has never left the investment circle. Join the Sky Map before the Wangzen in the investmentThe group served as an executive director and, earlier, in the United States AM-TD Securities as an analytical trader. "I have been in the financial circle for more than 10 years, with financial analysts, options, futures and other business licenses." "Wangzen never hides his love for finance, and sometimes he shows pride in his past." Years of work experience, so that he has a lot of the current venture in the field of his own unique insights. For example, in his view, investment is a main line, mainly divided into the search for projects, the formulation of strategies and evaluation of the value of the project three components, investment is also a combination of science and art work, although it involves a human factor. Wangzen's investment can be divided into "trilogy": if ordered, his inspection of the enterprise into a team, industry and business model. In the specific investigation, Wangzen the team in the first place, which he highly valued things. "Most of our investment entity companies, their team's age, social experience, career path, resource integration capacity is very important to cast pure e-commerce companies will be less." According to Wangzen, in the team review, he first looked at the team's academic qualifications, more inclined to intellectual entrepreneurship, and secondly, the team has a certain life experience, the past success of his current entrepreneurial has a great impact. Whether in the Sky map venture or other investment institutions, the team's past has a great impact on the financing of the companies that they are creating. "He has been successful in the past, has a certain experience, in the physical company operations easy to deal with some difficult problems." "This is the reason given by Wangzen, in the fierce competition, the past success is to prove the ability of a person's important weight." Inspection industry is the second step of Wangzen investment enterprise. "I think that some companies that rely on quantity to win are very competitive in their industry, and naturally, there are not many returns from reinvestment, such as coal and fertilizer, so we will try to avoid them." "Compared to manufacturing, Wangzen prefers companies with light assets, which he believes are invested in research and development and branding and have potential for future development." This is not a hasty decision. Wangzen in the UK, the United States, Canada have studied and witnessed the development of foreign countries, he felt that manufacturing enterprises in the future to achieve fundamental development opportunities, and light asset companies will usher in the opportunity to rise. In other words, comparing manufacturing and consumer services, the latter may have a much greater return on investment. Finally, Wangzen will study the business model, which is also a place to discuss when investing in a company. "Generally speaking, we will fully discuss the business model, probably open 2~3, sometimes a morning, sometimes a day." "Wangzen said. In his view, the business model does not have a certain standard, there is not even a single, clear definition of the business model, so that everyone can have a sense of what it is, such as their company, several partners have several understandings, and before investing they have to agree on an understanding of a business model, Communicate fully. Specifically to Wangzen understanding, the business model is not equal to the profit model, but aSystemic concepts, such as the formation of a director's organizational structure, the grasp of enterprise processes, and so on. The work of engineering and process seems boring, but Wangzen is enjoying it. In fact, there are many factors to be inspected in the process of specific investment, each enterprise has its own characteristics, can not be measured by uniform standards. However, the more complex the situation, the easier it is to attract Wangzen attention. Challenge, but the adjustment of life. Controversy IPO in the day map of the investment Portfolio, IPO project (refers to the investment before the IPO), the proportion of the reporter has witnessed Wangzen refused such a project, which makes the day map venture with other renminbi investment institutions are significantly different. "Our portfolio is 60% of the investment into long-term projects, that is, the 3-5-year listing exit after the investment, 20%~30% project for the IPO project, 10% for early investment." Wangzen told reporters it was easier to avoid risk. It is doubtful that fast-going companies are more mature than long-term ones, and that the investment risk is not smaller and investment returns more predictable. Wangzen has a different understanding of this. "I also think that the IPO project has some value, but in my opinion, it is relatively low value." Wangzen told reporters that RMB funds chasing the investment in the pre-IPO project has its objective reasons, because the duration of the RMB Fund LP (limited partner, ie, investor) is relatively short (mostly 5 years + 2 years, or 3 years + 2 years), it requires the listed companies to market as soon as possible, so that they have to make investments before the IPO. "Quitting within three years does not mean much to the value of the investment enterprise." Similarly, I do not think that short-term unlisted companies are worthless. "In addition, Wangzen also explained the reasons for the relative stability of the project returns before the IPO," the IPO project generally requires the enterprise net profit of 30 million or 40 million, the risk is small, but for PE, actually make money is limited. "And the day map to venture, is not not to do before the IPO investment, just they have their own ideas." "We will of course invest, but the company we invest in is a business in an emerging industry that has some room for growth, such as the chain industry, the service industry, etc." "According to Wangzen, companies listed, under the necessary conditions, they may hold a longer period of time." In contrast, the sky map venture will be more long-term vision