Zhang Lei is a man who cares about money.

The 1972-born man of Henan, who was 33 years old, founded the high Jianling capital at the 30 million dollars offered by the Yale University Investment Fund Office (Yale Endowment). According to the U.S. Securities and Exchange Commission (SEC) public information, the agency currently manages the fund 7.766 billion U.S. dollars, its own market value of 912 million U.S. dollars, since its inception the annual compound return of up to 52%, and the company employs only 35 people.

Zhang Lei is a person who can spend money.

In early 2010, Zhang, who donated 8,888,888 dollars to the Yale School of Management in his capacity as Yale's 2002-year graduate, made a personal donation record for the school's graduates. This munificent let Zhang Lei overnight become a controversial figure, high Ling Capital also float on the surface, become the focus of attention. At the beginning of the following year, Gao Ling Capital from many investors killed, announced to the east to provide 150 million U.S. dollar C-round financing, accounting for 1.5% shares. Zhang then led the initial impact on the IPO, but was drubbing by low valuations.

In 2013, the Asia cloth China Entrepreneur Forum, a low-key Zhang Lei first disclosed the insider investment in Jingdong. According to him, Gao Ling Capital is one of the first three major shareholders in the east of Beijing, and is also investing in additional investment. Liu found Zhang Lei only want 70 million dollars, Zhang Lei replied: "If you only 70 million, I will not vote, to cast 300 million." He identified Jingdong's business model as "a business that needs to be burned", without burning 2 billion of dollars to form a core competency. And the style of high jianling capital is precisely "less times more", invest heavily in a few enterprises, rely on long-term earnings earnings.

' The relationship between investors and entrepreneurs is like husband and wife, 1th to be honest, ' Zhang said. Both sides of the dating period, their own goals, style, advantages and disadvantages of light out, do not expect to change after marriage. "I hate being pleasantly surprised and what I see is the most important thing," he said. "We have a lot of investments all over Asia and I really don't have time to play games." "He calls himself" a man with a lot of money, "he said.

He thinks Liu is "very real". "In fact, we had already figured out what mode to cast, and anyone who wanted to do it, we wanted to vote for 300 million dollars, but we just couldn't find one." He said, "they all said to do the light asset model, do the Internet brand, because VC like this set, I thought you do light assets how could have done Alibaba?" Ma Yun is entrepreneurial genius, not to mention you 10 years later than others, how to play with others? "Only Daiju told him plainly that he was going to be a self electric dealer and a supply chain." So we voted. "said Zhang.

The 2nd he valued was perseverance. "Other investors in Jingdong, like us, will not be nervous about the volatility of today's capital markets and the media's failure to sing tomorrow," he said. I can tell you that the first few big investors are all in the additional investment, we really believe that this thing is changing China. "I have friends who have asked Amazon founder Bezos what is the most regrettable, and what he regrets most is that when Amazon was founded, UPS was already very big and he had no chance of reorganizing the supply chain." There is no ups in Jingdong, and the whole set is on its own, and we are willing to pay for them. ”

Jing Dong 8 consecutive years of losses, Zhang Lei said in the expected. There are 1 million ways to die in this electric business. Even if we lose 300 million dollars, it's only two or three points in the whole fund, which is insignificant to me. We're betting on the most trustworthy thing, "he said. He hopes to continue to deepen the Beijing-East moat, rather "all the world's consumers, suppliers say Jing Dong silly," and not to profit prematurely change the company's strategy and ideas. "It's not up to you to decide how much money you can make in this business model, it depends on how much value you create to the community and to the consumer," he said. "he said.

Zhang Lei is famous door. He was admitted to the People's University in 1989 as an international finance major in Henan province, and went to the U.S. for further study in 1998, under the David Svensen David Swensen, head of the Yale Investment Fund. Swanson, who has been on Wall Street for 6 years, has served as senior vice president of Lehman Brothers and corporate finance partner of Salomon Brothers, returning to Yale to invent "Yale model" to create a new era for the Yale Fund. From 1985 to 2005, the fund grew from 1.3 billion dollars to 14 billion dollars and a net increase of 12.7 billion dollars. PEI, the world's leading private-equity investment fund industry, selected him as the second most influential member of the global PE industry, after former Fed chief Alan Allen. Greenspan。 The Chinese version of Swanson's book, "Innovation in institutional Investment and fund Management", was translated by Zhang Lei himself and published at his alma mater National People's Congress press.

According to the SEC's information, high Jianling Capital 2013 held the first 5 digits of Mondelez (Kraft Food subsidiary in China), Ctrip, Sohu, New Hao Melco Entertainment and Yahoo, the highest proportion of the four companies in turn are the new Hao Melco, where, state digital and auto. Where, where to go the net in March last year, without the lack of funds to accept the 57 million U.S. dollars Gao, according to the opening price, the investment book income of up to 147 million U.S. dollars, book yield 158%. Where to go, CEO Zhungchengsu said in an interview on the eve of the IPO that the introduction of high jianling Capital is more to seek their help and guidance.