Zhou: Looking at micro-investment from Zhang Chaoyang

Qihoo 360, chairman of the company Zhou (data map) when Zhang Qi, Negroponte gave him a total of less than 100,000 dollars, is a typical micro-angel, micro-investment, but he changed the fate of Charles Zhang, but also changed the pattern of China's Internet in recent days, Zhou, chairman of Qihoo 360, wrote an article on the Entrepreneurial State website on how to be an angel investor. In his view, angel investors must embrace the mentality of supporting young people.　　At the same time, you have to pass on their experience to young people, in the investment time to give others help and guidance. Zhou also believes that "micro-angels" and "micro-investment" should be strongly advocated in terms of investment size, as these "pennies" may change the future of an entrepreneur.　　For example, Sohu CEO Charles Zhang, is relying on less than 100,000 dollars of "micro-investment" to change their fate.　　In addition, for angel investors, Zhou also gave two suggestions: first, the investment should have a ceiling, not too much, and secondly, should not be accounted for in the investment companies occupy too high stakes, which will not facilitate the introduction of follow-up funds.　　The following is a selection of its articles. Zhou: In China, I am definitely not the most angel investor project, nor is it the largest investment quota. My understanding of Angel investment is this: when you start a business and others help you, you are able to help more young people today. Today, the most lacking in China is angel investors.　　That's why I chose to be an angel investor. Angel Investment, I think to have a support for the young people's mentality, to have a common heart, the money to vote when it is necessary to be prepared to know that this investment is likely to earn, but more likely to pay, because investment in the early days of the company, its risk must be the largest. So, when you vote for this money, whether it's 1 million or 2 million, you're not going to have the money in your heart. If he succeeds, you are lucky.　　If you don't gamble, you pay tuition every year. Angel investors must pass on their experience to the entrepreneur. Many young people have the courage, the spirit, and the knowledge of new markets and new users, but they lack experience, connections, and resources. I found that in Silicon Valley, there are a lot of big company executives are active angel investors, they have the experience, in the investment money will also give young entrepreneurs some help and guidance. At home, such angel investors are becoming more and more, because the successful listing or selling the company's more and more people. To make a company from small to large, in fact, is really a history of blood and tears, there are many lessons of failure, there are many detours, there are many shoals and reefs.　　If you can pass it on to young entrepreneurs without reservation, I think it will accelerate the pace of entrepreneurship and innovation across the industry. China should have more "micro-angels" and "micro-investment". I think there is a misleading, angel investment if a case does not vote for tens of millions of, the angel investors seem to have no face. I oppose this value, we should encourage more micro-angels, micro-investment。 That is, everyone should not be good small and not for, you can not vote 1 million, you cast 500,000 also, cast 100,000 dollars also a lot. Do not old to compare who voted more money, than who voted more projects, so than to go without meaning. In the United States, there are also a number of tiny angels who cast 100,000 of dollars. But this money can change the fortunes of some entrepreneurs, and it may help some young people.　　Zhang was a start-up, Negroponte Emperor gave him a total of less than 100,000 dollars, is a typical micro-angel, micro-investment, but he changed the fate of Charles Zhang, but also changed the pattern of China's Internet. Angel Investment, the most important thing is to look at the person. Your investment is not big enough, these few money even the lawyer can not hire, not to mention to hire what finance, accounting firm, audit or something. To see a person, in fact, more often is to make a few phone calls, do some background understanding, and then with the entrepreneurial team to do an exchange.　　Depending on your feelings, you like him, you can not talk to each other, these guys are not need your support, talked a few times, feeling came out, so I think the most important thing is to see people. In addition, I have several propositions: first, I advocate the amount of angel investment not too big, because after all, the risk is higher, you are not willing to put all the money on a project, in the event of failure you may lose will be relatively large. So I suggest that no matter how good a project you have, you should have a maximum limit when you vote; second, you should not be too high, otherwise it may have some adverse effects on the future refinancing of the enterprise. For example, some traditional angel investors own 70% Holdings. Later investors will have more concerns. And you take up a bigger stake, and the risk is actually on you.　　Therefore, the amount of a project should not be too big, the proportion of not too much, but can continue to invest more than a few projects. (The article is from the entrepreneurial state, there are changes)