Zhu Linan believes "rich and Youdao"

Abstract: Lenovo investment President Zhu Linan intently looking at the big screen, which is his 11 years ago photos. The day was September 30, 2001, when Lenovo invested in Beijing. At that time we did not have any reputation in the industry, LP and only Lenovo holding a home. Zhu

Zhu Linan, Lenovo's chief investment officer, stared at the big screen, which was a picture of himself 11 years ago.

"It was September 30, 2001, when Lenovo invested in Beijing." At that time we did not have any reputation in the industry, LP and only Lenovo holding a home. Zhu Linan told the first financial daily. In retrospect, Lenovo's brand value was nothing but Lenovo's first investment.

On February 16, 2012, Lenovo Investment decided to give up "Lenovo" this brand, renamed as June Lian Capital company. "On the one hand, Lenovo investment is easy to confuse Lenovo Group, Lenovo Holdings, not conducive to our investment industry as a professional brand, on the other hand, we also want to build their own brand connotation and influence." ”

From the first phase of the fund 35 million U.S. dollars, to the current management of the renminbi plus the United States dollar total about 13 billion yuan. The size of the fund management that grows in geometry multiples is the biggest "emboldened" of Lenovo investment renaming.

From Beijing to the country

Since 2001 Lenovo investment registration and the establishment of the Office to 2003 the first renminbi Fund collection completed; From 2004 Lenovo Investment Enterprise Medium News Software (00299.HK) to become Lenovo Investment first Hong Kong board listed companies to the Social Security Fund investment; From the establishment of the gem to the cultivation of 20 listed enterprises ... The growth of Lenovo investment, from a certain side, represents the development of Chinese-style VC process.

"The overall performance is still good, the current Lenovo investment has a total of 5 dollar funds." Our fifth issue is 500 million dollars plus 3.5 billion yuan. The first and second phases have fully entered the harvest period, and all the principal is recovered, and the return is distributed. Zhu Linan says the first-stage fund returns more than 7 times times the rough estimate. In China's local VC, the return is higher. "The most important thing is that these 11 years, we are still running in accordance with the mentality to do things, so in addition to the investment performance, how to cultivate the team." ”

Lenovo Investment Partners, from the initial 3 to now have 14 partners, there are more than 50 senior professionals. Office location, also from the original Beijing office, expansion of Beijing, Shanghai, Wuhan pillars, meaning that Lenovo investment from a Beijing venture capital agency, expanded into a national venture capital institutions.

To give up the "back Tree" good shade, Zhu Linan frankly need guts. Lenovo is one of the most influential brands in China. "Everyone agrees with Lenovo's brand. Many of the companies that are being invested are just accepting us for Lenovo. "Zhu Linan recalled the founding of the beginning, frankly blunt," when it was established, I and Liu Zong (Liu) to discuss whether to go out to raise some money, he said forget it, they have not to practice good, do not put their money spoiled, first take their own money to try. ”

After a good return on the first phase of investment, Lenovo Investment began to raise external, only 4 external LP (limited partner), and now the LP has increased to more than 20. Lenovo's share of the stock is gradually falling, but the total investment is still increasing, as the fund is constantly expanding.

In the first few years, Lenovo's brand is self-evident about the importance of Lenovo's investment. But with the hkust flying, horse sports, Evans Innovation and other 20 listed enterprises in the global capital market landing, and a number of mergers and acquisitions exit, Lenovo Investment has formed a relatively independent image, Lenovo itself is also relatively small borrowing power.

But the outside of the name of misunderstanding again and again let Zhu Linan ironic. When Lenovo took the news of Chen's leading agricultural investment, a board member asked Zhu Linan how to do farming. "Whether it is Lenovo investment, or Lenovo Group, the foreign media directly into Lenovo, because of the impact of Lenovo in the world more, so there will be a lot of confusion." Lenovo is also investing in core assets, although the investment behavior is not the same, but if used, it will be a bit awkward. Zhu Linan began to feel awkward.

After discussing with Liu and getting approval, Lenovo investment began to enter the name of the preparatory period. Nearly 2 years of time, did a very detailed communication and research, and finally decided to change its name to the Royal Union capital.

Brand effect

As of January 2012, the Royal Joint capital registered nearly 140 companies, of which 20 were in the United States, NYSE, NASDAQ and Hong Kong Stock Exchange, Taiwan's regional cabinet Buying center, SSE, Shenzhen and Gem listing, and another 11 companies through mergers and acquisitions way out.

In addition, in line with the listing of enterprises this year, there are 7 queuing enterprises are invested by June-Lian, including queuing SSE de, linglong tires, queuing up the formation of SME education, Yi Tang Pharmaceutical industry, and line up the Gem Crystal, ishares information, NSFocus.

Through 2 years of carding and precipitation, in renaming the same time, June Lian capital to re-establish its own brand value. Communicate with investors.

"I was not corporate VC (Enterprise Investment), just changed the name, but no one thought I was corporate VC." Although have Lenovo to participate in, do my LP, but we really are not corporate vc,corporate VC typical features are both for the enterprise strategic Services, but also to obtain financial returns. For me, it is the sole purpose of investors to get financial rewards. ”

Zhu Linan told reporters that by renaming, June Lian Capital redefined the core business, positioning in the start-up period and expansion of the growth of the investment enterprises. In the industry, it has continued the previous investment types, including TMT, clean technology, health care, modern services, consumer goods and advanced manufacturing industry in six major industries.

"We don't want us to be a very good, short-lived company in some funds," he said. "For the brand effect, Zhu Linan believes that on the one hand, long-term sustainable for investors to create returns, on the other hand, have their own brand philosophy, investment philosophy and corporate strategy, as well as corporate organizations." "There is really a connotation inside, can be regarded as a real brand." ”

The change of name, coincides with Lenovo Investment first and second fund into the harvest period, but also the first batch of local VC funds to enter the harvest period of the day. Establish a brand, is becoming a common demand for local VC.

Zhu Linan believe that "rich and Youdao", the history of the 11, it is only to complete a fund cycle. For the brand establishment, Zhu Linan that must undergo several cycle harvest period, can establish good word-of-mouth and brand style. Just renamed the June joint investment, is still in the starting point.