Winning the new financial era

Chapter 397
The meeting with Luo Zhuo, founding partner and chairman of Tsingkong Ginkgo, was chosen in the business incubator of Qingmu Science and Technology Park.

Zhang Yida walked through the incubator hall where countless start-up small companies were distributed, and looked at the immature faces in the shared office, as if he had been in a lifetime.

More than three years ago, I was in the incubator of Beijing University Innovation and Entrepreneurship Center with Lin Zhenyang and his group to start a business.

But I was lucky, I got financing and moved out within two months.

Aoki, like Beijing University, also has its own science and technology innovation park and incubation center.

One of the four sub-funds of the National Small and Medium Enterprise Development Fund, the Beijing office address of the National Small and Medium Enterprise Development Fund (Jiangsu Nantong Limited Partnership) is on the 17th floor of Block C next door.

Qingkong Ginkgo Fund is the manager of this fund.

The year before last, the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the State Administration for Industry and Commerce issued bids for the "National Small and Medium Enterprise Development Fund Sub-Fund Management Institution Open Bidding Project" to invite public bids for fund managers across the country.

Qingkong Ginkgo stood out among 55 bidding agencies across the country and won the bid with excellent results.

Except for the 11 billion yuan invested by the central government, the other 34 billion yuan was all contributed by Qingkong Ginkgo and other social capitals to jointly establish this sub-fund with a management scale of 45 billion yuan.

Tsing Holdings Ginkgo is a venture capital institution jointly established by Tsinghua Holdings Co., Ltd. and the fund management team.

The specific model is that the school pays to be the LP, and the outstanding graduates of Aoki University and private equity giants become the GP.

The scale of Aoki University’s school-run enterprises is No. 1 in China. In addition to various investment funds, its school-run enterprises also include many well-known companies such as Tsinghua Unigroup and Tongfang.

On the Jingda side, Jingda Founder, Jingda Resources, and Jingda Jade Bird are relatively well-known.

Among the school-run enterprises, the largest and best are Jingda and Aoki, with total assets of hundreds of billions and net assets of tens of billions. The listed companies under them cannot be counted on one hand.

But this is all superficial prosperity. According to officials, school-run enterprises have become the hardest hit areas of anti-corruption in colleges and universities.

School-run enterprises let the vice president of the university concurrently serve as the chairman of the school enterprise, and the professor also serves as an executive. Unlike scientific researchers, professors become profit-seeking corporate executives.

Zhang Yida is very disgusted with this kind of practice. It would be fine to invest the financial allocation and donations received by the school as an LP, and the school should do a good job of learning.

However, in this society, it is hard to say that everything is based on money and earning money.

Guided by the front desk, Zhang Yida came to an office of the incubator, and met Luo Zhuo, who was full of silver hair.

"Mr. Zhang, hello!"

Luo Zhuo stood up to meet him, and extended his right hand.

Zhang Yida shook hands with him, "Mr. Luo, hello."

After taking his seat, Luo Zhuo looked around and said with a smile: "Don't blame Mr. Zhang, the first reason why we chose to meet here is because we happen to be discussing projects here.

The second is because the environment here fits very well with the topic discussed today. "

Zhang Yida was a little dazed and didn't quite understand the second point.

Luo Zhuo didn't explain too much, got up and said, "Go, let's go and have a look!"

Zhang Yida followed Luo Zhuo, wanting to see what kind of medicine was sold in his gourd.

Walking into the lobby, Luo Zhuo asked with a smile, "How do you feel about the environment here?"

"It's not bad, spacious and bright, and has the opportunity to give birth to a great company."

"Hehe, I don't dare to set such a big goal. It's good that many small start-up companies can survive."

Luo Zhuo took Zhang Yida around again, visited several small startups, and chatted with several founders.

"The National Small and Medium Enterprise Development Fund focuses on investing in small and medium-sized start-ups at the seed stage and start-up stage.

Strictly speaking, the size of Ruixin Group is no longer a small and medium-sized enterprise. "

When the two returned to the office, Luo Zhuo began to get straight to the point.

Zhang Yida nodded. The revenue and net profit of Ruixin Group can kill many listed companies in seconds, and it really doesn't match with small and medium-sized enterprises.

"However, we are still very interested in Ruixin Group. We can invest."

Zhang Yida guessed it wasn't that simple, right?

Sure enough, Luo Zhuo said again: "In addition, we hope to reach a strategic cooperation with Ruixin Group."

"What cooperation?"

Zhang Yida asked calmly, and he knew that things were definitely not that simple.

"Isn't Ruixin Group engaged in corporate credit investigation and corporate finance? We hope that Ruixin can provide certain credit support to the companies invested by SME funds."

Zhang Yida didn't speak, but began to think quietly.

After a while, I asked, "What about the number of enterprises and the specific amount of credit?"

Luo Zhuo waved his hand, "The number is not large, and there are less than one hundred projects invested by SMEs.

For the specific amount, please take your Ruixin audit as the standard. "

The corners of Zhang Yida's mouth curled up, he understood what this guy was thinking, and it was another brilliant plan of "killing two birds with one stone", well thought out.

"There are regulations in the country that P2P platforms can only lend money to enterprises, and the amount cannot exceed 100 million."

"100."

Luo Zhuo frowned, "A little less, it should be enough for these companies settled in the shared office.

But for companies that have obtained several million, tens of millions or hundreds of millions of equity financing, it may be a drop in the bucket. "

"Mr. Luo, Ruixin Group can't support the development of dozens or hundreds of companies.

Enterprises that can obtain financing should have a considerable size, and they should seek credit support from banks! "

Luo Zhuo smiled wryly, "We have talked a lot with the bank, but most of them dislike the lack of research and development results of start-up companies.

In other words, there are research and development results, but commercialization has not yet started.

The enterprises invested by the SME Development Fund currently cover multiple fields such as advanced manufacturing, new energy and new materials, and biomedicine.

In these fields of science and technology, you need to spend money and time to achieve results.

The vast majority of domestic start-ups use equity financing to play a role in the development process.

The small and micro enterprise lending market has always been a development problem. I heard that Ruixin Group has a very mature solution, so I wanted to see if you can solve one or two? "

Zhang Yida has a headache, how should he answer these words?
"Xinglongdai has been focusing on the supply chain financial market before, and after the acquisition of Weizhong Tax Bank, we entered the tax loan market again.

But for the technology sector, to be honest, we don't have a mature credit program. "

Luo Zhuo nodded, "Enterprises in the technology field are really not easy to evaluate."

He turned to look at Zhang Yida again, "But I heard that Ruixin Group intends to launch an intellectual property platform after acquiring Tianyancha?"

"Yes, there is an idea, but it has not been implemented yet."

Luo Zhuo asked again: "Can this knowledge product platform be used to evaluate the value of R&D achievements and patents of technology companies, and then grant corresponding credit lines?"

"Mr. Luo, are you talking about "intellectual property pledge financing"?"

Luo Zhuo smiled, "Yes, this is it. If Ruixin Group can launch corresponding credit products, it can benefit thousands of small and micro enterprises."

Luo Zhuo's suggestion is indeed good, and it coincides with the strategy of Ruixin Group's intellectual property and enterprise service resource sharing platform to be launched next.

Provide enterprises with the creation (application, registration, registration, etc.) and protection of intellectual property rights such as trademarks, patents, and copyrights, as well as the sale and purchase of intellectual property rights, pledge financing, licensing and cooperation, and rights protection litigation, etc.

This is what Zhang Yida wants to create, a one-stop full-chain service platform that integrates intellectual property rights from ownership to protection to transaction.

In addition, we will cooperate with Tianyancha to provide one-stop enterprise services such as company registration, domain name transaction, CRM system, marketing SaaS system, cloud service, small program customization, financial and tax agency, equity incentive plan planning, etc.

Anyway, the service is very complete. Whether it is a start-up, development, or mature enterprise, Tianyancha and the intellectual property platform can provide corresponding services.

"This is possible, but it will take a certain amount of time to build a platform and make a plan."

Luo Zhuo nodded, this is what he wanted.

The SME Development Fund will invest in hundreds or even thousands of companies in the future.

With so many companies, as a fund manager, he must carefully care for the growth of the company.

And Ruixin Group is the nanny he was looking for, to accompany the growth of the investment company together.

Luo Zhuo was quite selfish, and Zhang Yida also saw this.

But this is not important, Ruixin Group will cut into more fields to support small and micro enterprises.

Even if Luo Zhuo doesn't mention this matter, Ruixin Group will explore and try in the future.

Now that it is brought up, it is just right to use the enterprises invested by the SME Development Fund as the guinea pigs.

The two had another conversation, and Luo Zhuo decided to invest 2 million in Ruixin Group.

睿信集团目前估值是228.5亿人民币，获得这2亿3080万B+轮融资后，投后估值会达到230亿8080万。

The SME Development Fund just acquired a 1% stake in Ruixin Group.

Luo Zhuo originally decided to invest the 1.3 million yuan invested in Tianyancha to Ruixin Group.

Zhang Yida didn't agree. He planned to pay out of the funds that the Ruixin Group provided to the technology companies under the Small and Medium Enterprise Development Fund...

Anyway, I don't feel sorry for the loss, it's just generosity of others.

Luo Zhuo thought about it, and 1.3 million was invested in small and medium-sized enterprises, which is an astronomical figure.

If you vote for Ruixin Group, you can't even get 1% of the shares.

In the end, he decided to invest 2 million, just to occupy 3080% of the shares.

In fact, Zhang Yida wanted to fool more.

But Luo Zhuo was unwilling. The original intention of the establishment of the SME Development Fund was to invest in small and micro enterprises.

The total size of their sub-fund is only 45 billion. If they really invest [-] billion [-] million in the Ruixin Group, then they will not be able to play in the future, and it will go against the original intention.

As for the 80 fraction, Zhang Yida wanted to erase it.

But Luo Zhuo asked for business to be done, as much as he needed.

Zhang Yida didn't know whether to laugh or cry, and felt that Luo Zhuo was very contradictory.

(End of this chapter)