IDGVC live longer, but also to live well

 China's strategic series of international VC eight
IDGVC China may not be the first to enter the international VC, but called on the Chinese market, one of the most successful VC
IDGVC live longer, but also to live well
households before and Zhang Jiong / text in the early 1990s, international venture capital began to focus on China. In the meantime, there are two VC were both also received the U.S. focus on China Venture Capital Fund IDGVC has already developed into the venture capital market in China banner.
first actors
management of the Fund's experience, read like Harvard, Stanford prestigious MBA, aged 35 to 50 years old. Data Group) finished together in Beijing and Shanghai China to investigate the venture capital market after the words left behind, often in the media before Shong as a years later may not be able to do the simple reason that, when there is no fund in China has a thing children, never mind 10 years of experience in the management of talent? Long McGovern's advice: to immediately do so to IDGVC partner, there is no comprehensive financial background is far more than the original difficulties that a lack of experience. The absence of nascent private economy ... McGovern is still grateful for the time since. The new GP (general partner) to join, do not make a major fundamental changes in institutional framework; the other hand, in specific investment decisions, Mr. McGovern gave us great freedom, which makes our management team is very localized. IDGVC all of our decision makers are from Mainland China, and both at home and abroad has many years of work experience, the environment and the growth of domestic enterprises are well aware of the growth process. so our investment decisions and for the kinds of questions will be very fast response time. the pain, frustration, after wandering, IDGVC found in the Chinese market began to feel and gradually formed its own unique investment style: After careful study to determine areas of opportunity, primarily IT, to do a series of relatively small investments early. the success of two VC. The difference is, they are wide net l r, l and we spread a large net r.IDGVC strategy is the investment industry. so that when the industry up, they are likely to harvest a large area; Even get up, because the amount of each investment are small, they will not lose much money. Several appear grand, IDG will not vote. > VC is a valuable asset, it makes a profound self-examination. GP (general partner), because return, and also have the opportunity IDGVC in the judgments about the market and technology, are the operational level of regret, not a strategic error. We always ask ourselves what people really need? how to meet people's needs? what kind of resource conditions? Who concrete implementation? , IDGVC basically do their own, rather than an accountant and assessment companies. owned by the company for the design Ctrip business model, considering the Chinese people feel more secure telephone transactions, they emphasize telephone service. < br> According to the three major venture capital skills needed, IDGVC partner and also according to their comparative advantage in the background is divided into three groups, respectively, for technical, financial and finance, corporate operations and other three areas. For each project, each a group must have at least one person out as the main person in charge.
absorb new partner when the occupation, IDGVC great emphasis on the complementarity of the background, but also stressed that the new partner and the former mutual recognition between the partners, so in many cases, perhaps a simple evaluation of a very valuable information contained egalitarianism, groups of people, have experienced a lot of ups and downs, most people went to town down the mountain had been a soldier had done the workers. Up to now this age do not understand many things a person can make, but requires a lot of people help, so we can deal more peaceful relationship between. very important. philosophy. First, in the case of the established fund size, capital becomes a scarce resource, and if the amount to be allocated by investment income, then it must lead to earn money and grab resources (funds), all the time during the project evaluation peace of mind can not do justice; Second, GP bear full responsibility for the sub-human level of psychological imbalance will cause you is not conducive to teamwork. investment, more of the equity.
IDGVC of these old rules not only does not hinder it from becoming a sign of China VC industry, but in another way to bring the return of its partners .2005 IDGmAccel new funds raised, IDGVC partner access to profit sharing ratio is much higher than the industry average of 20%.
In fact, the global venture capital community, not just IDGVC having is the average score within the same plate to eat. and stock different, VC, lawyers, accountants partnership is based on the prevalence of Entrepreneur in Residence
IDGVC but even in the interior of people's idea of partnership is not static. Jianguang accustomed to using position switch to CDH Investments as a partner. IDGVC Wang, another senior partner mainly because of long-term work feeling very tired and want to stop and rest for some time, will shift to VP (Venture Partner, Venture Partner.)
, IDGVC ushered in what they have invested in two companies of the two old friends, former chairman and CEO Finance website Jun Ning and 3721, founder, former president of Yahoo China, Zhou Hongyi.
are successful entrepreneurs, has extensive experience in the Internet industry, I believe he is still a long-term goal of starting a business. us, they are actually very similar to the common foreign entrepreneurs in the Division (Entrepreneur in Residence, referred to as the EIR, the main task is to provide VC investment advice, counseling and assistance on specific business). ; we do not require Zhou Hongyi imprisoned a few days ago he came to the company. He has not had a project-led the investment. have had very good cooperation. We no reason not to support him. Yi Hua Ming made the United States went back mainstream VC began to smell, China is the future economic development front.
the experience. to fly. from the current situation, these two approaches are not very successful.
investing in early-stage technology companies has 20 years of experience to enter the Chinese market, Accel Partners experience may provide for later reference.
Accel part of the history of the UUNET
Internet field in the first received venture capital
1995 年 Accel Internet Strategic Technology Fund
first Internet venture capital fund
2000 年 Accel-KKR
established the first and KKR Venture Partnership
Source: documentation provided by Accel Partners
in Europe, Israel, the experience of doing business for many years, helping Accel Partners Partner J Peter Wagner, James W. Breyer (payment. Blair) and his colleagues Accel Partners have established the time of entering new markets, investment principles: the focus in their own areas and have the old relationship of entrepreneurs who look for investment opportunities early.
2004 in early, along this principle, Accel Partners in China piece fell on the first one by the students partner Peter Fenton, who created Mrs UUMe body. but UUMe Accel Partners later proved to have taken a tentative first step in China is not too successful.
At the same time, Accel Partners partner, then-President Venture Capital Association, James W Breyer actively looking to enter China on a new path.
Accel Partners invest in European and Israeli technology-based start-ups through its partnership it is recognized that no matter how well the United States even when there may be mistakes, and trusted as a local entrepreneur or venture capital, IDG China, which has extensive investment experience in venture capital companies to establish a close relationship began to tap the China market opportunities.
investment, we really value and need local partners, more typical, they may be a local venture capital companies. Through these partners, we are able to have experience in the form of angel investors. established with local Chinese VC of these relationships, we can not only learn how to invest in China, but also learn how to make Accel Partners for their support in China, brings a valuable competitive advantage. br> become a reality. in and include comprehensive, Jianguang IDGVC, etc., all of the individual GP face to face talks, Accel Partners is determined to help the establishment of IDG-Accel China Growth Fund directly into the core. Meanwhile, Accel Partners to you can click on the share to 20 years in the Chinese market IDG accumulated understanding of the brand and market and investment experience. the other, IDGVC partner Jianguang also played his IDGVC in some areas are not familiar with a lot of experience, such as Wal-Mart Accel Partners has invested, so the help of the IDG can cooperate to expand the scope of future investments.
2005 年 11 月, IDG-Accel Growth Fund raised to complete the task, the size of nearly 3 billion dollars, almost IDGVC total investment in China had considerable.
to launch a twin-engine
as co-founder of IDG and IDG-Accel Accel Partners in their investment in the Growth Fund are $ 25,000,000. The remaining 2 billion of capital basically from the world famous LP, of which 80% are Accel Partners own long-term partner, but each is not more than 15 million U.S. dollars invested.
new The Fund will be handed over IDGVC partner team now managed by Shong, comprehensive, Jianguang other seven GP to joint decision-making, partner at Accel Partners also gold. Blair and McGovern, IDG chairman of the fund are The advisory committee. IDG-Accel Growth Fund to invest mainly located in the growing project, so a single investment projects of existing projects than the average IDGVC large-scale investment. Typically, IDGVC after the investment of a business generally from 500 thousand to five million U.S. dollars between.
now thanks to IDG-Accel Growth Fund, should be relieved comprehensive. In fact, IDGVC incorporated in the United States first started investing in China, but IDG's investment department, all employees from IDG's own; later set up a Technology Venture Investment Fund) IDGVC total investment in China more than 150 projects, internal rate of return exceeds 42%, a total investment over 300 million U.S. dollars. IDGVC in China, as the cumulative total investment of more than 10 years and the United States only a very moderate size of the fund, and therefore No wonder a half a year ago on the face of the raging mainstream Silicon Valley VC, will issue a comprehensive sigh, projects for the small investment strategy is based on the one hand, the understanding of the Chinese market and their own advantage, on the other hand is derived from the size of their capital constraints. Growth in the IDG-Accel Fund before the establishment of a limited partnership fund and the general difference is, IDGVC only one LP, is the IDG. Prior to this, many Chinese entrepreneurs chose IDGVC, not because of how much money they can provide, but because IDGVC has its own trump card - a good trade relationship. Tarrasque International founder Lu Jian said, there have been four VC competing to provide financing support. which is the lowest amount of money provided by IDG, but he eventually chose the IDG, as a partner of IDG has a strong team.
Many international companies are very familiar with the process of growth, the success of their business models to see clearly. The Chinese companies and foreign companies generally have similar business models, but in time, usually later than the several foreign companies months, quite a few years later. So we go back and look at the growth of Chinese companies when you can have a great grasp. IDGVC's capital constraints will be effectively mitigated. but the problem is also one after another. two funds. BLOGCN and A8. can be described as very much at home, so now would surely be more focused on cooperation funds on. a relatively early stage investment funds, investment companies, which is a basic requirement. about 15 or so cast down overall, the two funds combined investment of about $ 60,000,000. will mainly focus on the IT aspects of the four blocks, namely the Internet, software, wireless value-added, technology-related areas such as telecommunications.