My Age of Investment

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After Wu Jianmin returned to California, he thought about it for three full days, but still could not resist the temptation of the global Chinese bank plan.

He called Xia Jingxing and expressed his willingness to join the team, and he was also willing to persuade his boss, Indonesian Chinese Lin Guoxiang, to sell his shares in East West Bank.

Upon seeing this, Xia Jingxing was overjoyed and sent Chen Hong to take over the work.

This was just a small acquisition, so he didn't ask anyone from Goldman Sachs or Morgan Stanley to take action.

After dealing with these trivial matters, it is already March.

Xia Jingxing did not leave New York in a hurry. Instead, he sent letters to the executives of his companies scattered around the world, summoning them to come to New York for a meeting.

After receiving the news from their boss Xia Jingxing, the senior executives set off to gather in New York.

Soon, Zhang Yong, CEO of Domestic Holdings Group, Deng Yuanjun, CFO of Fuxing Industrial Group and head of the 100 billion semiconductor industry fund, Fu Jixun, head of the Singapore USD Semiconductor Industry Fund, Ricky Milner, head of the Silicon Valley office of Vision Capital, and Vision Capital Capital Office manager Rao Lei and others gathered in the conference room of Building 40 on Wall Street.

The executives sat in two rows at the long table, staring intently at Xia Jingxing, who was sitting at the top, and listened carefully to the boss's speech. Liu Xiaoduo sat aside and meticulously took minutes of the meeting.

“The Fuxing Industrial Industry Investment Fund (formerly the 100 Billion Semiconductor RMB Fund) has been planned for several years, and fund raising has been carried out for a full year.

At present, the fund still has 91 billion yuan, or about 13.3 billion U.S. dollars of funds that have not been received, and it will all be received at once this month. "

Xia Jingxing couldn't help but laugh when he saw Deng Yuanjun's ecstatic expression.

"There is still a little delay in time, but it is not a big deal. The next step is to speed up the investment pace."

Deng Yuanjun nodded heavily, "No problem, Mr. Xia, we are ready.

In the past year, the Industrial Industry Fund has established a mature semiconductor investment team, visited and investigated hundreds of domestic semiconductor start-ups, and invested 9 billion yuan in funds.

Now, as long as the funds are in place, we can invest in all the companies that we have identified and negotiated last year. "

Xia Jingxing said with a smile: "The work is well done, as it should be. Time is precious, and it is urgent to catch up with foreign semiconductor technology.

The Industrial Industry Fund is called the strategic investment arm of Fuxing Industrial. In fact, it mainly focuses on investing in the semiconductor industry chain.

After the fund is in place, it is necessary to invest in the entire semiconductor industry chain one by one. It does not matter how advanced the technology of the invested companies is, but first solves the problem of "none".

If you find that there is a lack of technology in the country and the corresponding foreign technology manufacturers have Chinese middle-level and senior executives, you can pull them out to start a business and give them an angel investment. At the same time, you can use the influence of industrial funds in the domestic semiconductor field to help them win some business in the early stage. , give them a lift!

As for the future, it’s up to them to become adults! "

Hearing this, the surrounding executives showed surprise. Mr. Xia was determined to cultivate a complete semiconductor industry chain in the country!

Although ordinary venture capital also has a post-investment management department, it is impossible to be so considerate.

Deng Yuanjun nodded to Xia Jingxing with a solemn expression. Others didn't know how much his boss had high hopes for the semiconductor industry. As the head of the industrial fund, he knew it very well.

Hundreds of billions of industrial funds are just the tip of the iceberg.

"In addition to replenishing the remaining US$13.3 billion to industrial funds, I also decided to inject US$10 billion into Fuxing Industrial Group."

Deng Yuanjun's eyes widened, as if he heard something incredible.

Xia Jingxing smiled and said: "Fuxing Industrial Group is very large, with five business groups, a sub-group, a research institute and three directly affiliated companies.

Divided equally, each business unit can only receive US$1 billion.

The money seems to be a lot, but each business unit is burdened with very arduous tasks. I am also a little worried that this little money is not enough to support the development and maturity of each business. "

Deng Yuanjun nodded slightly, indicating that he understood that the boss had great ambitions. Fuxing Industrial's business targets were all the world's top companies, so throwing this little money at it would really mean nothing.

Xia Jingxing turned to look at Fu Jixun and asked with a smile: "How are the preparations for the Singapore office going?"

Fu Jixun replied flatly: "The Singaporean authorities welcome us to invest and are willing to jointly establish Xinxin Semiconductor Group with us."

"Xinxin, Singapore's new, what a good name!"

Xia Jingxing smiled. The RMB Semiconductor Industry Fund and the USD Semiconductor Industry Fund were both internal and external. The former cultivated the domestic semiconductor industry chain, while the latter was active in the international semiconductor M\u0026A market.

Since international mergers and acquisitions are involved, especially in the most sensitive semiconductor industry, various reviews are inevitable.

Therefore, U.S. dollar semiconductor funds cannot have a mainland background, and it is undoubtedly a good choice to engage Singapore, a Commonwealth country, in a joint venture to engage in acquisitions.

Of course, there are disadvantages.

Since New Core Semiconductor Group is headquartered in Singapore, and has Singapore state-owned assets such as Temasek and GIC as shareholders, Vision Capital has no absolute control over New Core Semiconductor.

There is no other way to do this. We can only use this roundabout method to establish a semiconductor group overseas to coordinate the overseas actions of reviving the industry.

When Xinxin Semiconductor develops, it will still set up factories and chip design centers in mainland China in the future.

One bright and one dark, two lines of development, Xia Jingxing cannot shake the semiconductor industry structure if he doesn't believe it.

Fu Jixun smiled and said: "The acquisition negotiations between us and Chartered Semiconductor of Singapore have been basically finalized. If debt is included, the transaction consideration will be approximately US$4 billion.

Once the funds are in place, the agreement can be signed and delivered immediately. "

Xia Jingxing nodded slightly and replied: "Don't worry about money. All 10 billion US dollars will be transferred to the Singapore company's account within this week."

Fu Jixun said with a smile: "The negotiations between us and Marvell Electronics have also entered the final stage.

The financial crisis and economic recession have had a great impact on Marvell Electronics' business. Starting from the fourth quarter of last year, the company's profits began to experience a serious decline.

The company's stock price has also fallen from nearly US$20 at its peak last year to US$7 today, and its market value has dropped from US$15 billion to about US$6 billion. "

Speaking of this, Fu Jixun spread his hands, "When we quoted them last year, Zhou Xiuwen and Dai Weili were still dragging their feet and making all kinds of excuses.

Now that the stock price has plummeted, the couple has become anxious. They call me every three days for fear that we will give up on the acquisition. "

Xia Jingxing smiled lightly. It cannot be said that the couple was too greedy and misjudged the timing.

In fact, they delayed it deliberately.

He told Fu Jixun not to worry and to talk slowly, and while they were talking, the financial crisis broke out, and Marvell Electronics' stock price plummeted.

After waiting a few more months and reducing the acquisition cost by nearly 10 billion US dollars, this deal is still quite cost-effective.

Xia Jingxing asked: "Are Dai Weili and Zhou Xiuwen willing to sell all their shares?"

Fu Jixun replied: "If a certain acquisition premium is given, it shouldn't be a big problem."

"Do you think we can take this opportunity to privatize Marvell Electronics?"

Fu Jixun thought for a long time before slowly replying: "If the Foreign Investment Committee does not set up obstacles, it should be possible."

Xia Jingxing pinched his chin. The Committee on Foreign Investment was a spoiler. Many transactions involving the acquisition of American companies by Chinese capital or capital from other countries were disrupted by this organization.

It seems that for the sake of safety, American capital must be roped in to act together.

"If Marvell Electronics is privatized and delisted, I plan to merge it into Xinxin Semiconductor Group and gradually relocate the chip design center to mainland China."

Fu Jixun nodded, "Marvel Electronics has been vigorously expanding the mainland market, and moving to the mainland can provide services to customers nearby.

But if Marvell Electronics is absorbed into Xinxin Semiconductor Group, then Xinxin will become an IDM manufacturer. "

Xia Jingxing smiled and said: "IDM is IDM. We originally planned to let go of our hands and work hard in overseas markets. Pure chip manufacturing seems to be too small and not enough to carry our ideals and pursuits."

"But Fuxing Semiconductor is also an IDM model!"

Fu Jixun glanced at Deng Yuanyun. After thinking about it for a while, he decided to tell the truth, "In the future, competition and internal friction will definitely break out between Fuxing Semiconductor and Xinxin Semiconductor."

Deng Yuanjun did not answer this question. He was silently thinking about Xia Jingxing's intention in making such an arrangement.

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