My Age of Investment

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“Fuxing Semiconductor has been deeply imprinted with the Fuxing system since the day it was founded. In the future, it may still focus on undertaking orders within the group system.

At most, orders from HiSilicon and chip startups that receive investment from industry funds will be added.

Overseas giants that compete with Fuxing Industrial in the fields of consumer electronics, home appliances, automobiles, etc. may not feel comfortable placing orders with Fuxing Semiconductor.

Because this is an act of supporting the enemy! "

Xia Jingxing looked at Fu Jixun and said with a smile: "Fuxing Mobile is now trying its best to get rid of its dependence on Samsung chips. This is human nature.

The important task of developing overseas markets in the future will still fall on Xinxin Semiconductor Group.

Of course, Xinxin can also enter the domestic market and even become one of the suppliers of Fuxing Industry.

Even if there is competition between Fuxing Semiconductor and Xinxin Semiconductor, it is only partial competition.

Semiconductors are a huge market and maintain rapid growth every year. The two semiconductor groups can coexist. "

Fu Jixun no longer had any doubts, nodded and said "ok". .

Xia Jingxing looked at the other executives. Everyone looked at the boss expectantly.

Just now, in less than half an hour, Xia Jingxing arranged to disburse US$33.3 billion in funds.

This makes the executives who have not received the money feel itchy. Who doesn’t want the more money in their company’s account, the better?

With more money, you can achieve greater results and get more rewards...

Xia Jingxing said calmly: "Richie, Rao Lei, next I will inject US$1 billion into the Silicon Valley office and the Beijing office to establish two VC funds that are far larger than before.

Your task is to use this US$1 billion to continue to invest in the companies being invested, while at the same time looking for new high-quality startups to invest in, and to obtain the first IPO exit case as soon as possible. "

Ricky and Rao Lei looked a little embarrassed, mainly because Xia Jingxing's last words deeply hurt their hearts.

Speaking of which, the Silicon Valley office and the Beijing office are the two earliest offices established by Envision Capital. They have been established for four or five years.

As a result, the development speed was far behind the hedge fund sector.

At this time, hedge funds have reaped the fruits of victory with tens of billions of dollars around the world, while VC funds have not even achieved a single large-scale IPO case.

This is not entirely due to the two people's incompetence, but due to the characteristics of VC funds. Investment returns are too slow, far less than hedge funds that make profits in months or days.

But then again, even PE funds with low internal presence in Envision Capital have performed better than VC funds.

Liqiu Fund acquired Android and invested in two listed companies, Ali and Huiyuan Juice, and the profits have been fully reflected.

Bailu Fund has invested in companies such as Penguin, Leihuo Lighting, and Supor, and has earned tens of billions of Hong Kong dollars from Penguin alone.

At present, both funds have completed liquidation, and their holdings in various invested companies have been either sold or transferred to other funds of Vision Capital.

Vision Capital only has one PE fund left at this time, which is the US$5 billion fund managed by Abel, which invested in Marvel and Facebook.

Xia Jingxing turned to Abel and warned: "The US$1 billion investment from the U.S. Real Estate Recovery Fund has been fully received. Your next task is to cooperate with the Friedrich family and the Xiaogu Family Office to establish a house rental company.

Let’s explore the pattern first. If the pattern works, I will add more funds later.

And that PE fund, although the 5 billion in the account has been spent, I allow you to pledge equity for reinvestment. "

Abel smiled and said: "Okay, Darren, I will complete these tasks seriously."

Xia Jingxing didn't say much anymore. Abel's ability to do things was still worthy of recognition.

The Liqiu Fund and the hedge fund of funds that he was responsible for before were all operated very well by him.

Therefore, Xia Jingxing integrated various funds such as the US$5 billion PE fund, the US$2 billion real estate fund, the US$1 billion fund of funds, the US$1.5 billion private credit fund, S1, S2, Liqiu No. 2, etc. The money was given to Abel to manage.

Among them, there are two real estate funds, one is a US$1 billion real estate recovery fund established in the United States, and the other is established in China and has invested US$1 billion in Hengtai.

The private credit fund was established by CIC with an investment of US$1.5 billion, and it also provided a loan of US$430 million to Hengtai.

S1 is the No. 1 S Fund, which was established by a blue-blood aristocrat with an investment of US$3 billion and holds 35% of the Liqiu No. 2 fund shares.

S2 is the No. 2 S Fund. It was established by China Investment Group with an investment of US$1.5 billion and holds 15% of the Liqiu No. 2 fund shares.

Liqiu No. 2 holds about 20% of the shares in each of four companies: Ali, Facebook, YouTube, and Overseas Holding Group, with an investment portfolio worth nearly US$20 billion. Xia Jingxing personally holds 50% of the fund.

Judging from the book returns, the S Fund invested by China Investment Group and Blue Blood Aristocrats both achieved more than double the net return on investment.

Currently, S funds, private equity funds, and hedge funds are added together. CIC has as much as US$7 billion in assets managed by Vision Capital.

The assets of the blue-blood aristocrats are as high as 13 billion US dollars.

Xia Jingxing already holds shares in four companies: Facebook, Ali, YouTube, and Overseas Holdings, and some of them are mixed with Envision Capital.

The total asset management scale of these funds is nearly US$30 billion, all of which are managed by Abel.

Including hedge funds and VC funds that have reduced their asset management scale to more than 40 billion US dollars, the overall asset management scale of Envision Capital has reached 70 billion US dollars.

This number is already very close to Blackstone, which has just exceeded US$100 billion in asset management.

Moreover, the assets managed by Vision Capital VC funds have not yet experienced a major explosion in listings.

In another year or two, it will be the peak period when the invested start-ups will go public.

Xia Jingxing looked at Zhang Yong again and asked, "Domestic holding groups shouldn't be short of money, right?"

Zhang Yong looked stunned. Other companies paid directly, so why did they ask me if I was short of money?

In fact, it is not that Xia Jingxing deliberately made things difficult for Zhang Yong, but that Haihai Holdings has made a lot of money by relying on its online game business and has been profitable for several consecutive quarters.

“Mr.

Although the online game business has strong profitability, we need to invest in self-developed games, and you also proposed a plan to establish a film and television company and invest in the filming of ten Shushan movies of the same name. "

Seeing Zhang Yong constantly "crying poverty" to him, Xia Jingxing smiled and said, "Okay, don't talk about it. Domestic Holding Group will also accept an investment of US$1 billion."

Zhang Yong smiled sarcastically and said nothing. With a capital injection of US$1 billion, he could let Xia Jingxing go and have fun.

He didn't really support his boss's "Shushan Plan" and thought it was too risky.

Isn’t Director Tsui Hark’s lesson profound enough?

This kind of large-scale special effects production, even if Marvel provides experience and help, and Hollywood special effects companies provide technical support, will still lose everything.

In the final analysis, domestic ticket warehouses cannot support such a large-scale production. Even if it is well received and sold well, so what?

The ceiling of the box office is there. Last year's box office champion "If You Are the One" sold 325 million, and the runner-up "Red Cliff Part 1" sold 321 million.

If the production cost of a single movie exceeds 200 million yuan, it will 100% result in a loss.

In addition, there is no foreign market for Chinese-language films, so how can they compare with Hollywood.

He also tried to persuade Xia Jingxing, but his boss was too rich and willful to listen to him at all.

Therefore, the boss now proposes to increase capital by US$1 billion, which is very satisfactory to him.

Even if all the $1 billion is lost, as long as domestic games continue to maintain strong profitability, it will not affect the normal operations of the domestic holding group at all.

Xia Jingxing looked at Lu Qi and asked, "Do you think it would be better for Android to open up financing to the outside world, or would it be more appropriate for me to continue to increase capital?"

Lu Qi pondered for a moment and replied: "It's up to you to continue to increase capital. Currently, there are only two mobile phone manufacturers in the Android camp, Fuxing and Meizu. The ecosystem has not yet been formed, and it is difficult to obtain a higher valuation."

"Okay, then I'll invest another $1 billion in Android."

Lu Qi nodded and expressed no objection.

After some discussions, Xia Jingxing finalized the capital increase plans for each company.

Except for Facebook and YouTube, which do not need financing, all of his important companies sent representatives to the scene today.

Tesla is an exception, because Straubel told Xia Jingxing that they have found a heavyweight investor and need this company to provide credit endorsement for Tesla's listing.

Therefore, Tesla was excluded from the capital increase list.

All of Envision Capital's hedge funds are now open to external LP investment subscriptions, so there is no need for financing.

The list of financing is probably: US$10 billion for Fuxing Industrial, US$13.3 billion for RMB industrial funds, US$10 billion for US dollar industrial funds, US$1 billion each for Chinese and US VC funds, US$1 billion each for Android and Overseas Holdings, and US$1 billion for real estate recovery funds. Dollar.

Add another dollar here, and it’s US$38.3 billion.

A total of US$10.3 billion was invested in the acquisition of AIA.

Some time ago, another US$5.4 billion in loan principal and interest was returned to the two major investment banks, which together amounted to approximately US$5.6 billion.

In addition, he personally owes Friedrich $720 million, and this debt will be due in a few months.

Xia Jingxing would not repay the money in advance to that scoundrel golden-haired old man, but he still prepared 720 million U.S. dollars and bought a large certificate of deposit from the Bank of America. Before returning it to Friedrich, he could still earn a few Monthly interest money.

Mosquito legs are also meat! The richer you are, the stingier you must be!

In addition, he also distributed US$2 billion in bonuses to Envision Capital executives and all employees.

The US$600 million invested in Hengtai Group some time ago was advanced by private equity funds, and now it needs to be returned.

After adding up all the zeros and zeros, Xia Jingxing found that he didn't have much left of his US$80 billion!

After various detailed statistics, Xia Jingxing's efforts in the past three years have achieved more than 80 billion US dollars.

The accurate figure should be US$84.5 billion.

Among them, the profit from its own funds is US$52 billion, Envision Capital’s management fees and income sharing are US$26 billion, the short profit from selling Penguin equity is US$3 billion, Greenlight Capital’s profit share after deduction of fees is US$500 million, and Paulson Fund’s profit share is US$500 million. After-fee revenue sharing is US$3 billion.

All the money invested in Greenlight Capital and Paulson Fund has been withdrawn by him.

Withdrawn along with the earnings was the $1.4 billion in principal he invested.

Among the self-owned funds mixed in the Vision Capital Fund, he also has principal of US$4.5 billion and HK$13.7 billion, totaling approximately US$6.3 billion.

Therefore, at his peak, he controlled a total of US$92.2 billion in funds.

However, after he repaid various loans, as well as the acquisition and capital increase, only US$34.7 billion was left.

During the last Lixia Fund liquidation, he received more than 600 million U.S. dollars, but he used it to build and buy houses, leaving about 300 million U.S. dollars left.

If added together, he still has a total of US$35 billion in own cash, and he no longer has any personal debt.

However, spending nearly two-thirds of the funds at once made Xia Jingxing suddenly a little alarmed.

If we continue to spend so lavishly, we won't go back to the life of carrying huge debts a few years ago, right?

He decided that it would be best to build a small personal treasury, live within his means, and spend rationally.

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