My Age of Investment

night.

Xia Jingxing tossed and turned on the bed, and found that he was pretending to be busy and couldn't fall asleep.

He glanced at the foreign girl, she was sleeping very hard, with her arms still on her body.

He gently lifted the foreign girl's hand away, and tiptoed out of bed.

Afraid of waking up the foreign girl, he didn't turn on the light, and left the bedroom in the dark relying on the faint light of his mobile phone.

Through the corridor, he came to the study, made himself a cup of coffee, turned on the computer, and then he made a few calls.

The Vision Capital China team was a little better, because it was daytime, so they didn't feel any pain, and started working overtime after receiving the task.

The American team of Envision Capital was a little bit distressed. They received a call in the middle of the night, immediately got up from the bed, drove to the company, scolded Xia Jingxing for being cruel, drank coffee to refresh themselves, and then continued to work.

Because it's not good if you don't work hard, the executives also accompany them to work overtime and watch from the sidelines.

What's more, the executives also let go of the word, adding an overnight shift tonight, next month's salary will be doubled.

For the sake of money, at most they scolded the boss in their hearts, and they still couldn't idle their time.

In the middle of the night, the summarized financial data reports were sent to Xia Jingxing's mailbox.

After taking a sip of coffee, feeling less sleepy, Xia Jingxing manipulated the mouse and began to check emails.

His current assets are mainly divided into two parts.

Part of it is 30.38% of Facebook and 28.48% of YouTube shares held by individuals;

The other part is the 12 funds of Vision Capital, which hold 19.2% of Facebook and 18% of YouTube shares.

At present, half of the twenty-four solar term codes have been activated. Compared with last year, there are more ear seeds investing in A shares, and two fund of funds that short subprime mortgages, Lidong and Dongzhi.

Including important companies such as Haineiwang, Fuxing Industrial Holdings Group, Tesla, Android, Ali, Penguin, etc., the shares held by Xia Jingxing were all transferred into these 12 funds. Behind the funds are registered in Cayman and other Offshore funds in offshore islands.

That is to say, through the scale of assets and financial data managed by the 12 funds, one can get a glimpse of Xia Jingxing's real financial situation.

After staying up all night, Xia Jingxing went through all the financial situation of Vision Capital.

The first is the loan. It has borrowed a total of 3 billion US dollars from major investment banks and commercial banks in two batches.

Secondly, it still owes Ivanka's family $720 million in property purchases, which will be paid in one lump sum after three years.

Building No. 40 on Wall Street was mortgaged by him for 400 million US dollars and invested in the Paulson Fund.

In addition, there are more loans for fund trading operations.

The American hedge fund operated by Liu Hai and Jiang Ping has leveraged more than one billion dollars in loans, and the A-share fund operated by Zhao Jun also pledged shares to pay for the 2 billion equity transfer for the purchase of Sunco.

These fund trading operations loans do not need to be too concerned, as long as there is no operational error or a sharp drop in stock prices, they will not be suddenly liquidated or required to add collateral.

What really stuck in his throat was the US$3 billion syndicated mortgage loan. This money was the cornerstone of the Envision Capital empire and was equivalent to the capital of his investment business.

The CEOs of investment banks usually laugh when they see him, but when something goes wrong with Facebook, these people are the first kid to take their lives.

Vision Capital has been developing for so many years. Except for hedge funds and A-share securities investment funds, which have clearly earned more than one billion US dollars, the rest of the VC and PE funds have not made any obvious money. Instead, they have spent more than two billion dollars. U.S. dollars, and the money cannot be recovered in a short period of time.

For example, PE funds invested nearly US$700 million in Ali, and the US$1.746 billion managed by the VC parent fund Chushu was invested in a series of start-up companies such as mobile phone companies and the upstream and downstream of the mobile phone industry chain.

None of these companies are listed, and many are still losing money. The data collected from various reports is quite exaggerated.

The equity held by each VC and PE fund has a total valuation of more than 5 billion US dollars, which is fully double the initial investment, and the book profit is as high as more than 2 billion US dollars.

However, it is only the book figures. If these assets are really sold in a short period of time, whether the cost can be recovered is a question.

For hedge funds, the two hedge funds managed by Jiang Ping and Liu Hai have a combined size of more than 2 billion US dollars, plus the 3 billion US dollars shorting subprime mortgages, and the 400 million US dollars invested in Paulson, the asset management scale easily exceeds 500 million US dollars. billion dollars.

Due to the hedge fund's external fundraising, the fund share that really belongs to Xia Jinghang, the largest LP, is less than 2 billion US dollars.

VC, PE, hedge funds, and funds of funds are all combined, and the asset management scale of Vision Capital has entered a new level, reaching the level of tens of billions of dollars.

However, if Xia Jingxing wanted to cash out quickly in the short term, Xia Jingxing took out at most 2 billion US dollars from the hedge fund, and could not repay the loan of 3 billion US dollars.

If the shares of dozens of start-up companies held by VC and PE funds are sold one by one, it may be possible to get back more than two billion US dollars and cover all loan exposures, but this process will take at least several months or even a few months. is a year.

Therefore, it can be quickly concluded that the current US$3 billion syndicated loan must be stabilized, otherwise the investment empire of Vision Capital, which is currently worth tens of billions of US dollars and will be worth hundreds of billions of US dollars in the future, will be completely destroyed.

That is to say, Yang Niu's guess is correct. He still doesn't have the ability to repay 3 billion US dollars at a time. The stability of Facebook is related to the survival of all his industrial territories.

It’s also his fault that he wants to quickly expand Vision Capital. VC and PE funds are all funded by himself, and he has not raised a penny from outsiders.

If you really use other people's money to make money, there is no risk of taking out loans at all.

However, if you want to monopolize the most attractive start-up shares and enjoy thousands of times the return, you have to bear some more pressure than others.

All is fair!

After understanding all this, Xia Jingxing threw the mouse away, and heaved a long sigh, not only for his unborn child, but also for himself.

According to the book figures, he is already a real tens of billions of dollars, but the cash of 3 billion dollars can crush him to death.

This is also what people often ridicule the rich: a rich man worth hundreds of billions, it is difficult to spend 10 billion in cash.

Xia Jingxing looked out the window and found that the clouds in the distance were shining with golden light. After tossing around all night, the sky dawned before he knew it.

"Bang bang~"

The foreign girl knocked on the door and came in, yawning and stretching, "What are you doing, haven't you slept all night?"

"I couldn't sleep, and I got up in the middle of the night to count the money."

The foreign girl immediately realized what Xia Jingxing was doing, and she was a little touched, which showed that the man in front of her really cared about the child.

"So have you figured it out? Can you cover all loan exposures?"

Afraid that Xia Jingxing would fool her, Yang Niu hurriedly added: "Tell me the truth, don't lie, except for hedge funds, VC and PE funds are long-term investments, I believe it is not so easy to realize."

Xia Jingxing smiled wryly, foreign girls are well-informed now, and they are not as easy to deceive as before. She didn't read these reports, but guessed the situation of Vision Capital very closely.

"Hey, let's not talk about this. The weather is very good today. Let's go for a walk. Pregnant women should get more sun."

The foreign girl knew that Xia Jingxing didn't want to bring up those bad things, so she simply stopped bringing up the topic.

Today is the weekend, after the two of them had breakfast, they went for a walk outside and basked in the sun for a while.

After returning home, Yang Niu started to work in the garden as usual, planting flowers, weeding, and watering, while Xia Jingxing patiently helped.

At noon, after lunch, Xia Jingxing, who was so sleepy, went back to his bedroom to catch up on sleep.

After less than two hours of sleep, he was woken up by the phone ringing.

He picked up the mobile phone on the bedside table and took a look. He found that it was Yang Zhiyuan who was calling. Surprised, he quickly answered the phone.

"Hello, Jerry, good afternoon!"

"Daren, good afternoon! However, I may spoil your good mood. I have some bad news to share with you."