Chapter 272 Year-end Review
In fact, given Xu Xin's identity, there is nothing wrong with him calling New Fortune a fake list, because the most recognized list in the domestic PE/VC circle is the Zero2IPO Entrepreneurship List.

The first venture capital company in China has now gradually developed into a financial information service provider. All professional institutions buy the corresponding data and research services from their research center.

The PE/VC list compiled by New Fortune this year is a copycat with a strange smell. It is completely trying to take advantage of the popularity of the venture capital circle and to share the spoils with the most prominent figure Xie Jingxing.

If we really follow the serious annual selection of Zero1500IPO, this year's best seed/angel round early-stage investment must be Xu Xiaoping of Zhen Fund, who participated in the investment in Jumei Youpin, which went public in the United States this year and achieved a -fold return.

JD.com went public today and Xu Xin and Hillhouse Capital’s Zhang Lei each reaped a hundredfold return on their exits. Sequoia Capital’s Shen Nanpeng was even more impressive, winning both Jumei and Alibaba’s e-commerce businesses.

Even though he is at the second tier, Jinshajiang's Zhu Xiaohu seems to have been driven crazy by Xie Jingxing, but if you look closely, Didi and Ele.me are both top projects, and he even invested in them earlier. He is definitely the king of early-stage VC angels, and Xu Xiaoping is a god.

Others include Kai-Fu Lee of Innovation Works, Chen Hao of Lenovo’s Legend Holdings, and Fang Aizhi, the only queen of ZhenFund, who are all well-known names when taken individually.

Xie Jingxing refused to attend the event and let Song Anli accept the award on his behalf. It was not because he felt dissatisfied with the small amount of pork he got, but rather that it was too shabby to get too much.

He believes that all heroes in the world are like carp crossing the river and should not be underestimated. This year, he is only worthy of the China's No. 1 Investor of the Year Award. He will deposit other institutional awards with major sects and will pick them up in person next year.

Where is the use of new wealth? Ugly people are mostly causing trouble. The emperor is not anxious, but the eunuchs are.

Song Anli naturally understood the thoughts of her little emperor, so she didn't think that she could really look at this idol on an equal footing just by standing side by side with Xu Xin.

However, the annual investment institution and annual investor awards given by New Fortune are very valuable in the secondary market, and Xie Jingxing voted seriously last year.

So at the dinner that night, she held her wine glass the whole time and bowed slightly, explaining to everyone she met that Mr. Xie was really too busy to attend as he was on a business trip to Beijing to attend an academic conference.

"At the end of the year, will you attend the National Economic Summit Forum? President Xie has prepared a dinner to thank everyone for their recognition and support. Please be sure to come!" Song Anli's face flushed as she made the invitation countless times.

Fang Aizhi, who had a pair of big eyes, was very friendly and joked: "No problem. I should have invited Mr. Xie to dinner a long time ago. Now we are a family again, even closer than before."

"That's a good saying, it's worth a drink." Tang Man, standing nearby, agreed with a smile on her face.

Xiaohongshu completed a US$600 million Series A financing in June, led by ZhenFund and participated by Jinshajiang, but Zhu Xiaohu was not in charge of the project.

Moreover, Fang Aizhi is an alumnus of Columbia University, so Xie Jingxing calling her "senior sister" is very friendly. Her father is a veteran in the domestic financial industry, and his family background is not worse than Xu Xin's.

Tang Man's father works at CCB, and Su He's family background is also very secretive. Anyway, it is very difficult for women to succeed in this industry. Most of the time, you always have to have someone above you, either above you or on your body.

Song Anli sipped champagne with her red lips, listening to Tang Man and Fang Aizhi's friendship, occasionally saying a few words to accompany them.

"Boss Su, let's communicate more often in the future and share any good projects we have."

Not far away, Chen Hao of Legend Capital, with his side-parted hair and shiny forehead, laughed heartily, and Kuang Ziping of Qiming Capital, with his deep wrinkles on his forehead and gray hair, joined in by raising his glass.

The venture capital circle is really small and they have dealt with each other. The former has entered the top ten list of best venture capitalists for the first time relying on the listing of China Auto Rental on the Hong Kong Stock Exchange. China Auto Rental has been beaten up by Didi and Kuaidi, and now it has become a beating by Didi and Uber. In short, no one is good.

The latter was an early investor in Dianping.com. Zhang Tao once held an extraordinary shareholders' meeting and threatened to force the old man to choose between the two. Taihe transferred its shares to Xiyou as a placation, and the old man silently voted in favor.

Su He had little interest in socializing and got straight to the point about business: "I actually have a project here, which is a long video platform for subculture PUGC. Compared to the traditional video platform's advertising and membership-based business model, this two-dimensional subculture project has a mobile game distribution business."

"Sounds good. You are not talking about Bilibili, are you? I have received their BP, and it seems that they did not have a game distribution business before." Kuang Ziping's quick thinking makes him seem like the type of investor who gets more powerful as he gets older.

Su He nodded: "Their game distribution business was just launched in the first half of the year. It is an experimental cooperation with another two-dimensional game project we invested in, and the effect is very good."

"Boss Su, is this game project you mentioned short of money?"

After years of suffering, Lenovo finally made it into the mainstream investment circle. In addition to the successful listing of China Auto Rental, another representative project is a gaming company. In general, mobile games have exploded in the past two years, and Chen Hao is more interested in this.

Su He expressed regretfully that there was no shortage of them, as the founders of miHoYo came from science and engineering backgrounds and were very twisted in their ways. The success of Honkai Impact 2 was enough to generate a large amount of cash flow to support the development of Honkai Impact 3.

They do not plan to raise funds in the short term, but twists have their own advantages. Several founders are very grateful to Mr. Xie for his recognition. Even if they have other financing needs due to strategic considerations, they will mainly consider Taihe's ideas.

After a few words, Chen Hao and Kuang Ziping went their separate ways, and Su He was alone, sipping his wine to digest his emotions.

In the venture capital circle, one top project can usually make multiple investors famous. For example, Tang Man was able to take Didi, Ele.me, and Dianping's post-investment management and follow-up investments as his representative works, and was ranked seventh among the top ten best venture capitalists.

This kind of project is amazing. From the industry's money-burning war to financing and mergers and acquisitions, everyone recognizes the post-investment management work.

Su He was unwilling but had to admit that they were all lucky ones who were covered by the shining morning star, but the bright starlight that she had been blessed with had not yet appeared.

Kuaishou, ByteDance, and Bilibili have helped her to be included in the list of best investors this year, and will help her to reach the top ten in three years at the latest, second only to the best.

"Polaris." Su He uttered the word with great confidence. Compared with the so-called young marshal, she preferred to call Xie Jingxing "Polaris", the most primitive and effective navigation to indicate the direction of progress.

Su He's gaze moved from Shen Xin to an elegant and handsome middle-aged man, Zhou Shouzi of DST, who had secured the position of best investor this year.

ByteDance and Kuaishou will continue to raise funds next year, so it’s a good opportunity to talk to him and maybe grab some market share in advance.

"Mr. Shen, Mafengwo will have its C round next year. Will you follow?" Xu Xin walked closer and asked.

Shen Xin was stunned for a moment, picked up his glass to buy time for thinking, and asked, "I heard that Airbnb will enter China next year?"

"You can ask Xie Jingxing, he has many friends in Silicon Valley."

Xu Xin paused for a moment and patiently added, "It's a good thing for Airbnb to join Mafengwo, a community-based professional review content project that focuses on the tourism industry. Together, we can expand the independent travel market."

"I haven't talked to them yet. How big is the gap in the C round of funding?"

"Mafengwo hopes to give priority to early-stage investors. We, Taihe and Qiming can pool together less than $1 million. At most, we can bring in Hillhouse Capital to cooperate with us."

Xu Xin thought for a while and said, "Let's arrange a time to discuss it in detail later. We have to hurry up. Next year, Ctrip will be free to use its user base advantage to launch community content, and we will lose our first-mover advantage."

"Bitch!"

Shen Xin loved to laugh as always, with a face full of peace and prosperity, and a dignified and generous expression, but she was secretly cursing in her heart.

The post-investment management of the projects that Xie Jingxing invested in when he returned to China last year, including Lagou.com, Pop Mart, and Zhihu, was given to her; there is also the legacy left by the former general manager of Maimai.com, Mafengwo, etc.

Most of them will complete their new round of financing this year, and the rest will follow suit next year. The situation is very good.

Besides, the Yinshanbudu milk tea company she personally invested in is now showing signs of taking off. Everyone would praise this young talent to her face for his bright future.

"How rude of you, Mom!"

Shen Xin snorted and took a sip of champagne. He actually thought that she was not qualified to be in charge of a big project. I am no longer the little VP who could go on business trips whenever she wanted with a suitcase and white sneakers!
Mafengwo is really me who is here to negotiate, $1 million... Wait, this old woman is not testing her own financial reserves...

Shen's mind suddenly brightened. Taihe has made more than 5 investments this year, and He Chuan said that Xiyou will have no less than the same amount. They will soon have a $ million fund incoming, and they are very wealthy.

It is difficult to compare on our side. Next year, projects such as Douyu and Yinshanbudu will start a new round of financing. President Xie has specially set a funding share for a key project.

It is not yet known how much money that key project will require. She only knows that the amount of financing for the new round of her famous masterpiece will not be lower than that of Mafengwo. Cui Aliu is currently formulating an advertising budget of up to 4-5 million yuan.

It is certain that a new investor was introduced to lead the investment. Shen Xin wanted to follow up the investment out of selfish motives, but Today Capital came to compete for Yinshanbudu’s first round of financing as early as last year.

Sorting out the causes and consequences in this way, it is true that Xu Xin wanted to bring Taihe to invest in Mafengwo's C round, and it is also true that he wanted to lead the investment in Yinshanbudu's new round.

"There's nothing I can do about it. Having a good project in hand makes people envious."

Shen Xin raised the corner of her mouth happily and stroked the hair beside her ear. No matter how President Su and President Tang quarreled, Taihe grapefruit had undoubtedly achieved a bumper harvest this year, and it will be even better next year!
Zheng Chunfeng was thinking about this when she suddenly saw an acquaintance. The other party was an analyst from Juntai and he led his team to win the New Fortune Best Team Award last year.

He spent a lot of favors and money to canvass votes, and he seemed to be quite capable, so he specially invited Mr. Xie to dinner, and both Taihe and Xiyou voted for him.

The person Zheng Chunfeng was talking to was his cousin Zheng Zhe, the best investor of this year's best investment institution.

"My dear, our company's overall funding channel operations are managed by the middle office department. I really don't understand what you are talking about."

"Alas, to be honest, I don't understand these things. I really owe people a favor and there's nothing I can do about it. Lao Hai from the company's institutional client department came to me with a defeated look on his face, saying that Xiyou had taken out more than 10 billion yuan in one go, not counting other asset management businesses. Let me know where their service is not up to standard and give them a chance to make corrections."

"… It's useless to ask me about this matter. He came to me before, and I told him that the money should belong to the active strategy group. I guess, it's just my random guess, don't take it seriously. More than 10 billion yuan of funds, how much does it have to do with their service department? Have you done your job well, Juntai?"

In the blink of an eye, Zheng Zhe couldn't help but help analyze from his own perspective.

Zheng Chunfeng seemed to be thinking: "Sun Tao from the direct investment department has talked to your CEO Tang about this, but he still can't come up with anything. I'll report to the higher-ups. It seems that CEO Xie had a good relationship with Lao Chen when he was interning at Juntai?"

"Anyway, this matter has to start from the top level. If it doesn't work, you can find a way to ask Assistant Song for help." Zheng Zhe shook his head and said no more.

Zheng Chunfeng smiled immediately, raised his head and nodded his chin: "We are just chatting about this."

(End of this chapter)