Gan Jiawei had already passed through the narrow gate of Ali Tiejun, passed through the narrow gate of Meituan, and now came to the narrow gate of professional investors.
Editor’s note: This article is from the micro-channel public number “cast the net” (ID: China-Venture), Author: Lin orange.
Investor Gan Jiawei ushered in his first IPO: Monster Charge.
This IPO is very important, and it has laid a new perspective for us to recognize Qian Jiawei: investors.
According to the closing market value of US$2.1 billion on the first day of listing, Qian Jiawei’s personal investment in Monster Charging can get a book return of US$40 million (a contract of 260 million yuan). This does not count Hillhouse’s possible carry-Hillhouse’s cornerstone investment from angels to the final, participated in every round of financing of Monster Charge, and finally became the second largest shareholder with 11.7% of the shares.
Only looking at $40 million, this return is a lot, not a lot. The “quasi newcomer” who has been in the investment industry for three years, made a few hundred million dollars in his first IPO, which is really good. But for Qian Jiawei, who has already had wealth and freedom, it doesn’t seem to be much.
For Qian Jiawei, the monster IPO event itself has more significance than the number, which has achieved a milestone in his “investor” status.
In terms of “operating partner” and “investment partner”, it is usually part-time in large funds. So to what extent is the cooperation between Gan Jiawei and Hillhouse? There are three facts here: First, Gan Jiawei has invested in Hillhouse’s RMB fund; second, Gan Jiawei has a joint investment project with Hillhouse; and third, Hillhouse’s post-investment services, especially in operating value-added In part, Gan Jiawei is deeply involved; therefore, what defines the relationship between Gan Jiawei and Hillhouse is not a simple part-time or full-time rise, but “all aspects from fundraising to investment to post-investment.” close co-opperation”.
Before getting to know the investor Gan Jiawei, we need to reiterate the public’s perception of him: “The King of Land Push” is a professional manager with extremely rich sales and team management experience.
Before becoming the operating partner of Hillhouse, Gan Jiawei was a representative of the iron supply army in Ali, and later built a local push iron army in Meituan. The fact that Meituan became the final winner in the O2O field is related to the addition of Qian Jiawei. Later, Meituan and Dianping merged, and it took 10 months for Gan Jiawei to complete the integration of the offline teams of the two companies-an “extremely arduous task”, and wrote the “Alibaba Bureau” author He Yang Ru commented.
Qian Jiawei on BeautyHow important is the regiment? Zhu Xiaohu’s emotion in 2019 can be seen. “Agan (Qian Jiawei) chose to go to Meituan because of Ali’s investment in Meituan. Ali’s strategic investment really played a key turning point in the battle at that point in time.”
In 2011, Gan Jiawei joined Meituan at the time of the O2O “Thousand Regiments War”. Ten years later, Zhu Xiaohu, who invested a lot of money on Lashou.com, felt the above-mentioned emotion. Some people’s interpretation is that the introduction of professional managers at the right time sometimes plays a key role. What I’m talking about is actually the importance of Gan Jiawei.
O2O, or Meituan, which later merged with Dianping, this business, in the final analysis, competes for who can win offline. Offline is the most sure piece of Qian Jiawei. “The reason I’m sure about Offline is that I am good at human training, which is what Teacher Ma said before, “borrowing fakes to cultivate truth”. Gan Jiawei said.
Sharing power banks also depends on offline business. You said that its threshold is charging technology, but if you open the sharing economy post, the most common post is to hire a shared power bank agent. There are a thousand brands of shared power bank to choose from, and you can even create one yourself. Brand. But it is not a business that focuses on the brand, and the competitiveness of the brand is not a barrier. In the market, the only important thing is the offline coverage, which can be borrowed at the moment when consumers demand it. Your power bank.
Take an example. In May 2020, Meituan, which entered the shared power bank for the third time, reportedly started pushing frantically when the project was launched again, which triggered a war of hundreds of cities, and quickly realized the line of the Meituan shared power bank through human tactics. Under coverage. This is what Qian Jiawei is good at.
Zhang Lei once said publicly that Hillhouse invested US$230 million in Southeast Asian e-commerce SEA in 2017. Zhang Lei later said that he “lent” Qian Jiawei to the other party for two weeks. As a result, Qian Jiawei helped the other party for 6 months. The methodology that has been fully verified in the Chinese market has helped SEA rebuild the offline, e-commerce, and local market.
2017 is also the time when Gan Jiawei joined Hillhouse as an operating partner. This year, Hillhouse took the clear stream, from the angel’s turn to the B round, three times a year to cast money to charge the monster, of which Hillhouse led the round. In 2019, only Monster Charging took the financing in the entire industry, which was also led by Hillhouse.
To the hills who trade hundreds of billions of dollars at every turn, sharing power banks does not seem to be a big deal. Analysys data shows that the transaction size of this market in 2019 is 7 billion yuan, and at a growth rate of 40%-80%, it will reach 50 billion yuan in 2024. What is this concept? That is to say, the maximum growth rate will continue for 3 years to achieve the market value of a perfect diary.
But this also allows the eldest brother and the younger brother to invest money together, which shows their confidence to a large extent. This confidence must come from Gan Jiawei-he participated in the Meituan O2O money burning battle, and eventually wonThe experience-incomparable experience.
Shared power bank is also a business model that covers offline, and the degree of burn will not exceed Meituan in any case. As a result, we saw that in 2018, when Hillhouse led the charging round monster again, Gan Jiawei personally followed suit.
And Gan Jiawei became the only individual investor in the seven rounds of financing of Monster Charging. I counted them. As of Cornerstone Investment, a total of 18 VC/PE+ industries (Taobao China) + Qian Jiawei have participated in them. After all, the power bank is a legacy of the sharing economy, and it is a business model with the lowest cognitive threshold. It is not difficult to understand that there are so many VCs and PEs involved, but the more so, the more it can prove that the only individual investor Gan Jiawei Can participate in the weight.
Now, the monster charging IPO will become the key to his transformation from a “professional manager” to an “investor”.
Qian Jiawei joined Hillhouse for almost 4 years, but his role is more as a “professional manager”, exporting his own business/industry experience internally and externally. Since joining, there have been few public reports about which specific projects Gan Jiawei invested in Hillhouse. More often, he used Hillhouse’s operating partner to talk about corporate operations and sales management methodology. Ling’s post-investment “treasure knife”-top industry professionals, doing standard industry research + operating value-added play. This is also where Hillhouse dared to target Gree, Philips appliances and even Yum China after Belle’s privatization.
For Qian Jiawei, he definitely wants more than the output of his own experience. What he wants is to become a real investor. “Objectively, there are only a few narrow doors for success, so we should find a way to get in.” Gan Jiawei said in a conversation with PricewaterhouseCoopers partner Zhang Ding in 2019. Investor is the third narrow door of his career.
In 1999, thinking that the Internet is the future, Qian Jiawei quit from Zhejiang Fuel Company to Alibaba and became a member of Alibaba’s supply (sales) company. He received Alibaba’s first sales crown certificate issued by Jack Ma himself. I arrived at Ali’s vice president of sales, and also a representative of Ali’s China Iron and Steel Corps.
In 2011, Wang Xing flew to Hangzhou six times to invite Gan Jiawei to join Meituan. Gan Jiawei asked three questions: Is this big? Will this buddy be among the top ten people on the Internet in the future? Are they just missing me? So we saw the added value he brought to Meituan.
These three questions also apply when he chooses Hillhouse. The status of Hillhouse and Zhang Lei in the primary market is unquestionable, and it is precisely because of the blessing of business experience figures like Gan Jiawei that Hillhouse has the courage to use “operating value-added” to make super-large cases.
For Gan Jiawei, he has passed through the narrow gate of Ali Tiejun, through the narrow gate of Meituan, and now he has come to the narrow gate of investors. Qian Jiawei pursues success and likes to win continuously. He has different status blessings at each stage of his life, and he does a good job every time.
But fromHe earned 280 yuan, and his parents’ salary as an engineer adds up to 300 yuan. Later, he used the dual-track system to dump steel. In the era of “ten thousand households”, his monthly income was over 10,000 from time to time. After the money was spent, he returned to work at the company and was admitted to university again. Then there is the Internet resume we saw.
In the conversation with Zhang Ding in 2019, Gan Jiawei said that Jack Ma believes that sales are creating value for customers. This is his sales philosophy that has been greatly affected in Ali, while Wang Xing is focusing on the entire business, The understanding of strategy has a great influence on him.
Undoubtedly, Hillhouse and Zhang Lei will have the greatest impact on his investment now. In the past few years in Hillhouse, although there is no information about specific trading projects. But he has been preparing personally:
In 2019, he personally invested in Jia Capital and became the largest shareholder of this investment institution. He invested in Hillhouse’s RMB fund as an investment as well as an LP. In 2020, he registered three companies as a legal person: two consulting companies and one investment company.
In that conversation in 2019, Zhang Ding asked Gan Jiawei: Is there any understanding and judgment that you are contrary to most people at the moment, but you are convinced? He replied that it was the path to success, and believed that it is difficult to win consistently by luck, and it is very likely that it is not himself who reap the fruits of victory in the end.
“Go and buy lottery tickets if you are not sure, that’s not my character.”