Veteran New Road
After a brief silence, well-known venture capitalist Ruby re-emerged. According to several independent sources, Lu Rong has recently established an early investment fund, Atypical Ventures, focusing on China’s early-stage startups in the Internet and technology sectors, with a single investment of $1 million to $20 million.
A company filing material shows that Atypical Ventures’ Chinese translation is: Qi Chuang Investment, which was registered in Hong Kong in August this year. Investors close to Lu Rong revealed that Atypical has been running low-key for some time, and has set up a “five-six-person team” with diverse backgrounds. “There are entrepreneurial experiences, from FA, and from “Other funds”, “have encountered in some projects.”
Lu Rong, born in Xiamen, Fujian, is one of the representatives of China’s first generation VC. At the end of 2003, Lu Rong, who had been in charge of technology, media and telecommunications investment banking for many years, moved to VC from the investment bank and joined the venture capital fund DCM as the chief representative of China. Later, in this VC fund known for its “less and lean” investment strategy, Lu Rong spent the longest 13 years of her career.
To date, there are 5 listed companies and 5 mergers and exits out of Lu Rong’s 20 investments. The star unicorn projects in unlisted companies include: Fast Hand, Good Doctor, Lilac Garden, UCloud and Chi Anxin, etc., the latest valuation of the fast-handed is said to have reached 25 billion US dollars.
Before the founding of Atypical Ventures, Lu Rong briefly joined H Capital, a private equity fund founded by Tiger Global Fund partner Chen Xiaohong.
One dollar LP commented: “Ruby is a very solid (scientific research) investor.” In an interview, DCM China co-founder Lin Xinhe said that in the male VC industry, “DCM is very lucky, because there is Ruby”, male-looking projects tend to pay more attention to how big the market is, how many technologies are, and women have intuition. “Ruby will help me see people.”
2019, although it is considered to be the year of continuous cold winter in the venture capital industry, there are still many key figures from old-fashioned funds or large enterprises who are determined to start a new one: such as the founding capital of Qiming Capital, the former managing partner of Qiming Venture Capital, the Arctic Capital The venture capital fund established by the founding general manager of Guangchuang Investment, Jiang Yutian, and the venture capital fund established by the former management partner Peng Hong, the former management partner of Hongtai Fund, and the chief scientist of Alibaba Cloud.
An LP person believes that even in the case of general tightening of funds in the primary market, some new ones with outstanding track record, deep in some vertical industries, or innovative trading strategies Funds, there is still a market potential that cannot be underestimated.