The Koala Fund ushered in the first IPO of Hui Select Insurance for four years, and the second phase of 1 billion new funds was launched. Faced with different entrepreneurs, the Koala Fund has its own set of criteria. First, determine whether there is a systemic opportunity in the field to which the project belongs, that is, see the big track. Secondly, we will pay attention to whether the products and services of the project will meet the effective needs of users. “Effective demand” refers to consumers’ desire to consume such products and consumers to be able to afford them. Third, see if the business model fits the basic logic. The last step is to assess whether entrepreneurs have a keen insight into industry trends and consumer needs.

Editor’s note: This article is from the Koala Fund, and the author is Node Finance.

February 12th, Eastern Time, China’s leading Internet insurance platform Hui Select Insurance (hereinafter referred to as Hui Select) was officially listed on the Nasdaq Stock Exchange under the trading symbol “HUIZ”. From the perspective of the global insurance e-commerce business, Huize officially became the first listed insurance e-commerce company.

Hui Select Insurance was founded in 2006 and is headquartered in Shenzhen, China. We are positioned as an independent online insurance product and service platform. Through the online sales of insurance partners’ insurance products, the insurance covers health insurance, life insurance, accident insurance, travel insurance, and corporate insurance. There are more than 1,000 insurance products.

In addition to selling insurance products, Smart Choice also provides one-stop insurance services such as insurance information, insurance consulting, risk assessment, insurance plan customization, online insurance application, intelligent underwriting, policy maintenance, and assistance in claims settlement. At the same time, the company currently has a national insurance broker license, insurance online sales qualifications, and is also a member unit of the China Insurance Industry Association.

As the “first unit of insurance e-commerce”, Huizhao has come along and tried almost all forms of internet insurance platforms, and also witnessed the rapid development of online insurance from scratch.

HuiZhi’s business grows rapidly and its performance is dazzling

Hui Select has achieved over-raising in this IPO, that is, it issued a total of 5.25 million American Depositary Shares (ADS), which exceeded the preset issuance scale of 4.65 million shares at an issue price of US $ 10.5 per share. Middle issue range ($ 9.4 to $ 11.4 per share).

In terms of core financial data, Hui Select’s total revenue in 2017 and 2018 was 263 million yuan and 509 million yuan, a year-on-year increase of 93.5%; in the first nine months of 2019, Hui Select’s total operating income It was 735 million yuan, an increase of 122.7% from 330 million in the same period in 2018. According to Non-GAAP, the net profit in the first nine months of 2019 was 104 million yuan.

As of September 30, 2019, Smart Choice has provided services to 6 million policyholders, and a large proportion of these policyholders are the younger generation, especially life and health insurance customers. 2019In the first three quarters, the average age of policyholders who purchased life and health insurance through the platform was 32.

According to Oliver Wyman’s report, based on total premiums (GWP) in 2018, Hui Select is China’s largest independent online long-term life and health insurance product and service platform.

Hui Ze’s brilliant performance is also inseparable from the support of early investors.

The B-round entry, the Koala Fund welcomes the first listed company in the insurance sector

It is understood that, as an early investor of Huizhao Insurance, the Koala Fund participated in the B round of financing of Huizhao Insurance in March 2016, and continued to participate in the financing of its convertible bonds in 2018.

Data shows that the Koala Fund is an Internet industry investment fund initiated by Lakara and co-invested by many well-known institutions such as Lenovo Holdings, Guoke Holdings, Blue Cursor, etc. The first phase of the fund has a scale of 1 billion yuan. The scale of the period is RMB 1 billion. The investment phase mainly covers the A to B rounds. The investment direction focuses on the fields of financial technology, corporate services and consumption upgrade. Since its establishment, it has invested in more than 30 entrepreneurial projects.

According to relevant sources, the field of fintech has always been one of the focus areas of koala funds, and online insurance is one of the rising sunrise tracks. The fund has been focusing on opportunities in the Internet insurance field since the end of 2015. At that time, the overall size of China’s insurance industry exceeded 2 trillion yuan, and the depth, density and Internet penetration rate of the insurance industry lagged far behind those of developed countries in Europe and the United States, and had broad market space. With the successful landing of Nasdaq in Huizhao Insurance, the establishment of the four-year Koala Fund also successfully acquired the first listed company.

The head of the Koala Fund pointed out in an interview with Node Finance: Hui selection is a very solid target throughout the Internet insurance circuit. When we consider the Internet to reshape the insurance industry, the first opportunity seized must be the reshaping of the channel. Huize represents such a new channel. In addition, we also value the excellent market sense and structure of the management team represented by Hui Cun’s founder and chairman, Ma Cunjun.

In addition to the insurance track, the Koala Fund also invested in fintech fields (collect money), Easy Point Rental, Yingmi Fund, risk steward, Chuangbeicheng, Xiaohu Finance and other companies. Have a good business performance. At the same time also participated in Rubik’s cube micro hunting, short answer data and other technology-based companies.

Kola Fund has its own set of criteria for different entrepreneurs. First, determine whether there is a systemic opportunity in the field to which the project belongs, that is, see the big track. Secondly, we will pay attention to whether the products and services of the project will meet the effective needs of users. “Effective demand” refers to consumers’ desire to consume such products and consumers to be able to afford them. Third, see if the business model fits the basic logic. The last step is to assess whether entrepreneurs have a keen insight into industry trends and consumer needs.

ExactlyBased on such investment standards and in response to the Beijing and Haidian District governments’ efforts to develop fintech industrial policies, the Koala Fund quickly organized the second phase of fundraising last year and has so far completed its first closure. In the future, we will be optimistic about the combination of innovation and entrepreneurship opportunities in finance and technology.

Under the guidance of Internet, big data, artificial intelligence, cloud computing and other financial technologies, a more efficient and accurate financial service system has been developed, which not only expands the breadth and depth of inclusive services, but also reduces the service threshold And service costs, so that more entrepreneurs can enter this field.

According to KPMG forecasts, the size of China’s fintech related market will exceed 12 trillion yuan by 2020. Against this background, the Koala Fund will also continue to cultivate the two investment tracks of fintech and consumption upgrade.