Gaofeng Capital, Sequoia China, and Tencent are still active in the adversity of the opening year of 2020, and are fully invested in full force.
Editor’s note: This article is from the micro-channel public number “IT Orange” (ID: itjuzi521) , Author: Wen fly.
In the beginning of 2020, black swans come in groups, the new crown virus is raging around the world, and the economy and finance are facing huge challenges. The whole world seems to press the pause button. At this time, there are no heroes falling from the sky, only standing up People who have the courage to go retrograde.
In front of the new crown epidemic, there are countless white angels and medical staff, who are retrograde and save lives; who will be brave to retrograde in the battlefield of economic development and resumption challenges, capital and finance? Buffett said, “I am greedy when others are horrified, I am horrified when others are greedy.” In the face of U.S. stocks that melted 4 times in 10 days, and fell 30% in 2 weeks, he has $ 128 billion in cash to deal with. Then, in China’s stock market and primary market, who can calmly deal with and increase positions against the trend? Let’s take a look at the retrograde of the capital trio of Gao Hongteng (Gao Ying, Sequoia, and Tencent).
IT orange data shows that from the end of January to February 2020, the number of venture capital in the Chinese market decreased by about 70% year-on-year, and the amount of investment decreased by about 60%. However, for “High Red Teng”, they are bucking the trend Increase investment, investment in 2020 is still very active and active, from the primary market to the secondary market, from the seed stage, early fund to VC, PE stage, from China to overseas, full-powered investment.
To increase the position against the trend during the downturn of the capital, sufficient capital bullets are needed. Gao Hongteng is obviously well prepared, not only in terms of capital, but also in terms of public opinion and atmosphere. It is more active than before. Specifically review the three companies ’investment in the first three months of 2020:
01 High Capital, joint investment in primary and secondary markets to lead the spring
Gao Ye Capital currently manages more than US $ 68 billion in capital. In the “To Entrepreneurs-Someone Always Welcomes Spring” introduction, “In this cold spring season, we have decided to launch warm GL Ventures With an independent and efficient investment and decision mechanism, it comprehensively covers the four major fields of biomedicine and medical devices, software services and original technology innovation, consumer Internet and technology, and emerging consumer brands and services.
According to the introduction, Gao Yuan Venture Capital, with a total scale of about 10 billion yuan, will operate in a dual currency model of USD and RMB, comprehensively covering multiple rounds of investment strategies and innovations ranging from RMB 3 million to USD 30 million. .
In 2020, Gaofeng Capital’s investment will fully blossom in the primary and secondary markets, covering various fields such as stock adjustments, participation in fixed-income growth, and venture capital. According to the information compiled by IT Orange, Gao Feng Capital has invested in 8 companies in the past 2 months, of which the latest round of Little Red Book, Ape Coaching, and Hi Tea is still in progress, from late media such as LatePost, Reuters and other media It is revealed that Gao Capital is one of the leading investors of these three companies.
From the perspective of industry distribution, health care is a good idea for Gao Capital. In fact, this counter-cyclical industry is more attractive in the context of the current epidemic. Investments include: block trading in the Hong Kong Stock Exchange Increase in holdings of listed company “Minimally Invasive Medical” with a capital of HK $ 1.32 billion; through a fixed increase method, subscribe for 18.7 million non-publicly-issued shares of Gloria Pharmaceuticals in cash by not exceeding 2.311 billion yuan in cash, becoming the institution’s shareholding5 % Of shareholders; involved in a new round of financing with Chuangsheng Group, as a whole, it is relatively late.
In fact, Gao Capital’s stock adjustments in the secondary market are also vigorously deployed in large medical fields, especially pharmaceutical companies. Of all 54 companies currently holding positions in Gaojing Capital, biopharmaceutical and biotechnology companies occupy 25 seats. For example, Biopharma’s leading company, Beiji Shenzhou, is the second largest heavy stock in Gaojing Capital’s portfolio.
Furthermore, among the 12 newly-added / newly-entered companies in Q4 of 2019, 8 companies are in the large medical field, including dental medical equipment company Avery Technology, which has increased its holding of nearly 800,000 shares, FIBROGEN, BLUEPRINT MEDICINES, KINIKSA PHARMACEUTICALS, AKERO THERAPEUTIC, etc. have also increased their holdings. They have recently joined the Dutch biopharmaceutical company Argenx SE, the Dutch cancer immunotherapy company MERUS NV and VIELA BIO.
Second, in the field of large consumption, Gaofeng Capital also invested heavily, including Junlebao Dairy, Shell Finding Housing, and Hi Tea. On March 20, the news from LatePost revealed that Xiaohongshu is in the E round of financing with a valuation of US $ 5 billion. Gao Ye Capital is one of the leading investors; yesterday, the media disclosed that Gao Ye Capital led the latest round of hi tea. The valuation may be as high as 16 billion yuan.
Furthermore, Gao Capital also participated in the investment of manpowerResource technology company Elosoft, Indian digital bank EpiFi founded by former Google executives, etc. It is worth mentioning that Gao Capital recently zoomed in on the heavy storage video conference company Zoom, which benefited from the remote office and conference demand during the epidemic. The stock price rose by more than 30%, which could hedge some US stock losses.
02 Sequoia Capital, brave face and black swan, comprehensively increase investment efforts
The Sequoia Capital China Fund currently manages more than 100 billion yuan, and just raised more than US $ 2.3 billion in December last year (of which China’s Sequoia Capital China Growth Fund V completed a US $ 1.9995 billion fundraising. Shan Capital China Venture Fund VII has completed a US $ 549.5 million fundraising) and has recently begun raising US $ 7 billion in new funds.
In public opinion, in addition to the release of Sequoia Global’s “Open Letter to the CEO: The Black Swan of New Crown Virus 2020”, Sequoia China also changed its low-key propaganda and introduced investment progress to multiple media. “In the past 2 In September, Sequoia Capital China Fund completed the investment of 25 companies. ”
IT Orange has sorted out some investments made by Sequoia Capital in 2020. There are currently 22 companies (Note: There are some deviations from the 25 Sequoia’s own announcements, on the one hand, because some companies have not disclosed, on the other hand, It is the number of companies disclosed by Sequoia in the statistical time we put in 2019), specifically:
Enterprise services is the industry that Sequoia China Fund invests the most, especially in the context of the epidemic. After all, many companies are actively digitizing and technologically moving from offline to online. Professional companies are needed. Services, industry solutions. Sequoia Capital not only continues to increase positions in companies that have invested in Shenda Data, Cloud Wisdom, Cloud Expansion Technology, or CREAMS Artisan Network; it has also invested in new companies such as circular intelligence, SIM computing, and Taosi Data. cast.
Second is medical health. Sequoia China pays attention to drug research and development, medical devices, specialized services, etc., and has invested in 5 companies including Zhaowei Technology, Saishen Medicine, Beixin Life, Chuangsheng Group, and Dentist Butler, involving nucleic acid drugs , Geriatrics treatment, cardiovascular consumables and other fields.
Next is new industry and intelligent manufacturing. Such hard technology is also currently the focus of Sequoia China.There are 4 companies including Stream Intelligence, Mekamande, and Yushu Technology, covering multiple tracks such as chips, robotics, and industrial automation.
Even in the direction of consumption that has been negatively affected by the epidemic, Sequoia Capital has also invested in a number of companies, including hotel chains, light housing, and shell housing. In addition, Sequoia Capital also invested 1.2 billion yuan to lead the latest round of funding for Junlebao Dairy.
03 Tencent, from domestic to foreign, full investment from startup to IPO
Tencent’s latest 2019 annual report disclosed that as of December 31, 2019, the cash, time deposits and cash equivalents held by Tencent reached 205.3 billion yuan, and further strengthened its large revenue-generating capacity (the first quarter of Q4 2019 exceeded 100 billion yuan), which can provide sufficient capital reserves for foreign investment or acquisition.
IT Orange has sorted out Tencent’s investment over the past two months and has a total of 20 companies. Compared to Gao Ye and Sequoia, Tencent’s investment is more diversified in the industry, and it is also domestically and internationally. Among them, there are 8 overseas companies, accounting for 40%.
In terms of quantity, corporate services is also the track where Tencent has invested the most. It has invested in a total of 8 companies, which is in line with Tencent’s overall strategy. Whether it is in its own business or foreign investment, it is serving the company, Industrial solutions are leaning on resources, including stone smelting network, Xinteng Digital, Leyao, Feidu Technology, Juming Network, Donghua Software, Digital Technology, etc. Digital Government, smart city business company, and Tencent are the second largest shareholders; Donghua Software is a listed company in the smart city direction, and Tencent has become a shareholder holding more than 5% of shares through an equity transfer.
Following the direction of games and entertainment, a total of 4 companies have been invested. In addition to strategic investment, the remaining 3 companies are from overseas, including American game company Roblox, Japanese game company Platinum Games, and Hollywood Entertainment Production. Company Skydance Media.
Next is the various subdivision directions in the consumer field, including education, e-commerce, real estate services, and also covers domestic and foreign companies. E-commerce has invested in Farfetch, Magic Chopsticks Technology, CUHK Triumph; Education has invested in Doubtnut, Rice Online School, and is reportedly financing newA round of ape tutoring; shell investment in real estate.
In the fields of finance and new industry, Tencent’s investments are all overseas companies. Financially, it has invested in Indian company Khatabook and French mobile payment company Lydia. New industry led the German flying car company Lilium Aviation.
04 Looking back at the past consumer Internet record, will the “high red Teng” increase the position against the trend and return hugely?
In the era of the consumer Internet in the past 20 years, “Gao Hongteng” has created brilliant achievements, especially in the two largest markets, e-commerce and O2O consumer services. Let ’s take a look:
Golden Capital invested in Alibaba, Tencent, JD.com, and Pinduoduo in the primary and secondary markets. It was the shareholder of Meiliuohe Mushroom Street, and later the two merged into Meilian United Group; it is a shareholder of Didi and Uber Didi merged Uber China; it was a shareholder of Ctrip and Qunar, and later Ctrip merged Qunar.
Sequoia Capital has invested in Alibaba and JD.com, which are shareholders of Meituan and Review, and later merged. They are shareholders of Vipshop and Lefeng.com, and the two have also merged.
Tencent has invested in Public Comment and Meituan. The two have been merged. They have invested in Yilong and Tongcheng. Later, the two merged. They were also invested by Ctrip.com, which is owned by Gao Ye and Sequoia. Didi Travel, merged Kuai, Uber’s China business; acquired Yi Xun, integrated e-commerce business and sold it to Gaojing and Sequoia-invested JD.
The three institutions jointly invested in Meituan and Mobike, which were later acquired by Meituan; Gao Ling and Tencent invested in Yunmanman, Sequoia invested in truck gangs, and later the two merged into the Manbang Group; Tencent invested in 58 cities in the same city, Sequoia invested in the market, and later the two also merged. Gao Ye first invested in 58 cities in the secondary market and cleared its positions at the end of 2019.
So Gao Ling, Sequoia, and Tencent are also JD (JD.com), Meituan, Pinduoduo, Meilishu (Meili United Group), Weilai Automobile, Didi Chuxing, Shell Finding Housing (Chain Family), Manbang Shareholders of the Group, Mobike (acquired by Meituan), Land Rover and other companies;
As for the number of companies held by each two portfolios, for example, Gao Ling and Sequoia are byte beating, iQiyi, Perfect Diary, Beidian (Bebe Group), Hefei said, love Shareholders of Fresh Bee, Jiang Xiaobai, Carla La, Junlebao, etc .; Gao Ye and Tencent are also proposed shareholders of Youzan, Mingchuang Youpin, Udaan, and Ma Honeycomb; Sequoia and Tencent are also many cars at the same time , Vipshop, Douyu, Quick, Freedom, Hungry, Vipkid and other company shareholders.
…… Have you been dizzy? Do you think that the good companies you know are included in them? Indeed, the past ten years of the Chinese Internet have been the era of rapid development of the consumer Internet.Almost every major M & A integration in the industry, you can see Gao Ling, Sequoia, and Tencent behind the scenes, such as reviews and Meituan, Ctrip and Where to go, Meishuo and Mushroom Street, Kazak and 58, full and truck Gang, Didi and Kuai, and Uber’s China business, Lebee.com and Vipshop. These are both the power of capital and industry. The three institutions are like three dice, thrown around, and unable to jump out of these three.
With the economic downturn and industrial transformation and upgrading, the population and traffic dividends have peaked. The entire industry has entered the era of the industrial Internet. Enterprise services, hard technology, medical health, consumer upgrades, advanced manufacturing and other large race tracks will continue to develop. In the current situation of the new crown epidemic continuing to spread globally, “High Red Teng” against the trend to increase investment, bet on these tracks, whether it will win the next era of victory, we wait and see.
“This is the best era, this is the worst era.” Some people give up, some insist; some shrink, some retrograde, and the macro environment cannot be reversed. Every micro and individual can follow their heart and make themselves. s Choice.
The Sequoia Capital China Fund currently manages more than 100 billion yuan, and just raised more than US $ 2.3 billion in December last year (of which China’s Sequoia Capital China Growth Fund V completed a US $ 1.9995 billion fundraising. Shan Capital China Venture Fund VII has completed a US $ 549.5 million fundraising) and has recently begun raising US $ 7 billion in new funds.
In public opinion, in addition to the release of Sequoia Global’s “Open Letter to the CEO: The Black Swan of New Crown Virus 2020”, Sequoia China also changed its low-key propaganda and introduced investment progress to multiple media. “In the past 2 In September, Sequoia Capital China Fund completed the investment of 25 companies. ”
IT Orange has sorted out some investments made by Sequoia Capital in 2020. There are currently 22 companies (Note: There are some deviations from the 25 Sequoia’s own announcements, on the one hand, because some companies have not disclosed, on the other hand, It is the number of companies disclosed by Sequoia in the statistical time we put in 2019), specifically:
Enterprise services is the industry that Sequoia China Fund invests the most, especially in the context of the epidemic. After all, many companies are actively digitizing and technologically moving from offline to online. Professional companies are needed. Services, industry solutions. Sequoia Capital not only continues to increase positions in companies that have invested in Shenda Data, Cloud Wisdom, Cloud Expansion Technology, or CREAMS Artisan Network; it has also invested in new companies such as circular intelligence, SIM computing, and Taosi Data. cast.
Second is medical health. Sequoia China pays attention to drug research and development, medical devices, specialized services, etc., and has invested in 5 companies including Zhaowei Technology, Saishen Medicine, Beixin Life, Chuangsheng Group, and Dentist Butler, involving nucleic acid drugs , Geriatrics treatment, cardiovascular consumables and other fields.
Next is new industry and intelligent manufacturing. Such hard technology is also currently the focus of Sequoia China.There are 4 companies including Stream Intelligence, Mekamande, and Yushu Technology, covering multiple tracks such as chips, robotics, and industrial automation.
Even in the direction of consumption that has been negatively affected by the epidemic, Sequoia Capital has also invested in a number of companies, including hotel chains, light housing, and shell housing. In addition, Sequoia Capital also invested 1.2 billion yuan to lead the latest round of funding for Junlebao Dairy.
03 Tencent, from domestic to foreign, full investment from startup to IPO
Tencent’s latest 2019 annual report disclosed that as of December 31, 2019, the cash, time deposits and cash equivalents held by Tencent reached 205.3 billion yuan, and further strengthened its large revenue-generating capacity (the first quarter of Q4 2019 exceeded 100 billion yuan), which can provide sufficient capital reserves for foreign investment or acquisition.
IT Orange has sorted out Tencent’s investment over the past two months and has a total of 20 companies. Compared to Gao Ye and Sequoia, Tencent’s investment is more diversified in the industry, and it is also domestically and internationally. Among them, there are 8 overseas companies, accounting for 40%.
In terms of quantity, corporate services is also the track where Tencent has invested the most. It has invested in a total of 8 companies, which is in line with Tencent’s overall strategy. Whether it is in its own business or foreign investment, it is serving the company, Industrial solutions are leaning on resources, including stone smelting network, Xinteng Digital, Leyao, Feidu Technology, Juming Network, Donghua Software, Digital Technology, etc. Digital Government, smart city business company, and Tencent are the second largest shareholders; Donghua Software is a listed company in the smart city direction, and Tencent has become a shareholder holding more than 5% of shares through an equity transfer.
Following the direction of games and entertainment, a total of 4 companies have been invested. In addition to strategic investment, the remaining 3 companies are from overseas, including American game company Roblox, Japanese game company Platinum Games, and Hollywood Entertainment Production. Company Skydance Media.
Next is the various subdivision directions in the consumer field, including education, e-commerce, real estate services, and also covers domestic and foreign companies. E-commerce has invested in Farfetch, Magic Chopsticks Technology, CUHK Triumph; Education has invested in Doubtnut, Rice Online School, and is reportedly financing newA round of ape tutoring; shell investment in real estate.
In the fields of finance and new industry, Tencent’s investments are all overseas companies. Financially, it has invested in Indian company Khatabook and French mobile payment company Lydia. New industry led the German flying car company Lilium Aviation.
04 Looking back at the past consumer Internet record, will the “high red Teng” increase the position against the trend and return hugely?
In the era of the consumer Internet in the past 20 years, “Gao Hongteng” has created brilliant achievements, especially in the two largest markets, e-commerce and O2O consumer services. Let ’s take a look:
Golden Capital invested in Alibaba, Tencent, JD.com, and Pinduoduo in the primary and secondary markets. It was the shareholder of Meiliuohe Mushroom Street, and later the two merged into Meilian United Group; it is a shareholder of Didi and Uber Didi merged Uber China; it was a shareholder of Ctrip and Qunar, and later Ctrip merged Qunar.
Sequoia Capital has invested in Alibaba and JD.com, which are shareholders of Meituan and Review, and later merged. They are shareholders of Vipshop and Lefeng.com, and the two have also merged.
Tencent has invested in Public Comment and Meituan. The two have been merged. They have invested in Yilong and Tongcheng. Later, the two merged. They were also invested by Ctrip.com, which is owned by Gao Ye and Sequoia. Didi Travel, merged Kuai, Uber’s China business; acquired Yi Xun, integrated e-commerce business and sold it to Gaojing and Sequoia-invested JD.
The three institutions jointly invested in Meituan and Mobike, which were later acquired by Meituan; Gao Ling and Tencent invested in Yunmanman, Sequoia invested in truck gangs, and later the two merged into the Manbang Group; Tencent invested in 58 cities in the same city, Sequoia invested in the market, and later the two also merged. Gao Ye first invested in 58 cities in the secondary market and cleared its positions at the end of 2019.
So Gao Ling, Sequoia, and Tencent are also JD (JD.com), Meituan, Pinduoduo, Meilishu (Meili United Group), Weilai Automobile, Didi Chuxing, Shell Finding Housing (Chain Family), Manbang Shareholders of the Group, Mobike (acquired by Meituan), Land Rover and other companies;
As for the number of companies held by each two portfolios, for example, Gao Ling and Sequoia are byte beating, iQiyi, Perfect Diary, Beidian (Bebe Group), Hefei said, love Shareholders of Fresh Bee, Jiang Xiaobai, Carla La, Junlebao, etc .; Gao Ye and Tencent are also proposed shareholders of Youzan, Mingchuang Youpin, Udaan, and Ma Honeycomb; Sequoia and Tencent are also many cars at the same time , Vipshop, Douyu, Quick, Freedom, Hungry, Vipkid and other company shareholders.
…… Have you been dizzy? Do you think that the good companies you know are included in them? Indeed, the past ten years of the Chinese Internet have been the era of rapid development of the consumer Internet.Almost every major M & A integration in the industry, you can see Gao Ling, Sequoia, and Tencent behind the scenes, such as reviews and Meituan, Ctrip and Where to go, Meishuo and Mushroom Street, Kazak and 58, full and truck Gang, Didi and Kuai, and Uber’s China business, Lebee.com and Vipshop. These are both the power of capital and industry. The three institutions are like three dice, thrown around, and unable to jump out of these three.
With the economic downturn and industrial transformation and upgrading, the population and traffic dividends have peaked. The entire industry has entered the era of the industrial Internet. Enterprise services, hard technology, medical health, consumer upgrades, advanced manufacturing and other large race tracks will continue to develop. In the current situation of the new crown epidemic continuing to spread globally, “High Red Teng” against the trend to increase investment, bet on these tracks, whether it will win the next era of victory, we wait and see.
“This is the best era, this is the worst era.” Some people give up, some insist; some shrink, some retrograde, and the macro environment cannot be reversed. Every micro and individual can follow their heart and make themselves. s Choice.
In the era of the consumer Internet in the past 20 years, “Gao Hongteng” has created brilliant achievements, especially in the two largest markets, e-commerce and O2O consumer services. Let ’s take a look:
Golden Capital invested in Alibaba, Tencent, JD.com, and Pinduoduo in the primary and secondary markets. It was the shareholder of Meiliuohe Mushroom Street, and later the two merged into Meilian United Group; it is a shareholder of Didi and Uber Didi merged Uber China; it was a shareholder of Ctrip and Qunar, and later Ctrip merged Qunar.
Sequoia Capital has invested in Alibaba and JD.com, which are shareholders of Meituan and Review, and later merged. They are shareholders of Vipshop and Lefeng.com, and the two have also merged.
Tencent has invested in Public Comment and Meituan. The two have been merged. They have invested in Yilong and Tongcheng. Later, the two merged. They were also invested by Ctrip.com, which is owned by Gao Ye and Sequoia. Didi Travel, merged Kuai, Uber’s China business; acquired Yi Xun, integrated e-commerce business and sold it to Gaojing and Sequoia-invested JD.
The three institutions jointly invested in Meituan and Mobike, which were later acquired by Meituan; Gao Ling and Tencent invested in Yunmanman, Sequoia invested in truck gangs, and later the two merged into the Manbang Group; Tencent invested in 58 cities in the same city, Sequoia invested in the market, and later the two also merged. Gao Ye first invested in 58 cities in the secondary market and cleared its positions at the end of 2019.
So Gao Ling, Sequoia, and Tencent are also JD (JD.com), Meituan, Pinduoduo, Meilishu (Meili United Group), Weilai Automobile, Didi Chuxing, Shell Finding Housing (Chain Family), Manbang Shareholders of the Group, Mobike (acquired by Meituan), Land Rover and other companies;
As for the number of companies held by each two portfolios, for example, Gao Ling and Sequoia are byte beating, iQiyi, Perfect Diary, Beidian (Bebe Group), Hefei said, love Shareholders of Fresh Bee, Jiang Xiaobai, Carla La, Junlebao, etc .; Gao Ye and Tencent are also proposed shareholders of Youzan, Mingchuang Youpin, Udaan, and Ma Honeycomb; Sequoia and Tencent are also many cars at the same time , Vipshop, Douyu, Quick, Freedom, Hungry, Vipkid and other company shareholders.
…… Have you been dizzy? Do you think that the good companies you know are included in them? Indeed, the past ten years of the Chinese Internet have been the era of rapid development of the consumer Internet.Almost every major M & A integration in the industry, you can see Gao Ling, Sequoia, and Tencent behind the scenes, such as reviews and Meituan, Ctrip and Where to go, Meishuo and Mushroom Street, Kazak and 58, full and truck Gang, Didi and Kuai, and Uber’s China business, Lebee.com and Vipshop. These are both the power of capital and industry. The three institutions are like three dice, thrown around, and unable to jump out of these three.
With the economic downturn and industrial transformation and upgrading, the population and traffic dividends have peaked. The entire industry has entered the era of the industrial Internet. Enterprise services, hard technology, medical health, consumer upgrades, advanced manufacturing and other large race tracks will continue to develop. In the current situation of the new crown epidemic continuing to spread globally, “High Red Teng” against the trend to increase investment, bet on these tracks, whether it will win the next era of victory, we wait and see.
“This is the best era, this is the worst era.” Some people give up, some insist; some shrink, some retrograde, and the macro environment cannot be reversed. Every micro and individual can follow their heart and make themselves. s Choice.