How To Bid Farewell To The Wild Investors Of TMT / PE

Since the end of May this year, the 21st century economic report has interviewed a number of first-line investors in the field of TMT to analyze and interpret from the perspectives of enterprise services, hard technology, consumer Internet, and new infrastructure.

Huang Yubin. Information map

Yunqi capital Huang Yubin: new infrastructure will bring new platform opportunities

"To invest in tob, you need to concentrate on basic skills. It's also a competitive advantage for us. " Yunqi capital founding partner Huang Yubin said.

Since this year, when PE / VC's vision will further focus on "new infrastructure", yunqi capital has grown into Unicorn enterprises in the field of new infrastructure, such as Bingjian technology, Qinglang intelligent, Shengzhi optoelectronics, pingcap and Baibu.

Yunqi capital was founded in 2014, which is the first year of China's VC2.0 era. Many of today's front-line venture capital forces start from this. What's special is that the two founding partners of yunqi have chosen a path rarely taken: focusing on the early and medium-term investment of Tob, the project is mainly arranged around the upstream and downstream of "technology enabling industrial upgrading".

"At that time, the platform of" 4G + smartphone "was stable. Will there be a new platform after 5g is opened?" With such thinking, Huang Yubin and Mao Chengyu jointly launched the investment journey of yunqi capital.

In recent years, science and technology investment has changed from the belief of a few people to the wind outlet in the eyes of most people, while yunqi capital has completed the layout in terms of team configuration, project investment, experience accumulation and resource network.

The third one is to provide users with a wide range of applications, such as infrastructure and big application scenarios; the third one is to provide users with a wide range of applications, such as infrastructure and big application scenarios; the third is to build a platform for the application of cloud computing technology in the new industry Focus on the upgrading of cutting-edge science and technology, high-quality economic development, and improving people's life happiness.

"To become a leading country in the world, we must first build the road in the future." Huang Yubin believes that 5g, big data and AI have strategic significance for China's economic and social development in the next 20 years. As a VC investor, he is also looking for new platform opportunities.

Zhang Gaonan. Information map

Hua Ying capital Zhang Gao Nan: VC is going to be specialized and new dividends should be seen in investment

"Every area of investment is becoming more specialized. Opportunities in large areas are further subdivided, and investors are increasingly focused on projects. " Zhang Gaonan, partner in charge of Huaying capital, said.

Zhang Gaonan is a typical technology investor. The technology investment team of Huaying capital led by Zhang Gaonan has invested more than 30 projects in tob and science and technology fields, such as boss direct employment, Shenlan technology, Tianyun data, Yingchuang technology and Bilin technology. In his opinion, to make investment, we must see where the dividend in the next 5-10 years is, "first of all, we must see accurately, and then select high-quality enterprises on this premise."

In the past 20 years, the development of domestic emerging enterprises has benefited from the combination of demographic dividend and Internet technology. Under the background of slowing GDP growth and high labor costs, enterprises need to turn to the improvement of productivity to maintain competitiveness.

Nowadays, the technology investment plate of Huaying capital is more focused on the field of enterprise services, especially general enterprise services. In addition, Zhang Gaonan also focused on the investment opportunities under the three themes of intelligent manufacturing, it management and service, and data-based technology, as well as the emergence of new dividends in the vertical field represented by automobile intelligence.

In terms of specific opportunities, Huayi capital focuses on IOT related enterprises in the TMT sector, and continues to pay attention to the underlying technology of data, distributed storage technology, media PAAS services and enterprise IT operation and maintenance upgrading opportunities, as well as operating system, FPGA and other fields.

From the perspective of technology industry roadmap, the current application of science and technology has experienced a transformation from online, digital to intelligent. In fact, the above-mentioned "three modernizations" constitute the core of the current new infrastructure, and are widely used in vertical scenarios.

"There are a lot of investment opportunities from digitalization to intelligence, among which the greatest opportunities are computing networks and edge computing. In essence, the unit of future management is computing power, not traffic and bandwidth. " Zhang Gaonan, when talking about the field of data-based technology, made a specific analysis.

Yang Lei. Information map

Aurora Borealis venture capital Yang Lei: technological change opens new opportunities for Entrepreneurship

"The normal for a period of time in the past is called chasing after tuyeres. In the future, the first is to be more than B, and the second is to B. basically, there is no wind outlet to speak of." Yang Lei, managing director of Aurora Borealis venture capital, said that both entrepreneurs and investors should do business steadfastly and seek growth steadily.

Early science and technology investment is one of the three major investment plates of Aurora Borealis venture capital. In the investment of the first and second funds, the investment in the field of science and technology to B accounts for more than 90%. Since 2019, it has been listed in the science and technology innovation board market alone, such as Shanshi Wangke, Anji technology and Wald.

At present, AI, blockchain, cloud computing and other technical fields are rapidly changing, which is bringing great opportunities to start-up enterprises. In Yang Lei's view, with hard technology replacing to C and mobile Internet as the main theme of investment, China will be able to become the world's first in the field of information technology in the next 10-15 years.

From "first-class technology" to "world-class", it is better than "you" and "China's" enterprises to achieve rapid development.

Talent reserve is another major support for the development of China's science and technology industry. Despite the demographic dividend, the engineer dividend is becoming a new engine for innovative businesses and the economy. In Yang Lei's words, China is an economy with both quality and quantity of talents.

"From software to systems, then to operating systems, embedded software and semiconductors, China has talents in the whole industry chain." This means that there will be more new innovations based on the combination of software and hardware in the next 10 years.

Chen Weiguang. Information map

LanChi venture capital Chen Weiguang: the latest wave of opportunities in the super Internet of things

In the past, TMT investment focused on business model innovation in the field of consumer Internet. However, due to the disappearance of demographic dividend and other factors, 2C consumer internet field has gradually declined, and 2b enterprise service market has become a new opportunity.

LanChi venture capital, which began to enter the Chinese market in 2005, has always attached importance to the investment in 2B project while investing in 2C project. It is understood that in its portfolio, not only are 2C projects familiar to people, such as interesting stores, ideal cars, singing bars, melon seeds used cars, mushroom street, and water drop mutual aid, but also star 2B projects such as coupa software and Qingyun qingcloud, which cover many quasi unicorns of subdivided racetracks such as big data, cloud computing, IOT and intelligent hardware.

"Half of our portfolio is in 2B." Chen Weiguang, managing partner of LanChi venture capital, told the 21st century economic report. The 2B investment of LanChi venture capital can be divided into four waves: the first wave, represented by big data and cloud computing services, takes the lead as infrastructure. For example, LanChi invested in Qingyun Qingyun in 2012, cloud computing easystack in 2013, and birui data in 2014.

The second wave is represented by SaaS, such as Moyun technology and Nanyan insurance. The third wave is mainly based on intelligent hardware, such as bright vision, Yunsheng intelligence, Gaoxian robot, etc. "The fourth wave is still in development. At present, we expect to be the super Internet of things. On the basis of the former Internet of things, as more devices are connected, the super Internet of things will release greater value to industry and life. " He said.

In Chen Weiguang's view, 2b is not a new thing, investment opportunities have always existed. More and more investors pay attention to the cost reduction of TMT in China, because the demand for labor efficiency is increasing. Enterprises should realize industrial transformation and upgrading by means of technology and digital management to adapt to market competition. On the supply side, new technologies are constantly applied to the process of efficiency improvement, and there will be a lot of innovation opportunities. Therefore, LanChi venture capital will focus on investment in enterprise services and hard technology opportunities based on "efficiency improvement and independent innovation".

In addition, it is worth noting that although the innovation opportunities in 2C consumer internet field are reduced, LanChi venture capital still makes repeated efforts in the subdivision field. Recently, in the field of entertainment and social networking, LanChi venture capital has invested in VIP training, art treasure, Iraq pair, Jimu and other projects.

Zhu Tianyu, managing partner of LanChi venture capital, once told the 21st century economic report that the new opportunities of social circuit must be related to technology. On the one hand, it may bring about changes in the population. At the same time, there may be new opportunities for the innovative application of technology. In particular, it will focus on the content of interactive technology, such as voice generation and innovation, etc.

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