The First Strategy Of "Jiajing Yizonglian" Intelligent Manufacturing

Oral / Jia Jing, partner of DLC capital

Collation / 21st century economic report Zhao Na

After this year's epidemic, the whole situation is quite grim, including the influence of external geopolitics, the force majeure of global epidemic situation and the transformation demand of economy from high-speed growth to high-quality growth. There are three main expectations of the "dual cycle" strategy proposed by the decision-makers in the field of industrial manufacturing: the continuous improvement of economic operation efficiency, the localization substitution and independent control of key core technologies, and the search for new economic growth points (such as new infrastructure, Internet of things, digital economy, etc.).

In the past, when PE / VC companies talked about intelligent manufacturing, they generally referred to the deep integration of new generation information technology and manufacturing industry, including opportunities in the process of digitalization, networking and intellectualization, such as perception ability, computing ability, networking ability, intelligent execution terminal, etc. Today, the scope of intelligent manufacturing is more extensive. In addition to the above mentioned, there are also opportunities for independent control and localization of key core technologies. Breakthroughs and R & D in some key areas, such as new materials and new equipment involved in the manufacturing process, need to be tackled.

German Union capital Jia Jing. Data map

The huge volume of China's manufacturing industry determines that this should be the main battlefield of innovation. "China's fertile soil" is our great advantage. For both the manufacturing industry and the consumer industry, China's local market is our unique advantage.

From the perspective of DLC, the underlying driving force of intelligent manufacturing has not changed. There are not only the demand for machine replacement brought by the demographic dividend change, but also the engineer bonus on the talent supply side, and the higher demand for digital management by the post-80s generation entering the enterprise's senior management. Nowadays, VC companies can more participate in the investment in intelligent manufacturing, including not only the digital transformation of production process, but also the promotion of this process by the application of new technologies.

Our investment in the field of intelligent manufacturing adheres to the strategy of "one horizontal and one vertical": from the perspective of technological innovation itself, it includes the opportunities brought by the deep integration of single point technology breakthrough, general technology platform and 5g, edge computing, etc.; the vertical direction is to cultivate the industry vertically, including automobile, general industry, semiconductor, etc. Rooted in the industry, professional industry cognition is an important guarantee to accurately judge the three elements (core technology, scene and landing ability) of intelligent manufacturing investment target.

Our team has been emphasizing the strategy of centering on the fulcrum base area, linking the points, lines and surfaces. For example, in the field of unmanned and intelligent, we have invested in UAV AVIC intelligence, UAV Ground Station Tiancheng Yibang, UAV communication link ruixinfeng, mobile robot bukesi, light industrial robot Luoshi, etc., which together constitute a complete intelligent unmanned system.

In the past two years, there have been many CVCs emerging in the market. For us, an investment institution deeply engaged in vertical industry, there is a lot of complementary cooperation with industrial capital, which is reflected in the balance of complementary investment stage, complementary industry resources and the voice of enterprise management team.

Capital market reform continues, including the registration system of the science and technology innovation board and the growth enterprise market, which not only provides us with a more smooth exit channel, but also encourages us to deeply participate in early science and technology investment. These are also the crowding effect of capital under the dual cycle system.

After the opening of the science and technology innovation board, the time cycle from the establishment to the listing of enterprises has been shortened. Many enterprises can be IPO listed after 5-7 years of development. Some projects we invested in have also developed into pre IPO enterprises. In the past, some markets believed that the development cycle was long and they did not dare to invest easily. Now they can be included in the scope of investment. Therefore, the crowding effect of policies on capital has already appeared. From the result, our investment will also cover the earlier and later stage.

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