The meeting with Luo Zhuo, the founding partner and chairman of Qingkong Ginkgo, was selected at the business incubator of Aoki Science and Technology Park.

Zhang Yida walked through the incubator hall where countless small start-up companies were distributed, and looked at the immature faces in the shared office, suddenly as if he was in a different world.

More than three years ago, I and Lin Zhenyang and a group of people nested in the incubator of the Beijing University Entrepreneurship and Entrepreneurship Center, humming and humming to start a business.

However, I was lucky, and I didn't stay for two months before I got the financing and moved out.

Aoki, like Kyoto University, also has its own science and technology innovation park and incubation center.

One of the four sub-funds of the National Small and Medium-sized Enterprise Development Fund, the Beijing office address of the National Small and Medium-sized Enterprise Development Fund is on the 17th floor of Block C next door.

Qingkong Ginkgo Fund is the manager of this fund.

The year before last, the Ministry of Finance, the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the National Development and Reform Commission, and the State Administration for Industry and Commerce issued the "National Small and Medium-sized Enterprise Development Fund Sub-fund Management Agency Public Bidding Project" as the tenderer, and publicly tendered the fund manager to the whole country.

Qingkong Ginkgo stood out among 55 bidding institutions across the country and won the bid with excellent results.

In addition to the 1.1 billion yuan contributed by the central government, the other 3.4 billion yuan was all contributed by Qingkong Ginkgo and other social capital, and this sub-fund with a management scale of 4.5 billion yuan was jointly established.

Qingkong Ginkgo is a venture capital institution jointly established by Tsinghua Holdings Co., Ltd. and the fund management team.

The specific model is that the school pays to be LP, and outstanding graduates of Aoki University and private equity bosses are GPs.

In addition to various investment funds, Aoki University's school-run enterprises also include many well-known companies such as Unisplendour Group and Tongfang Co., Ltd.

Jingda is more well-known here is Jingda Founder, Jingda Resources, and Jingda Jade Bird.

The largest and best school-run enterprises are Beijing University and Aoki, with total assets of hundreds of billions and net assets of tens of billions, and their listed companies cannot be counted on one hand.

But this is all superficial prosperity, and the official show that school-run enterprises have become the hardest hit areas of anti-corruption in colleges and universities.

School-run enterprises let the vice president of the university concurrently serve as the chairman of the school-enterprise, and the professor is also an executive, and the scientific research personnel are not like the scientific researchers, and the professors become mercenary corporate executives.

Zhang Yida is very disgusted with this practice, and it would be good to use the financial allocations and donations received by the school to invest as an LP, and the school should do a good job of learning.

However, in this society, everything is about money and making money, and it is difficult to say.

Under the leadership of the front desk, Zhang Yida came to an office of the incubator and met Luo Zhuo, who was full of silver hair.

"Mr. Zhang, hello!"

Luo Zhuo stood up to greet him and stretched out his right hand.

Zhang Yida shook hands with him, "Mr. Luo, hello." ”

After taking a seat, Luo Zhuo glanced around and said with a smile: "Don't blame Mr. Zhang, I chose to meet here, firstly, because I happened to be here to talk about the project."

The second reason is that the environment here is very much in line with the topic of today's discussion. ”

Zhang Yida was a little stunned, and didn't understand the second point too much.

Luo Zhuo didn't explain too much, got up and said, "Let's go, let's go out and have a look!"

Zhang Yida followed behind Luo Zhuo, wanting to see what kind of medicine was sold in his gourd.

Walking to the hall, Luo Zhuo smiled and asked, "What do you think of the environment here?"

"Ok, bright and spacious, with the opportunity to give birth to a great company. ”

"Hehe, I don't dare to set such a big goal, and it's good that many small startups can survive. ”

Luo Zhuo took Zhang Yida around again, visited several small start-ups, and talked to several founders.

"The National SME Development Fund focuses on investing in small and medium-sized start-ups in the seed and start-up stages.

Strictly speaking, Ruixin Group is no longer a small and medium-sized enterprise. ”

The two returned to the office, and Luo Zhuo began to get straight to the point.

Zhang Yida nodded, Ruixin Group's revenue and net profit have been able to kill many listed companies in seconds, and it really does not match small and medium-sized enterprises.

"However, we are still very interested in Ruixin Group. It is possible to invest. ”

Zhang Yida guessed that it wasn't that simple, right?

Sure enough, Luo Zhuo said: "In addition, we hope to reach a strategic cooperation with Ruixin Group. ”

"What cooperation?"

Zhang Yida asked quietly, and he knew that things were definitely not so simple.

"Isn't Ruixin Group engaged in corporate credit investigation and corporate finance? We hope that Ruixin can provide certain credit support to the enterprises invested by the SME Fund. ”

Zhang Yida didn't speak, but thought quietly.

After a while, he asked, "What about the number of enterprises and the specific amount of credit?"

Luo Zhuo waved his hand, "The number is not much, and there are less than a hundred projects invested by small and medium-sized enterprises at present.

If the specific amount is concerned, it will be based on your Ruixin review. ”

The corners of Zhang Yida's mouth raised, he understood this person's thoughts, and it was a clever plan of "killing two birds with one stone", and he had a good calculation.

"The state has regulations that P2P platforms cannot lend more than 1 million yuan to enterprises. ”

"1 million. ”

Luo Zhuo frowned, "A little less, it should be enough for these companies settled in the shared office."

But for companies that have obtained millions, tens of millions of equity financing, I am afraid it is a drop in the bucket. ”

"Mr. Luo, Ruixin Group can't afford the development of dozens or hundreds of companies.

Enterprises that can obtain financing should have a large size, and they should seek credit support from banks!"

Luo Zhuo smiled bitterly, "On the bank side, we have talked a lot, but most of them dislike start-ups without R&D results.

Or that there are R&D results, but they have not yet started commercialization.

At present, the SME Development Fund invests in enterprises in advanced manufacturing, new energy and new materials, biomedicine and other fields.

These fields of science and technology require money and time to achieve results.

The vast majority of domestic start-up enterprises play a role in the development process of equity financing.

The small and micro enterprise lending market has always been a development problem, and I heard that Ruixin Group has a very mature solution, so I thought to see if you can solve one or two?"

Zhang Yida has a headache, how can he answer this?

"Xinglong Loan has been focusing on the supply chain financial market before, and after the acquisition of Wezhong, we have entered the tax loan market.

But for the tech sector, to be honest, we don't have a mature credit package. ”

Luo Zhuo nodded, "Enterprises in the technology field are indeed difficult to evaluate. ”

He turned his head to look at Zhang Yida again, "But I heard that Ruixin Group intends to launch an intellectual property platform after acquiring Tianyancha?"

"Yes, there is an idea, but it has not been implemented yet. ”

Luo Zhuo asked: "Can this knowledge product platform be used to evaluate the value of technology companies' R&D achievements and patents, and then grant corresponding credit lines?" ”

"Mr. Luo, you are talking about "intellectual property pledge financing", right?"

Luo Zhuo smiled, "Yes, that's it, if Ruixin Group can launch corresponding credit products, it can benefit thousands of small and micro enterprises." ”

Luo Zhuo's suggestion is indeed good, and it coincides with the strategy of Ruixin Group to launch an intellectual property and enterprise service resource sharing platform in the future.

Provide enterprises with the creation and protection of trademarks, patents, copyrights and other intellectual property rights, as well as the purchase and sale of intellectual property rights, pledge financing, licensing and cooperation, rights protection litigation, etc.

This is what Zhang Yida wants to build, a one-stop full-chain service platform that integrates intellectual property rights from ownership to protection and then to trading.

In addition, it will also cooperate with Tianyancha to provide one-stop corporate services such as company registration, domain name trading, CRM system, marketing SaaS system, cloud services, small program customization, financial and tax agency, equity incentive plan planning, etc.

Anyway, the service is very perfect, whether it is a start-up, a development stage, or a mature enterprise, Tianyancha and the intellectual property platform can provide corresponding services.

"It's okay, but it takes some time to build the platform and the production plan. ”

Luo Zhuo nodded, this is what he wanted.

The SME Development Fund will invest in hundreds, if not thousands, of enterprises in the future.

With so many companies, as a fund manager, he must take care of the growth of the company.

Ruixin Group is the nurse he is looking for, and he will accompany the growth of investment companies.

Luo Zhuo is very selfish, and Zhang Yida can also see this point.

However, this is not important, Ruixin Group will cut into more fields to support small and micro enterprises.

Even if Luo Zhuo doesn't mention this matter, Ruixin Group will explore and try in the future.

Now that it is proposed, it is just right to use the enterprises invested by the SME Development Fund as guinea pigs.

The two had another conversation, and Luo Zhuo decided to invest 230.8 million yuan in Ruixin Group.

Ruixin Group's current valuation is 22.85 billion yuan, and after receiving the 230.8 million B+ round of financing, the post-investment valuation will reach 23.0808 billion.

The SME Development Fund just received a 1% stake in Ruixin Group.

Luo Zhuo originally decided to invest 130 million yuan in Ruixin Group.

Zhang Yida did not agree, and he was ready to ...... the funds lent by Ruixin Group to the technology enterprises under the SME Development Fund

Anyway, I don't feel sorry for the loss, just be generous to others.

Luo Zhuo thought about it, and 130 million yuan was invested in small and medium-sized enterprises, which is an astronomical amount.

Invested in Ruixin Group, not even 1% of the shares.

In the end, he decided to invest 230.8 million, which is exactly 1% of the shares.

In fact, Zhang Yida still wants to fool more.

But Luo Zhuo is unwilling, the original intention of the establishment of the SME Development Fund is to invest in small and micro enterprises.

The total scale of their sub-fund is only 4.5 billion, and if they really invest 1.8 billion yuan in Ruixin Group, then they will not be able to play it next, and it will also go against the original intention.

As for the 800,000 odds, Zhang Yida wants to erase them.

But Luo Zhuo asked for official business, as much as he could.

Zhang Yida couldn't cry or laugh, feeling that Luo Zhuo was very contradictory, with a small calculation for a while, and an iron-faced selflessness for a while.