Capital.

Hua Yi Capital Office.

Lei Dongming sat opposite Zhang Yida with a tired face, sighed and said:

"I didn't live up to your expectations, things didn't work out. ”

"Haven't you done it all?"

Zhang Yida took a sip of the tea on the table, and then asked.

"That's not true, there are still gains, but the two largest ones haven't won. ”

Lei Dongming shook his head, put his hands behind his head, lay on the soft sofa, looked at the ceiling of the roof, and sighed.

"We are not familiar with the market in Southeast Asia, and we can't be a fat man in one breath.

Don't rush, take your time!

Tell us about your trip to Southeast Asia!"

Zhang Yida was not discouraged, but comforted Lei Dongming.

Some time ago, after Lei Dongming completed the domestic investment task instructed by Zhang Yida, he went to Southeast Asia again, traveling around the world to find the unicorn that Zhang Yida said.

Lei Dongming thought about it, sorted out his language, and began to say:

"First of all, I went to Singapore and visited the founder of Grab, Chen Bingyao.

Grab's current momentum is very good, and it only closed SoftBank's $250 million Series D funding round last month, valuing it at more than $1 billion.

We went a step too late, Chen Bingyao said that the funds are very sufficient, and there is no need for financing in the near future, and we are welcome to participate in Grab's Series E financing. ”

Zhang Yida nodded and said that he understood, and felt sorry in his heart, Grab's previous life was valued at more than $14 billion in 2019, making it the largest unicorn in Southeast Asia.

But Zhang Yida knows that Lei Dongming can't be blamed for this matter.

Grab is a sweet and sweet spot, everyone is staring at it, there is no shortage of investors at all, and it is difficult to get into it......

Lei Dongming also saw Grab's development potential, and felt that it was a pity that he did not invest in it. Rubbing his temples, he continued:

"Then I went to Lazada, which had $154.3 million in revenue in 2014 but a net operating loss of $152.5 million.

Don't look at the loss so much, there are many investors who want to rush in.

Also last month, Temasek invested 200 million euros in it.

Hey, it's a step too late, and we can't get involved. ”

Zhang Yida knew that he came to Zanda because it seemed that Ahri would buy it next year as a bridgehead to enter Southeast Asia.

Lei Dongming continued:

"I didn't see much opportunity in Singapore, so I went to Indonesia again.

The first to go is Gojek, a ride-hailing company, or "online motorcycle", which is a competitor to Grab.

Last month, they raised $10 million in Series A funding at a valuation of $50 million.

After talking to their founder, he agreed to an additional $5 million in Series A+ funding.

At the same time, he also hopes that Ruixiang can establish some technical cooperation with their company, such as mobile payment ......"

"You didn't take Grab, you took Gojek?"

Zhang Yida was a little surprised, Gojek is not a nobody, also known as Dog Jack, in his previous life, he was a unicorn company in Southeast Asia second only to Grab, with a valuation of $9.5 billion.

A national-level application covering 260 million people in Indonesia, benchmarking against China's products, is Didi + magnesium group + payment bei + 57 home + flash delivery......

Google, Penguin, and Goudong have invested more than a billion dollars in him, and Rice and Magnesium are also his shareholders, and the shareholder lineup is very luxurious.

"It's only invested 5 million US dollars, and you don't even have 5% of the shares, so you should try to get more shares? Even if you can't get 20%, you have to get 10%?"

Zhang Yida felt a little at a loss, so he asked Lei Dongming like this.

Lei Dongming smiled bitterly and said:

"I also want to invest more, $10 million, $20 million we can't get it.

Their founder was so stubborn that I said to give you more money, but he didn't agree.

He said: They released 20% of the share in the A round of financing, and the A+ round released a few points at most. ”

When Zhang Yida heard him say this, he also felt that he was too idealistic, so he took a long breath and said:

"A few points are a few points! Go in first and occupy a pit. In the next few rounds of financing, we will continue to increase the weight.

By the way, you said they want to work with us for mobile payments?"

"Yes, mobile payments in our country have begun to be famous all over the world, and he has naturally heard of it.

They do the application of playing motorcycles, and they will recruit a lot of riders, and passengers have to pay after the car, and get a collection code or something, which is much more convenient. ”

Lei Dongming explained to Zhang Yida.

"Well, we sent a team to Southeast Asia in the next year, and we started to expand our business in Southeast Asia based on the cooperation with Gojek. ”

Zhang Yida smiled at the corner of his mouth, he was really sleepy, someone sent a pillow!

Bound to Gojek, the Indonesian market has no way to run.

Lei Dongming nodded and said that he agreed with Zhang Yida's approach, and began to talk about other companies:

"Tokopedia is an Indonesian C2C e-commerce platform, founded in 2009, and completed the E round of financing of 100 million US dollars in October last year, with a valuation of about 700 million US dollars.

After talking to their CEO, they said that they needed to study and discuss, but they did not give us a reply for the time being. ”

"Okay, keep following up, and if they're willing to accept the investment, put three or five thousand dollars into it!"

Zhang Yida commanded.

Tokopedia is also one of Ahri's horses in Southeast Asia, and its valuation will rise to $7.3 billion in a few years, which is worth a deal.

"Okay, I'll follow up. Let's talk about the Indonesian version of "where to go"!

Lei Dongming said with a smile that he went to Southeast Asia and found that the products of many Internet companies can be benchmarked against China.

To continue:

"Traveloka was founded in 2012 and now has online air ticket bookings, hotel room bookings and other businesses.

Their Series A funding was in August of '13 and raised millions of dollars.

Their CEO talked to me about how they now want to go out of Indonesia and into other countries in Southeast Asia.

They are short of money and urgently need a Series B funding round to provide ammunition for their expansion plans.

They want to raise $50 million at a $400 million valuation.

I haven't promised them yet, I'm going to talk to you, what do you think?"

After speaking, Lei Dongming set his eyes on Zhang Yida and wanted to hear what he had to say.

Zhang Yida vaguely remembered that the valuation of this company in his previous life reached more than 4 billion US dollars, and Goudong, Gaoling Capital, and Black Shirt Capital all invested.

So Zhang Yida said:

"You can promise them that you can fight for as many shares as possible, and it doesn't matter if you invest more money. ”

"Well, I also think this company is very good, Southeast Asia travel is becoming more and more popular.

In the future, they will have a quarter or a fifth of Ctrip's volume, and we will also earn it. ”

Lei Dongming expressed his opinion.

Zhang Yida smiled, and said secretly in his heart, brother, you are really accurate, in the 19 years of his previous life, his volume was just one-fifth of Ctrip, which had a market value of 20 billion US dollars.

"Then I went to Vietnam and visited the CEO of VNG. ”

Lei Dongming tilted his head and said, then looked at Zhang Yida with a puzzled face, and said with some grievances:

"Their CEO told me there was no need for financing, and in '08 they got investment from Penguin.

Then in 2010, there was another round of C financing, and there has been no financing since then.

Listening to his tone, it is not bad for money.

Yida, is your information wrong? Let me go to Vietnam for nothing. ”

"Uh...... Maybe they're mistaken! They're game companies, aren't they? Game companies are generally not bad for money. ”

Zhang Yida said a little embarrassed, he roughly recalled the biggest unicorns in Southeast Asia in his previous life, and then gave Lei Dongming a list and asked him to go to Southeast Asia for inspection.

Now that I think about it, it's a bit too rough!

"Seaman?"

Zhang Yida is very interested in this group company, Chen Ou and his classmates founded the game battle platform GG-Game, which was later renamed Garena, which is also the predecessor of the Sea Group.

Mr. Chen later sold his stake in the company and went to study at Stanford University.

Later, he returned to China to found Jumei and embarked on a new peak in life.

In a few years, I will see the ghost of Jumei, and then look at Sea's prosperity.

I don't know if Chen Ou will regret his original choice.

"No play, Penguin owns 40% of the shares, and Sea is equivalent to his core agent in Southeast Asia. ”

Lei Dongming shook his head, in Singapore, he also came into contact with this company.

The company is a good company, but it is too dependent on penguins.

"But in addition to games, I think they have also launched the AirPay service to enter the field of digital payments, and the Shopee service to enter the field of e-commerce.

The penguins have made a good deal, and Sea will definitely achieve a good result in a few years. ”

Lei Dongming expressed his views on Sea Group again.

Ahri won't let him get complacent for long. ”

Zhang Yida shook his head, Sea's Shopee, Lazada, and Tokopedia will continue a long e-commerce battle in Southeast Asia.

Behind the sea are penguins.

Behind Lazada is Ahri.

Behind ToKopedia is Dog East.

It's another love and killing that has been lingering for many years!

"What do you mean, Ahri is going to expand his business to Southeast Asia?"

Lei Dongming looked at Zhang Yida and asked.

"Jack Ma is a very ambitious person, and he has always wanted to make Ahri a world enterprise, how can he not enter Southeast Asia? In the future, Africa, South America, and Europe may have to cover the past. ”

Zhang Yida thought that in his previous life, Ahri vigorously expanded his business around the world, and Leech Financial Services was also staking around the world, and he was very emotional and fascinated in his heart.

"Then we must also seize the time to lay out and open up the situation in Southeast Asia as soon as possible. ”

Lei Dongming is also very ambitious, after inspecting the Southeast Asian market, he feels that there are many opportunities here, and Huayi Capital's business can also be expanded here.

Zhang Yida nodded, and began to think about it in his heart.

Grab, Lazada, VNG, and Sea have not been taken, Gojek and Traveloka have confirmed their investment intentions, and Tokopedia is still waiting for a reply.

Of the first 7 Southeast Asian unicorns to be circled, Lei Dongming won 2 or 3.

Zhang Yida is quite satisfied with this result.

In a few years, these companies will be the most valued Internet companies in Southeast Asia, and what they buy is what they earn.

The most important thing is that Zhang Yida plans to use this as a springboard to gradually extend Ruixiang's business tentacles to Southeast Asia.

The financial return on investment is secondary, and the most important thing is that it is strategic.

"If we want to invest in these companies in Southeast Asia, we will have to spend more than 100 million US dollars, and the money from Ruixiang Industry Fund is not enough. ”

Lei Dongming reminded.

"Oh, has the first $300 million industrial fund been spent?"

Zhang Yida hasn't paid attention to this area of finance for a long time, but he is constantly providing a list of invested companies.

"In recent months, we have invested in more than 20 domestic companies, and we only have tens of millions of dollars left. ”

Lei Dongming also saw Zhang Yida's speed of spending, and the $300 million from Ruixiang Industrial Investment Fund bottomed out all at once.