The person in charge of Nanyue Capital is called Cai Jianping, who is just over 40 this year.

was only a manager of an investment company before, but was excavated by Shen Lang and became the head of Nanyue Capital.

Cai Jianping, age: 40, occupation: investor 87 (95), note: late bloomer. ”

In the venture capital circle, there are those who can become famous at a young age, but more of them are still tempered by the years and are steady.

Cai Jianping has been in the venture capital circle for 20 years, and has seen all the winds and waves.

Previously worked as a fund manager in a medium-sized venture capital institution, Cai Jianping did not hesitate to choose to change jobs in the face of Shen Lang's invitation.

Cai Jianping's ability is that Shen Lang gave Cai Jianping no more than 50 million US dollars.

Shen Lang also bought two skills for Cai Jianping, [Insight into the Essence] and [Unique Vision]

[Insight into the essence: Enhance the user's ability to judge the essence of others.] Price: 100 million RMB】

[Unique vision: There is a certain chance of digging out unicorn companies, and the value of startups is keen. Price: 400 million RMB】

To put it bluntly, investing in a company is largely based on the founder of the company, and the art of matching people is a science.

Top investors can discern whether the investment target is really capable of starting a business, and some investors are fooled into losing their money.

Just two skills, Shen Lang spent 500 million on Cai Jianping, but these will not be lost.

Even if Cai Jianping swells one day and wants to leave to work alone, the skills on his body can be recycled when the time comes.

As long as Cai Jianping has a good vision, even if he invests in a unicorn company, he can earn back the cost of Shen Lang's investment.

Cai Jianping did not have such a good treatment as Shen Lang gave Li Xiang, only a fixed base salary.

However, if he really invests and gets huge returns, Shen Lang will definitely not be stingy with rewards.

There are many fund managers like Cai Jianping, and Cai Jianping's encounter with Shen Lang can be said to be very lucky.

Even if there is no Cai Jianping, there will still be Dong Jianping.

As long as Shen Lang gives them krypton gold, they can also manage Nanyue Capital well for Shen Lang.

Inside the conference room.

Zhu Ziwen smiled at all the investors, and then began to introduce the achievements of Microcloud Music.

"Since its launch, the number of registered users has exceeded 400 million, the number of monthly active users has exceeded 200 million, and the number of digital music copyrights owned by us has reached 40% of the global copyright number......

At this time, a voice from investors came: "I want to know the paid conversion ratio of microcloud music." ”

Shen Lang glanced at it, it was Shen Peng, the soul of Sequoia Huaxia.

Ranked first among global investors, and his vision is very vicious.

Shen Peng and Shen Lang had also met in the drinking game of Wang Xing and Liu Qiangxi's group before.

Sequoia Huaxia has invested in many companies, and has also co-invested and cooperated with Penguin many times.

Zhu Ziwen switched a PPT and said: "At present, the number of paying users we have is 9 million, and the conversion rate is 4.5%. ”

Shen Peng nodded with satisfaction, this data is still very real, and the conversion rate of the Penguin Music platform is even lower, only 3.6%.

There are still a few domestic netizens who support genuine payment, which is also a headache for many online music platforms.

No matter how large the user base is, the conversion ratio of paying users will not go up, and it will be in vain.

The Penguin Music platform is seeking to go public, and the Penguin Group is positioned with a market value of about $30 billion.

Penguin has just over 400 million monthly active users, and the digital music copyright is about 50%.

With the Penguin Music platform as a comparison, Chen Yun's valuation of $6 billion is not high.

Zhu Ziwen continued: "The biggest problem of domestic online music platforms is the high cost of copyright and the low proportion of paid conversions. ”

"A ten-year contract?"

Many investors were surprised that this period was too long.

Generally, music companies sign contracts with these online music platforms every three years.

In the previous competition, Penguin Music even offered a $350 million signing fee + $100 million equity to impress Universal Music.

Fortunately, the contract was signed by Microcloud Music first, which made Penguin Music miss the opportunity.

It is equivalent to Penguin Music offering a price of $150 million a year, trying to impress Universal Music.

Copyright has to be contested, but at the same time, the high copyright fee also increases the high operating costs of online music platforms.

"We are currently focusing on opening up the industry chain and building a self-centered music ecosystem.

To the upstream of the music industry chain, we have reached cooperation with a number of record companies and copyright agencies, and have also supported and signed many musicians.

Including the second season of "Tomorrow's Son", "Creation 101" and other online variety shows investment, program production and distribution.

Downstream, we are also working hard to expand offline performances, ticketing, offline KTV and other businesses, covering major scenarios such as user audio-visual, singing, playing, and offline consumption. ”

Zhu Ziwen said a lot, and it can be summed up as nothing more than leaning against the big tree to enjoy the shade.

The concerts of many singers of the Vientiane Group, such as the recent national tour of Rocket Girls, have Microcloud Music participated.

Just pointing to the scale of online music, which is less than 10 billion, cannot support the valuation of the two giant music platforms at all.

Only by constantly extending your hand to a broader space can you continue to improve your valuation.

However, there is one thing that these investors are very sure of, with the continuous strengthening of the closed loop of micro cloud music's business.

It will inevitably produce more possibilities in business models and imagination of profits.

Shen Peng was the first to applaud in approval, and the other investors did the same.

Chen Yun and Shen Lang glanced at each other, very satisfied with Zhu Ziwen's performance, this is what the person in charge of a super unicorn should look like.

The subsequent financing went relatively smoothly, and Microcloud Music took out 10% of its shares for financing this time, and according to the valuation of 6 billion US dollars, it was able to raise 600 million US dollars.

Zhu Ziwen also made it very clear that in addition to paying for the purchase of copyrights by EMI Records, the rest of the funds raised are mainly used for business development, and efforts are made to enhance the business closed loop of micro cloud music.

After discussion, the five families were divided equally, which was also a distribution method that everyone was extremely satisfied with.

Cai Jianping also won 2% of the shares on behalf of Nanyue Capital, and compared with Douyin, the valuation of Micro Cloud Music is much cheaper.

Nanyue Capital only needs to pay $120 million to Microcloud Music.

Only Shen Peng and Baidu are a little sorry, this kind of financing, both of them can afford it alone.

However, as long as they can invest, it is nothing more than making a small profit, and Shen Peng and they are also very optimistic about the development of micro-cloud music.

There is definitely no problem in going public, with the Penguin Music platform as a reference, at least it is not difficult for the valuation of micro cloud music to exceed 20 billion US dollars.

Shen Peng is in a good mood, not to mention anything else, just Chong Shen Lang, Shen Peng will not hesitate to invest in micro cloud music.

During this time, the news that Shen Lang made more than 10 billion yuan spread all over the venture capital circle, who is not envious?

Shen Lang is not a small minion in the investment world now, and his every move will be noticed by many people.

Many people even plan to follow Shen Lang to pick up leaks, and the microcosm is a well-known unicorn paradise.

Take out any subsidiary, and you are all a member of the unicorn.

Shen Peng intends to make friends with Shen Lang, maybe when he can invest in a few good projects and make tens of billions of dollars.