On March 18, 2016, Room 1608, Pudong Development Building, Slope Industry Investment Fund Management Co., Ltd. (Slope Industry Fund) was officially established.

Slope Investment and Puhai Guotou jointly initiated the establishment of the Slope Industry Fund, focusing on equity investment, with a total amount of RMB 5 billion, with Slope Investment contributing 350 million yuan and Puhai Guotou contributing 150 million yuan.

Zheng Wentong will also serve as the chairman and president of the Slope Industry Fund, Wang Bin will serve as the vice chairman, and Liang Hui will serve as the executive director of the Slope Industry Fund, assisting Zheng Wentong in the specific management affairs.

Slope Investment and Puhai Guotou are the general partners (GPs) of Slope Industrial Fund as sponsors, and other investors serve as limited partners (LPs).

While the limited partners provide the vast majority of the funds, they will not participate in the investment and operation of the slope industry fund, while the general partners provide good investment management and decision-making to achieve fund profits and obtain investment returns, and the limited partners will ultimately obtain investment returns by providing funds.

Zheng Wentong promised investors in the slope industry fund a return on investment of 20%, requiring investors to lock in for 36 months, and can withdraw after 3 years.

This means that other investors will hand over a huge amount of 4.5 billion yuan to the slope industry fund to take care of, and after 36 months, the 4.5 billion funds will generate a total of no less than 2.7 billion yuan.

Of course, if the 5 billion becomes 10 billion, or even 20 billion, Zheng Wentong only needs to pay 7.2 billion principal plus income to investors other than Kaipuhai State Investment.

If the slope industry fund loses money, then the 600 million principal of slope investment and Puhai Guotou needs to bear a greater proportion of losses.

The Slope Industry Fund is actually more like an enlarged version of the Slope No. 2 Industrial Fund, with a longer period of time, up to three years, and a larger scale of funds, from 500 million to 5 billion.

There are many GPs that will even set the investment ratio at 1%, and the LP investment ratio is as high as 99%, and it is already very conscientious for Slope Investment and Puhai Guotou to contribute 10% as the initiators.

If the scale of the Slope Industry Fund reaches 20 billion after three years, after deducting the 6.4 billion principal and income returned to the LP, and then subtracting the actual operating costs of the fund, Slope Investment and Puhai Guotou will divide the remaining income according to the ratio of 7 to 3.

The 350 million invested by Slope Investment in the Slope Industry Fund will be exchanged for an astonishing income of at least 8.5 billion, which is the charm of capital operation.

Of course, if the slope industry fund loses money, such as 1 billion, then slope investment and Puhai Guotou will bear the loss of 500 million, and other investors will share the investment loss of 500 million. The most obvious truth in the capital market is that high risk brings high returns.

At the inauguration ceremony, Pujiang New Area. District. Changyi Zhongnan, Wang Bin, chairman of Puhai State Investment, and Zheng Wentong, president of slope investment, unveiled the slope industry fund together.

Yi Zhongnan delivered a speech at the unveiling ceremony, "The establishment of the Slope Industry Fund marks another large-scale equity investment fund in Pujiang New Area. Slope Investment is an excellent representative of private enterprises in Pujiang New Area, and Puhai State Investment is also a state-owned capital investment platform, which is also a strong combination of state-owned capital and private capital. ”

"The establishment of the slope industry fund is in line with the professional affairs handed over to the professional management team to do. I also hope that the Slope Industry Fund can better help the economic development of Puhai and Pujiang New Area, support a number of outstanding Internet start-ups, accelerate the development of the Internet industry, and help the real economy to achieve transformation and upgrading. ”

"The city and the district attach great importance to the work of investment funds, and have been managing and promoting the innovation of financial services, in-depth layout of private equity institutions and the investment industry, constantly optimizing the ecological environment, and actively resolving and preventing financial risks. I also hope that under the leadership of Chairman Zheng Wentong, the Slope Industry Fund can achieve faster, better and more stable development, and realize a virtuous cycle of economy and finance. ”

Yi Zhongnan's guiding speech won a round of applause from everyone, and Zheng Wentong, chairman of the slope industry fund, and Wang Bin, vice chairman of the board of directors, made a brief speech later.

Xiong Xiaoge of IDG Capital, President Wang's Pulse Investment, Huang Zheng's Magic Capital, Yu Jianjun of Himalaya, Xu Yi of Station B, Qu Fang of Xiaohongshu, Cai Haoyu of miHoYo and representatives of Venus Venture Capital all attended the ceremony.

Xiong Xiaoge and Yu Jianjun sat together and chatted, "Zheng Wentong, this guy, when I first met him, I could only call hundreds of millions of funds at most, but now I can't do it, I can call tens of billions of funds, and the slope system has finally become a climate!" ”

"Who's to say it isn't? Compared with your IDG, Sequoia Huaxia, Hillhouse Group, and Today's Capital are of course still far away, but his development time is also short. ”

"In fact, the city and Puhai Guotou suggested that the fundraising scale of the slope industry fund should be set between 8 billion and 10 billion, but Zheng Wentong took the initiative to reduce the scale and set the fundraising target at 5 billion, and the enthusiasm of investors was beyond imagination." Yu Jianjun revealed the inside story.

"Just kidding, Zheng Wentong himself set the exit time of the slope industry fund at 36 months, the promised annual return on investment of 20%, invest one million, and give you 1.6 million in three years. Xiong Xiaoge said.

"If this were someone else, I really wouldn't have been able to invest, after all, investment is risky, but who made Zheng Wentong's reputation as a genius investor so loud?" Yu Jianjun spread his hands.

Xiong Xiaoge looked at the high-spirited Zheng Wentong, he was actually very optimistic about the star project of Pinduoduo, who would have thought that Zheng Wentong's slope investment actually invested in Pinduoduo before IDG Capital?

There are three reasons why Zheng Wentong was able to launch an equity investment fund with a total of 5 billion yuan together with Puhai State Investment Corporation.

First, Zheng Wentong's brilliant record in equity investment, slope investment has now participated in Noon Sunshine, B station, Ximalaya, miHoYo Technology, Xiaohongshu, Pinduoduo, Heytea and Naixue's tea and many other companies, and the valuation of these companies has risen significantly.

Second, the great success of Slope 1 and Slope 2. Zheng Wentong issued two private equity funds of 500 million yuan in succession, and the partners who bought these two funds tasted the sweetness.

It is true that Zheng Wentong of the two private equity funds are the biggest winners, Zheng Wentong with the help of the slope No. 1 private equity fund, a total of 563.3 million, to obtain about half of the equity of Yanjing Pony Galloping, the current value of this part of the equity has exceeded 2.5 billion.

The same is true for the Slope No. 2 Private Equity Fund, which invested a total of 120 million yuan and finally reaped a profit of 300 million.

Third, the good cooperative relationship between Slope Investment and Puhai Guotou. In the process of slope investment becoming the owner of Pony Galloping, Zheng Wentong introduced Puhai Guotou as a strategic partner.

Puhai Guotou used 160 million yuan to buy a 10% stake in other investment institutions led by Xinzhongli.

By the time Wanda Cinemas took a stake in Pony Galloping, this part of the equity was already worth 400 million. Puhai Guotou transferred 5% of the equity to Wanda Cinema Line, returning 200 million yuan, while also retaining 5% of the equity of Yanjing Pony Galloping, which is currently worth more than 250 million.

"The First Evolution"

Therefore, in the B round of financing of the Stock Connect, Puhai Guotou took over 10% of the equity of the Stock Connect with 100 million yuan.

With the above three reasons, Puhai Guotou is also more active in the establishment of a slope industry fund, and has invested 150 million yuan. After all, the 160 million that Puhai Guotou bought 10% of the equity of Pony Galloping has become the current 450 million.

Puhai Guotou is very interested in Zheng Wentong's merger plan of universal WIFI and master key, as well as Weike Xinke's A round of financing plan, otherwise Wang Bin, as the chairman of Puhai Guotou, would not have to stand for the slope industry fund in person.

Moreover, Zheng Wentong has been in contact with various investment institutions on Hong Kong Island, and has close contacts with Cheng Wei, vice president of Deutsche Bank Asia Pacific, and Deutsche Bank is very interested in re-operating the listing plan of Pony Gallop on the Hong Kong Stock Exchange.

If Yanjing Pony Galloping can be successfully listed on the Hong Kong Stock Exchange this year and next year, then the value of the equity held by Puhai Guotou is expected to double again, and when Wang Bin sees Zheng Wentong, it is estimated that he will see the God of Wealth.

Thinking of this, Xiong Xiaoge said to Yu Jianjun, "Actually, I feel that the development route of Weike Xinke is more similar to that of penguins. The difference is that Brother Pony on the penguin side is responsible for the company's operations, Liu Chiping is responsible for investment, and Zheng Wentong does both jobs alone. ”

"It's too rare for a compound talent like him who understands investment and operation to do so, and the most outrageous thing is that he is just an ordinary 211 undergraduate." Xiong Xiaoge felt that the probability of him and Zheng Wentong meeting in the capital market in the future was undoubtedly much higher, after all, the slope system at this time could be regarded as a new force in the capital market......

Zheng Wentong didn't know Xiong Xiaoge's thoughts, he was busy talking to Yi Zhongnan about his recent work.

Yi Zhongnan said: "Every time I come to the slope for inspection, I always feel that it is changing with each passing day."

Zheng Wentong said: "In fact, the policy in the district is better, and the street also provides a lot of convenience. ”

Yi Zhongnan said: "You don't have to wear a high hat for us, our principle is not to interfere with the normal operation of the enterprise, but also to prevent financial risks, the city has listed Shi Nanxiang as a model, will focus on checking whether the Internet financial company is operating in compliance." ”

"Dean Feng Qingsong's internal reference article, I have also read it here, every word is very helpful, it is very helpful to solve the old shortcomings in the Internet finance industry, and also provides practical suggestions. I noticed that Dean Feng is a supervisor of the Slope Public Welfare Foundation, you should have known each other for a long time, right? Yi Zhongnan has something to say.

"When I was in college, I participated in the school debate team, and Dean Feng was the leader of our school debate team. The legal counsel of our Slope Investment is a graduate of the University of Finance and Economics Law School, and she recommended Dean Feng to me to serve as a supervisor of the Slope Public Welfare Foundation, and I became familiar with Dean Feng. Zheng Wentong said.

"I'm going to Yanjing to attend the two sessions, culture. The leaders of the ministry also noted Li Ziqi's contribution to the promotion of Chinese culture on Weiyin. Don't just remember to promote the bamboo weaving in your hometown, you might as well let Li Ziqi also do a special issue of Shanghai-style culture. Yi Zhongnan said.

"I have also considered this aspect, at present, Puhai culture is less and less reflected in film and television works, and there is not even a soil for Puhai dialect to exist."

"We are planning to hold a Shanghai-style cultural script writing competition to reward those scripts that reflect the local customs of Puhai, and we will first consider moving the script to the Puhai Drama Art Center, and then consider making the script into a TV series." Zheng Wentong said about the eucalyptus.

Yi Zhongnan was very happy and praised Zheng Wentong, "Your idea is very good, the script must be the best of the best, not shoddy." After the script is out, you will have a good discussion with Hu Xinglin of the Puhai Drama Art Center, and when the drama is rehearsed, I will go to the city leaders to accept the results. ”