Often be between Tokyo of American louis vuitton outlet Silicon Valley, Japan and Beijing flitter, discuss investment project and industry development tendency together with each country copartner, the collision of wisdom always can produce the result of 1+1>2, to DCM director partner Lin Xinhe says natively first, such communication and communicate the results that always can bring expect to be less than to him.
Lin Xinhe of DCM director partner
Regard sina company as one of author, mr Lin Xinhe ever held the position of sina presiding operation official, the financing before the main business that shares sina runs activity and company to appear on the market works.
2006, lin Xinhe walks out of sina to join DCM, finished arrive from an entrepreneur the perfect transition of investor. Dedicated from beginning to end invest a domain at Internet and wireless Internet.
A few days ago, accepting ChinaVenture reporter express when exclusive special interview, "To investment, when paying close attention to without the person, it is a good opportunity probably. It louis vuitton outlet stores is a good opportunity probably..
Value Android platform enterprise to invest an opportunity
Recently, the A-Fund fund below DCM banner just first mobile Internet enterprise that invested 7 Android platform to go up, include happy element, cruel among them dish, papaya shift.
A-Fund fund, basically be the mobile Internet enterprise that goes up in order to invest Android platform is given priority to. Look DCM is right the mobile Internet enterprise on Android platform has a special liking.
The data that Gu Ge publishs shows, shipment of smartphone of 2 quarters whole world measures more than 50 million, than last year the corresponding period grew 450% .
In the meantime, according to firm of American market survey data shows Nielsen, was this year in March in American market, android makes the most popular operating system in smartphone user, surmounted IOS platform of the apple.
Mode of roaring to the force with which sth breaks out Android platform Internet develops, lin Xinhe has louis vuitton outlet online his original opinion.
"The fund with main DCM is to be used pitch different burgeoning trade pattern and different burgeoning science and technology, android is 10 years or the main chance of operating system of some of ten years of ability, in the future can be the mainstream. In the future can be the mainstream..
Look in Lin Xinhe, 7 companies such as happy element are in in open Android ecosystem relatively banner the position, these companies are in found while oneself locates, still have good mode to get the growth of dimensions sex.
The website of a gregarious game that happy element is home, and home already was put in the old Tecent that makes community game, if be done in home, happy element can be run on the platform of Tecent only, get Tecent control.
At that time, the copartner of a few Japan introduced Japanese case to Lin Xinhe, at this moment Lin Xinhe also realizes, in abroad the likelihood has some of development opportunity, bring happy element to the United States, Japan and Chinese Taiwan at that time, as a result discovery earns money in Japan the fastest is to be on the mobile phone, use Android so very sharp gain money.
And develop a tendency to prospective authentic louis vuitton outlet Internet, lin Xinhe is confident. He thinks, new commercial pattern is born possibly at any time, except the popular notion such as business affairs of existing community, electron, still have a lot of undetected new field is ceaseless and ecbolic, DCM also will dig new investment opportunity from which ceaselessly.
Go against situation and the investment that go up is politic
Should become the representing that the net is Web1.0 times, DCM investment should be become in 9 years of time after, beijing east store, Fan Kecheng is tasted, it is to clean out treasure store to rise abruptly in succession even, this tardy website of business affairs of electron of B2C of unlisted old brand also suffers controversy.
To this, lin Xinhe expresses, "When everybody is not valued, it is a good investment chance probably. It is a good investment chance probably..
As we have learned, DCM headquarters is in the United States, all set the office in Beijing, Tokyo, group member ever had rich poineering experience and investment concept. Very good referenced opinion also can offer when Lin Xinhe makes investment again.
Since investment was begun in China 1999, the enterprise that DCM place invests already exceeded 30, include: The thread of ideas in writing, should become net, easy car network, everybody net, taste meeting, wheat to include a package only, 58 with the city, 10 thousand learn education, interactive shift of 100 divisions, Chinese flowering quince, 99 quick buck, good doctor to wait a moment. Enumerate DCM louis vuitton outlet store online China invests case, achievement strikings.
Lin Xinhe thinks, DCM and mainland invest orgnaization comparing to have definite advantage, in advanced domain the helper is compared fast, in new commercial pattern and more ambiguous trade pattern the DCM on investment has advantage of a few competition really.
Outside eliminating oneself dominant position, there also is corresponding investment dimensions in capital respect. According to Introduction Lin Xinhe, 100 million dollars of 4-5 of dimensions of fund of DCM newest first phase. Every project investment is spent control in 10 million dollar, in domain of electronic business affairs, the investment of certain project can reach 20 million dollar.
DCM invests focusing of politic respect more to invest level in the early metaphase of A, B annulus, c annulus invests less sortie, this and fund dimensions are concerned. Financing of average investment project is controlled in 1000-1500 10 thousand dollars, hold fund total 3%- - 5% .
Lin Xinhe says: "Be based on these advantages, DCM has very strong risk control capacity. DCM has very strong risk control capacity..
Be faced with Internet bubble to learn control a venture
DCM is dedicated the investment orgnaization at investment Internet enterprise. Below the circumstance that exists in Internet bubble, how is DCM answered. Had experienced 2000 Lin Xinhe of American Internet foamy, in look upon China's current Internet upsurge, more be regain consciousness one minute, a minute sober.
As had felt in the industry climb roll dozen of Internet of more than 10 years veteran, although be walked out of from sina already, change body VC louis vuitton 2012 investor, dan Linxin standing grain still cannot abandon the attention to Internet domain and favour. His the slightest amount or degree is not evasive and current Chinese Internet domain invests overheat phenomenon, look in him, it is very normal that Internet has bubble.
"Bubble is some for certain, but I feel is temporary only, this also is the rule of the market. Once money is good,earn, the money of the whole world emerges. Once bad to earn, very much company is exited, form bubble easily so. And the enterprise that comes in when bubble, will encounter shuffle be washed out. Will encounter shuffle be washed out..
Lin Xinhe thinks, a lot of more current new establish fund, not very strong be on guard bubble risk consciousness, in bubble fastigium, still fool grab a project, once encounter industry cold winter, these fund be the first to be affected. And DCM invests a respect not to follow in Internet, investing the more on strategy is a kind of converse thinking.
Citing weighs Lin Xinhe, the many Internet project that tastes meeting and so on only is like before this, DCM is to be in more inchoate even 2009 enter, global banking crisis just spends the darkest hour at that time, orgnaization of a lot of investment invests because of dreading, and miss superexcellent opportunity. And at present Internet bubble upsurges, begin to chase after when a lot of fund when holding fast city in both hands to be filled with the project of rate, DCM has begun to be exited stage by stage with redound.
"Face bubble, after small-sized fund shuffles a few times disappear probably, and large fund has fight risk ability certainly. And large fund has fight risk ability certainly..
Recently, card inspect can release " the circumstance that outside waiting for Internet company condition about potato net, appears on the market is reported " be alluded extensively.
Say in the report, "The Internet enterprise that appears on the market outside our country condition is close to 40, total market prise restrains 160 billion louis vuitton outlets dollar, comparative home A in platelet and do poineering work board, almost all ' star class ' Internet enterprise all chooses to appear on the market outside the condition. Had formed serious menace to the national security of our country Internet. Had formed serious menace to the national security of our country Internet..
To sufferring the VIE structure of controversy at present, does the government superintend big stick-means of intimidation after all what course to follow? Industry is quite much apprehension, each view is differ.
"The government treats VIE is a kind of manner that be in a dilemma. " Lin Xinhe says, if do poineering work board do do not rise, good company can choose to appear on the market in abroad only. On one hand, the government wants to let good business appear on the market in home, on the other hand, know oneself again appear on the market structural system is not whole.
The portal sina that goes to the United States to appear on the market as first once presiding operation official, to VIE structure, lin Xinhe also is having louis vuitton wallets his affection acknowledge, if do not have VIE structure at the outset, the sina that perhaps he founds, go to the United States to appear on the market without the opportunity at all at the outset, can develop far from become present Internet gigantic without bully.
"The company that does not earn money cannot appear on the market in home, but to high-tech enterprise, need capital will consolidate and expand oneself, if do not have capital, can die in swaddle only, if do not have VIE to have today's sina impossibly, that is equal to strangled company of a lot of high-tech, also block up economic development. " Lin Xinhe says.
"The government can say to VIE is to open an eye, close a key point. VIE is impossible to be prohibited completely, this respect policy is tight, the on the other hand may be opened. The government is final it is a hope can appear on the market in China, also can be in the company that the United States appears on the market, let him appear on the market in China as far as possible. Let him appear on the market in China as far louis vuitton speedy as possible..
Home appears on the market the market needs to wait for perfect
Lin Xinhe looks, a lot of enterprises go to the United States to appear on the market, because domestic system is not perfect still,be.
Recently, chinese company finance affairs makes a holiday, chinese concept suffer controversy, fast thunder defers IPO, Beijing 4 degrees east the enterprise IPO process such as the store repeatedly suffocate suffocate. Fast thunder cancels IPO to plan to cause a mighty uproar inside course of study, the analysis points out, this means Chinese business abroad appear on the market be immersed in trough.
The sincere letter crisis that to enterprise of a few China the place that make a holiday causes, he thinks, "Chinese company also has a lot of maturity and honest company, this is time problem only, sincere letter can get resumptive slowly. Sincere letter gucci outlet can get resumptive slowly..
Summary weighs Lin Xinhe, the first, home appears on the market the system is not perfect still, system of stock, fund, audit, superintendency system need to be perfected further, and Nasidake, button makes all and long-term trustful base.
Next, need develops fine analyst team. Gao Cheng, Magenshidanli has a lot of outstanding analysts, photograph comparing, foreign analyst wants major than domestic analyst really a lot of, so need draws the talented person come over.
The 3rd, in foreign unprofitable the company also can appear on the market, if to high-tech company, not financing did not develop, the limitation that home appears on the market also makes a few companies cannot appear on the market in home.
Lin Xinhe expresses, it is before domestic system is not perfect, it is in that way mature that very much big company or hope are in the United States the market appears on the market. If be when the market is not perfect,the choice appears on the market in home, the company of very much disparate arrangement of ideas and level is met jumbly together, if give an issue individually, whole market is affected easily.
To prospective trend, lin Xinhe thinks, do poineering work board the distinct advantage that still has oneself, if the system is progressively perfect, as economic development, can be born more and more good gucci outlet companies, also can more and more companies choose to appear on the market in home, because do poineering work board it is close water tower after all.
(Article origin: Invest Chinese net author: Zhang Meimei is acting Song Yang)jingruibmq
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