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Exclusive Interview With Guangzhi Fund Aiyu: Lock In The Unicorns Before The "Wind" Comes

2020/8/27 13:04:00 0

Exclusive Interview With Guangzhi Fund AiyuBefore Unicorn

"At present, China's overall economic dividend is moving from the Internet and mobile Internet to an intelligent economy, and the next decade will usher in a big explosion of intelligent economy. It is a prerequisite for a fund to get good returns by rushing ahead of the "wind" AI Yu told the 21st century economic report.

AI Yu holds two positions. As the head of Everbright holding new economy fund, AI Yu is also the founder and CEO of Tesla. Under his leadership, both teams have achieved good results.

It is understood that in the past four years, the new economy team of Everbright Holdings has completed investment in more than 70 projects, with an asset management scale of nearly 25 billion yuan. The team has captured nearly 20 unicorns and invested in representative cases such as Shangtang technology, the fourth paradigm, iqiyi, Netease cloud music, meituan review, daily Youxian and Xiaopeng automobile. At the same time, the team of Tesla has also experienced the entrepreneurial process from 0 to 1, and built teslon into a global leading intelligent scene service provider and the core platform of science and technology strategy under Everbright Holdings.

Now, these two teams from capital and industry are speeding up to gather on the track of intelligent economy. In July this year, Everbright Holdings, together with its science and technology core strategic platform Tesla, jointly initiated the establishment of Everbright Holdings intelligent new economy series Fund (referred to as Guangzhi Fund). The target scale of the fund is 10 billion yuan. At present, the first phase of the fund has been subscribed by institutional investors of RMB 7 billion yuan, which will be established in the form of RMB and US dollar dual currency funds.

Guangzhi fund is the upgraded version 2.0 of Everbright Holdings' new economy series funds, which also marks that the investment of Everbright Holdings will be advanced from new economic field to intelligent new economy field. Guangzhi Fund aims to further focus on the new infrastructure and intelligent economic circuit, especially the application and commercialization of core technologies in intelligent new economy such as big data, cloud computing, artificial intelligence, 5g communication technology, Internet of things, etc., to aggregate the upstream and downstream of the industrial chain around AI city.

Recently, in an exclusive interview with the 21st century economic report, Aiyu talked about the strategic significance of the Guangzhi fund, the story behind its establishment, and the future investment direction and investment logic.

Dual industry investors and investors

21st century: for Everbright Holdings and Tesla, what does the establishment of Guangzhi fund mean?

AI Yu: the establishment of Guangzhi fund, on the one hand, is in line with the trend of transferring the investment dividend from the Internet and mobile Internet to the intelligent economy; on the other hand, as the key fields of the intelligent economy, such as big data, artificial intelligence and 5g, are actually the key construction fields of new infrastructure, so this is also the state-owned enterprises under the new infrastructure wind.

At the same time, it is also an important practice of Everbright holding's "143" development strategy. Previously, Everbright Holdings put forward the "one four three" development strategy, in which the "four" is to expand and strengthen the leading enterprises around the investment in the four key industries of artificial intelligence internet of things, aircraft industry chain, real estate management and pension industry, so as to link the development of the main business of asset management. The establishment of Guangzhi fund is to further cultivate related fields and the upstream and downstream of the industrial chain around the leading enterprises that have been incubated and cultivated to build an ecosystem.

For Tesla, in the sina tide of intelligent economy, Tesla is about to usher in a golden cycle of rapid development. Choose to cooperate with Everbright Holdings to set up intelligent new economy fund at this time, on the one hand, it will further consolidate the position of industry leader through the way of industry + capital. On the other hand, it will also have a stronger agglomeration effect on the upstream and downstream participants of the industrial chain. At the same time, the identity of the industry's in-depth participant also enables Tesla to have a deeper knowledge reserve and industry judgment in the judgment of intelligent economy track and project, which is conducive to the fund to find excellent potential targets more quickly.

In addition, Tesla is currently building a global network of AI city. The establishment of optical intelligence fund will provide capital support for the deployment of AI city. At the same time, as the top designer of AI City, Tesla can deeply integrate the upstream and downstream of the industrial chain, consolidate the underlying technical architecture in various forms, and continuously expand the coverage of smart scene solutions.

21st century: under the background of capital cold winter, is it more difficult for Guangzhi fund to raise funds? Is the new pneumonia epidemic in the first half of this year a challenge to fund-raising?

AI Yu: at present, the intelligent new economy fund has subscribed 7 billion yuan. As the funder of the fund, LP's most fundamental appeal is that the fund can seek good investment projects with professional judgment and obtain the maximum investment return for them. In terms of promoting local economic growth, it is also hoped that local funds can promote the growth of some local industries.

The biggest advantage of our fund lies in its dual identity as an industry participant and an investor: as an industry deep participant, we have a profound understanding of the occurrence and development and future trend of the intelligent economy; as an investor, we can provide targeted business advice and trend forecast for enterprises from the industry perspective in addition to providing financial support and financial management suggestions In a series of layout of AI City, it helps many enterprises to connect with local governments and help intelligent economy enterprises realize national development. The above two points are very important for us to attract good projects and invest in good projects, and fundamentally meet the expectations of LP for us.

Due to the early start of the fund-raising, it seems that it is not affected by the new crown pneumonia. However, the emergence of new crown pneumonia highlights the urgent needs of modern society for intelligent city infrastructure and independent decision-making when public health events break out. This also reinforces our determination and confidence to invest in AI City, which is built with aiot technology.

Investment focuses on the technical content and commercial liquidity of the project

21st century: what are the specific segments of the investment of optical intelligence fund, and what are the main considerations behind it?

Aiyu: Guangzhi foundation focuses on the AI city field built by aiot technology, specifically focusing on the enterprises in a series of subdivided fields including software, hardware, security, Internet of things, unmanned driving, robot and so on.

The reason why we made such a decision is based on our judgment on the current situation

First of all, China's overall economic dividend is moving from the Internet and mobile Internet as the center to an intelligent economy, and the next decade will usher in a big explosion of the intelligent economy. The development of the new generation of intelligent economy enterprises will no longer rely on demographic dividend, but will complete their own development and growth through globalization. In the future, a number of 100 billion level platform companies will be born in the smart economy track. It is the premise for a fund to get good returns to comply with the development trend of the times, to lay out in advance before the "wind" comes, and to lock in the unicorn in the field of intelligent economy.

Secondly, the development of intelligent economy has its own law. Prior to this, Everbright Holdings new economy fund has arranged a number of low-level technology projects of intelligent economy in advance in the early development of intelligent economy, such as Shangtang technology, Qianxin, etc. Since then, we have invested in a number of AI + scene + data projects, such as meituan review, iqiyi, etc.

Next, the smart new economy circuit will usher in a blowout of applications and solutions around 5g, AI, big data, Internet of things and other technologies. Five years from now, 30% of China's top 20 technology companies by market value will come from these fields. With AI City, we will occupy the "commanding height" of intelligent ecology from the perspective of city level platform, adhere to the pattern view of top-level designers, evaluate and judge the value of various branch links and horizontal related industries, and select high-quality objects from them.

Third, as the fastest growing platform company in the field of intelligent economy in China, Tesla has shown us the potential strength and high growth of such enterprises. As a global leader in the intelligent economy, China has a good foundation from technology research and development to commercialization scenarios, even policy promotion and the number and scale of enterprises. Deep cultivation in this field will surely bring rich returns.

21st century: what criteria will the team follow in selecting and judging specific projects?

AI Yu: we pay more attention to the technical content and commercial liquidity of the project itself, which will directly determine its future growth space. Chongqing Everbright artificial intelligence industrial base is the first project of this fund. At present, the related industries around this project and the upstream and downstream of the industrial chain will be our important investment positions.

21st century: for Tesla, how to balance external investment and internal innovation in the process of participating in the management of Guangzhi fund?

They are not complementary to each other. In this way, citys will participate in the in-depth development of the city's AI and smart industries, and participate in the comprehensive development of the city's AI and other industries through the deep cooperation of the city's AI and smart industries.

 

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