Managing director of Yunfeng Fund: AI project is too expensive to be seen.


Managing director of Yunfeng Fund: AI project is too expensive to be seen.

Sun Mingyu, a journalist of the surging news

"The general feeling this year is that AI is too expensive for you to see."  

In July 11th, Yun Feng, managing director of the Shanghai fund, said at the "soft incubator 10th anniversary Science Festival" held in Pudong Software Park, Shanghai.

At the beginning of 2010, Yunfeng fund was named with the name of Ma Yun, the chairman of the Alibaba board and the name of Yu Feng, the founder of the media, and co sponsored by a number of successful entrepreneurs and entrepreneurs.

In the first half of 2018, the voice of the equity investment industry about "fund-raising difficulties" was endless.

The statistics of the Institute showed that the size and number of funds raised in the first quarter of China's VC/PE market fell sharply in the first quarter of 2018, down 74.85% from a year on year, and a 54.82% decline in the number of year on year.

Zhu Yikai introduced that Yunfeng fund, mainly in the middle and late period of investment, set up two parallel funds of US dollar and RMB, of which the investment starting point of US dollar fund was $30 million. In his view, the tight market capital situation in 2018 is very obvious, the pace of investment slowed down the possibility, "will not have a company to reduce the valuation do not know, to tell the truth is also very difficult to drop."

But Zhu Yikai also said that despite the sluggish market, a good project is still expensive. The style of Yunfeng's fund is to respect the price of the market, but it can wait and hope to find a reasonable project.  

Talking about the exit of the project, Zhu Yikai said that the Yunfeng fund cycle is longer, the RMB and the dollar fund are all 12 years, the withdrawal of the dollar fund is relatively better. It is due to the long duration of the fund, so in the choice of the target of investment, it is not the standard of enterprise IPO, although the requirements of qualified IPO are not urgent.  

"If you want to pick the best and good companies in the market, whether they are listed or M & A, the space for capital operation is not a problem." Zhu Yikai said, especially the RMB LP are enterprises and listed companies, so they are not worried about the exit.  

He gave examples, Yunfeng fund in the last few years to invest in a garment enterprise, cash flow is very good, four times a year, dividends probably already accounted for the principal 60%-70%, still continued bonus. For such enterprises, whether IPO or not, the returns have been considerable.  

"Of course, good companies are encouraged to do IPO." He added. Zhu Yikai disclosed that seven cattle cloud is preparing for IPO. In August 28, 2017, seven Niu Yun announced the completion of a new round of 1 billion yuan financing. The current round of financing was led by Alibaba group and Yunfeng fund.

In June 21st, the media quoted brokers as saying that a new round of financing is under way today, valued at $35 billion, and the Ali department's cloud front fund is in touch with the private equity giant. The headlines were denied today.

In response, Zhu Yikai responded to surging news reporters, saying, "I have not heard of this."


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