The development of digital media is still early
"The growth in money faster than the actual needs slightly faster." Last weekend, the Gobi partner Xu Chen in an interview with reporters, said: "The risk investment companies, some of the current competition is over."
No later than the end of this month, this focus on investment in China's digital media start-ups in the field of venture capital (VC) companies, will conclude its two fund-raising, for the total of 150 million U.S. dollars. Earlier, the company from 2003 to 2004 the first phase of raising funds have invested in 11 enterprises, a total investment of about 60 million U.S. dollars.
money more and more investment in the network are less and less
More and more domestic inflow of hot money. In early July "issued by the second quarter of 2007 China Venture Capital research report" statistics, "the second quarter of 2007, the Chinese surge in business investment activity, a total of 12 venture capital institutions successfully raised 2.359 billion U.S. dollars, at the same time, 121 Enterprises have the financial support of venture capital, has disclosed amount of 694 million U.S. dollars, are much higher than the previous quarter, Muzi and investment limit. "
But some time, the seeds of the first round of financing and the proportion of the apparent decline, the Internet and other high-tech enterprises are the percentage decline in the second round of financing, traditional financing began warming up gradually.
A lot of wind for now reluctant to invest Internet companies, are reluctant to invest start-ups, the Gobi partner Chen Xu analysis, leading to the main causes of this phenomenon are three points: First, start-up business investment is relatively low, when after a large amount of funds , Voted to change the project will be more difficult to manage a corresponding increase in the second is the investment industry may now be more and more, many of the enterprises in traditional industries will also have a huge return of the three high-tech industry is too fierce competition .
Chen Xu said: "We are one of the main fund for digital media, digital media is still two main funds, but focus on the broader IT industry." In the investment limit, in the Gobi each item of the initial investment in about 1.5 million to 2 million U.S. dollars, and will then additional second round, probably 300 million, the third round will vote around 4 million yuan, to keep the shares in the company.
focus on digital media persist in the early style
The investment in the Gobi list of community Internet company CSDN, Ling Software, Long Extension interaction, the MTR media companies such as DMG clearly revealed the company's investment preferences. "Gobi digital media will be defined as telecommunications, media and technology integration among the new health communication and means of communication. Those who are new areas of digital media to promote the development of the industry to fill vacancies or to promote the integration of industry enterprises will become the Gobi Fund Investment Target. "Xu Chen believes that the user needs to provide the content and other related applications and services, the role of digital media will not be changed, and this is similar to traditional media, but digital media beyond the traditional media of the characteristics is that it has been Can become a kind of interactive media model, its meaning is a more exchanges between people of means and channels. Digital media is not to replace traditional media, the two will be in a very long time to come together exists, considerable room for development.
"Digital media in China is still in a relatively early stage, the general practitioners from the traditional media in turn, or simply from some technology companies to grow up. Such companies are in their infancy and early-stage." According to Xu Chen judgement , In addition to the funds of such companies, but also need a lot of other resources, in particular strategies.
For the previously rampant WEB2.0, Xu Chen that his is only a function, rather than a concept, not a technical, "and it is to combine the site's services and increase the user experience and improve user satisfaction, not for now With a 2.0 for the matter."
200 house election two three-point decision to invest or not
Xu Chen Ling investment plans to join the Gobi is the first single, and also plans Ling did not let his disappointment. This focus on the areas of GPS software technology company has now become the industry leader. This project was very difficult to do, with the full year, Xu Chen inspected the market, almost all of the relevant enterprises, fully more than 60.
In 2006, he received a total of over 1,000 business plans were selected after more than 200 entrepreneurs conducted 400 interviews, but ultimately only for the two projects. Xu Chen told reporters that an initial look at the project mainly depends on three things: the feasibility of industry, business model and the feasibility team. "The industry is too small, it is very difficult to support large companies, industry imagine themselves have enough room for profit models with the team to integrate, between people and things have sufficient support; addition, the market changes, patterns of change And deal with competition, teams have to rely on the ability to respond. "
Early vote with the wind more closely the relationship between some can be called the partnership. "The company structure, financial system, management system, we will give some suggestions." Chen Xu said that 12 investment fund companies, have to withdraw from the plane, not more than 20. Currently a total of nine people responsible for the investment to ensure that every person is responsible only for one or two projects, will not be too many and scattered energy. "Early in the wind for the time spent on business, in direct proportion to their success."
Generally speaking, the investment start-up enterprises, while short three to four years, while more than five to six years, will opt out. "Fast, then we will withdraw from the first half of next year one or two enterprises, there are two followed." Perhaps then, it will be the Gobi is the harvest season.
Blanchard appointed IMF chief economist 05/28/08
Photo gallery: How I spent my semester 05/21/08
Do not have an announcement temporarily