Yan Yan is talking about the investment, such as the NVC project evaluation

"What is the one thing that you regret most of the projects you have voted for? "

Nvc. "In the face of the camera, Yan Yan made no secret.

If time can go back to ten years ago, Yan and Wu Changjiang have no intersection, will not have the regret, but if not history, which lasted for ten years of war, a China business history "VC and entrepreneurs between the" anti teaching objective.

The strong bullying or from professional paranoia?

In 2006, Yan NVC to invest $22 million, accounting for the proportion of shares is 35.71%. In the company's board of directors, Wu Changjiang control seat is two seats, Yan Yan seats three. In order to compete for control of the company, the two began the war. Wu Changjiang said the capital is the barbarians at the door; Yan Yan accused Wu Changjiang regardless of the bottom line of business, private take public funds gambling.

Ten years later, at the end of 2016, Wu Changjiang was sentenced to fixed-term imprisonment of up to 14 years in prison for embezzlement and embezzlement. In March 15, 2017, Wu Changjiang before the repayment of debt, will hold 130 million shares of equity auction elec-tech. The battle for control of the closure of nvc.

After this battle, Yan Yan's strength seems to be torn off label". What is the strong? In the entrepreneur seems to be sharp, aggressive, is to grab profits. For investors, is a kind of professional self-confidence and perseverance. Not strong, may mean that the entrepreneur does not mean that shilly-shally was it when you have a good project.

To Yan clear and unruly, strong will not bring trouble to the estimation of him, but did produce some negative effects. However, as the other side of the coin, is also a strong achievement of yan. Yan Yan voted in the project, more than 90% of the leading investment or single vote, do not follow the trend, do not get together, have their own rational judgment.

2003, a grand dilemma. The Internet bubble burst, a lot of people are afraid to throw a grand, only Yanli Yan conventions for the big transfusion $40 million. From investment to exit only 20 months, to get a return of 16 times, this investment has become one of the most successful projects in the history of venture capital in china.

Yan Yan often surprising remarks, such as "now, China entrepreneurial companies far more than the real estate appreciation appreciation! What is the root cause of this phenomenon? The three key words: money, people stupid, policy bias. Successful entrepreneurs are mostly in the age of 30-38 years old, after 90 just out of school, how much more likely to have a higher probability of success than experienced people, and even how to pay taxes do not know. "

For 90 entrepreneurs no advantage, saying, Sa Beining and Yan said, I'm afraid to offend 90 after them, followed by Yan Yan answer, Who cares?"

Professional, rational achievements venture capitalist myth

To determine whether a successful investor, mainly to see two indicators, one is IR, that is, the average annual rate of return, and the other is CashReturn, is a fund can eventually recover how much.

Investment grand, to $40 million in less than two years, to $560 million exit. Investment perfect space-time, $8 million to enter, 10 months listed, exit returns more than 80 times. CNOOC, china...... A series of annual yield of nearly one hundred percent, almost perfect investment record, so Yan Yan won "Chinese VC father" reputation.

Yan Yan investment, do not believe feelings, do not chase tuyere.

The infiltration of the venture capital industry for many years, the business rule and entrepreneurial cruel already familiar in the heart. Do not look at the business model, only the feelings of investment projects in his opinion is tantamount to a piece of ridiculous.

"Occupation as investors, is a very important point is the shield in the investment decision-making feelings"; "there are two kinds of people in the world, a person can be a friend, a person can make partner, only few people can have"; "this is a typical result oriented industry, make money is king". He keep on industry awake, and business life for him, has always been quite distinct from each other.

Tuyere, in the venture capital circle, is tantamount to fly heaven shortcut. Yan Yan was not at all in the face of temptation. Even in the group purchase hot, everyone wants a cup of soup, Saif coldly. Electricity supplier struck, they only voted two companies. Some people take investment than gambling, Yan Yan think ridiculous, do investment must be absolutely rational, a program to go, need a lot of thinking, rational analysis. "

Investment community chiefs to evaluate him, Yan Yan is one of my most admired heavyweight investors. I admire him not only because of his excellent professional ability, the success of the impressive performance, mainly because he is modest for attitude, profound ideological level and sense of social responsibility and business leaders on the river harbor. "

Know the other, know that he has self-cultivation, regulating the family, governing the world's feelings. I do not know the other, he is regarded as the bloodthirsty barbarians outside". As for how others see him, he often and don't agree with my view of "investment, will pay a heavy price. "

From the income of 27 Fen cents a year to billions of shots frequently

1957, Yan Yan was born in Anhui. In 1975, he jumped the queue in Qianshan county. When busy, will be busy from five in the morning to nine at night, physical exertion is second, think of the future, Yan Yan feels a twinge of fear, this fear and 27 Fen a year income is, but from in this strange place for a lifetime, the resulting sense of no control the future.

In 1977, kept reading