Source | Investment community (official account ID: pedaily2012)
Author | Yang Jiyun
IDG Capital's partner team is about to usher in new blood.
After verification by the investment community, Yu Jin, President of Accenture Strategic Greater China, will leave Accenture recently to join IDG Capital as a partner in the M&A business.
According to informed sources, the addition of Yu Jin is expected to further enhance IDG Capital's full-stage investment layout capabilities, especially to provide assistance for the latter's M&A investment business based on industrial logic.
2020 is the 28th year that IDG Capital has entered China. After experiencing the ups and downs of China's venture capital industry, the VC giant has been maintaining its vitality by absorbing new blood from outside and cultivating talents within the organization. The investment community has learned that two post-80s investors in IDG's early investment team were just promoted to partners last year.
JoinED IDG Capital "Queen of Strategic Consulting" to leave Accenture
After more than 20 years of consulting career, Yu Jin, who was known as the "Queen of Strategic Consulting" in the circle, finally chose IDG Capital.
According to the data, Yu Jin has a very beautiful resume. Prior to joining Accenture as President of Greater China in 2016, she spent nearly 16 years at McKinsey & Company, where she was the former First Female Global Managing Partner and Head of McKinsey's Beijing Firm in Greater China, and the first female Managing Director of McKinsey & Company China.
In his more than 20 years of strategic consulting career, Yu Jin has helped many leading Chinese companies and global multinational companies in many fields plan large-scale strategic transformations, and design the organizational and governance structures that are supporting them, talent strategy and leadership development, and capacity building to cope with the disruptive competition brought about by technological developments and customers in the digital age, and reshape the new industrial landscape.
When I left McKinsey to join Accenture that year, Yu Jin said: "Joining Accenture will give me more opportunities to understand the development of the technology ecosystem and better help customers think about how technology is reshaping business in the era of the digital economy." ”
Looking back over the past 20 years, Yu Jin's service areas include high-end manufacturing, high-tech and Internet, consumer goods and retail, energy and chemicals, financial services, etc. All this laid the foundation for her to enter the investment circle.
According to the analysis of the investment community by a person familiar with the venture capital circle, IDG Capital has been focusing on investment in the field of "hard technology", and its strong "technology gene" may be an important reason for attracting the queen of strategic consulting to join.
After joining IDG, Yu Jin is expected to help select high-quality investment targets and explore corporate value based on his ability to sort out the upstream and downstream industrial chains and in-depth research on the industry based on his expertise; on the other hand, he can also give full play to the advantages of his strategy and management experts to provide suggestions and substantive help for the transformation and upgrading of investment targets, and enhance corporate value by empowering enterprises.
This is highly in line with IDG Capital's value investment positioning of "always attaching importance to providing strategic management for invested enterprises and assisting enterprises to achieve industrial transformation and upgrading".
Full-stage investment layout IDG advance card slot hard technology field
The investment community has verified and confirmed that Yu Jin joined IDG Capital as a partner in the M&A business, which has an impact on IDG Capital's investment layout, which is worthy of attention.
As we all know, a sudden epidemic in 2020 has hit many enterprises hard. Venture capital circles are also bucking the trend: companies facing difficulties are eager to find opportunities to survive; companies with advantages also want to expand their market share and expand their business territory. It is not difficult to judge that after the epidemic, the investment layout of the whole industry seems to have "come to fruition".
IDG Capital began to form an M&A team in 2014. In just a few years, the team has led the acquisition of IDG Group's global investment business, assisted Mulinsen in cross-border acquisition of OSRAM's global lighting business, Land vance, strategic investment in industrial Fulian and other mergers and acquisitions and integration projects.
The completion of these transactions marks that IDG Capital has formed a full-stage layout covering the start-up stage, growth stage, mergers and acquisitions and restructuring, and holding diversified equity investment platform, creating a huge investment map.
In the early years, IDG Capital realized that investment opportunities have shifted from business model innovation to core technology innovation, and that the innovation of many business models and the evolution of business ecosystems in the future will be driven by technological development. In the main areas that are well known as semiconductors, industrial Internet, intelligent manufacturing, etc., the vision and accumulation of IDG Capital far exceed most institutions.
For example, as early as 10 years ago, IDG Capital began to lay out the semiconductor field in the global market, and has invested in Zhongwei Semiconductor, Amlogic Semiconductor, Aixu Technology, etc. Especially after the investment, IDG Capital is good at using its global resources and management experience to provide industrial integration capabilities for investment targets, laying a first-mover advantage that is difficult for others to achieve in the short term.
IDG Capital once judged that China has a great chance to give birth to a number of world-class companies in the fields of "artificial intelligence, intelligent travel, enterprise services, genetic medical treatment, and advanced manufacturing". Looking at the investment territory of IDG Capital, it is not difficult to find SenseTime, Xiaoma Zhixing, Qianxin, Boya Jiyin, Tiannai Technology, which are well-known enterprises in the above fields.
Niu Kuiguang, a partner at IDG Capital, once revealed that IDG Capital has completed the card slots in advance for these tracks through years of research and layout. He told the investment community that in the next five to ten years, thanks to the sound digital infrastructure and the world's largest and best user-side digital environment, it will be almost inevitable that various industries will grow competitive digital applications on a global scale.
How will the 28-year-old IDG Capital continue to run?
2020 is the 28th year that IDG Capital has entered China.
As the earliest foreign investment institution to enter the Chinese market, IDG Capital has continuously exported many talents to the VC/PE circle, but it is not difficult to find that it has also been maintaining the vitality of the team by absorbing foreign fresh blood and organizing internal talent training.
In recent years, senior executives such as Gao Mei, former president of Wall Street hedge fund Fore Research & Management, former Chairman of Mango TV, and Cui Guangfu, former CEO of eLong, have joined IDG Capital. Their joining has allowed the possibilities of investment to expand again.
It can be said that the addition of Gaomei has helped IDG Capital expand cross-border investment resources; after Nie Mei joined, it further enhanced its investment performance in the field of culture and entertainment for IDG; and after Cui Guangfu joined the company, it contributed to the investment of IDG Capital's PE fund in Meituan, further consolidating its PE investment status.
In addition to the new, IDG is also cultivating young forces internally. The investment community has exclusively learned that two post-80s investors in IDG's early investment team, Tong Chen and Wang Xin, were just promoted to partners last year. "They're all starting from the most junior investment managers and getting from the beginning to the present." Insiders revealed. It is reported that Tong Chen and Wang Xin have had good investment performance in cultural entertainment and online education respectively. In both areas, IDG Capital has successively invested in companies such as Bilibili, iQiyi, Ape Tutoring, English Fluency, Spark Thinking, Light Education, and Three Lessons.
When post-80s investors gradually became the "waist force" of the venture capital circle, IDG Capital also provided more promotion channels for the younger generation.
Today, IDG Capital has accumulated more than US$20 billion in management funds, invested in more than 900 projects, and 50% of domestic unicorn companies have received early investment from IDG Capital. Today, with the addition of new blood and the rise of young teams, the nearly 30-year-old VC giant continues to gallop on the front line of venture capital in China.