Zhejiang University has started lp again.
The investment community has learned that the first domestic hard science and technology innovation fund jointly initiated by provinces, municipalities and universities was officially established in Hangzhou, Zhejiang. Among them, LPs include Zhejiang University Youchuang and Zhejiang University Holdings, a capital platform under Zhejiang University Holding Group. This fund will focus on investing in major innovative projects and innovative enterprises that have obvious driving effects on China's economic and social development.
It is rare for a university to be so deeply involved in the cause of science and technology innovation.
Behind this, it is inseparable from a large number of rich and affectionate alumni - from Duan Yongping and Shi Yuzhu to Chen Mingyong and Huang Zheng, a group of Zhejiang University students who have long been rich and free have actively given back to their alma mater and supported the most "trench" Zhejiang University Education Foundation in the country.
Just now, Zhejiang University jointly established a fund
Specialized in hard technology
A rare venture capital fund surfaced.
The investment community has learned that recently, the first domestic hard science and technology innovation fund jointly initiated by provinces, municipalities and universities was officially established in Hangzhou, Zhejiang. The fund will bring together the scientific and technological resources of Zhejiang Province, Hangzhou City and Zhejiang University, focus on the "high-tech, hard technology, black technology" industry, and lay out the "card neck" technology project.
This hard science and technology science and technology innovation fund is jointly managed by Jiuzhi Capital, Zhejiang University Youchuang and Hangshi Group, and jointly funded and established by Zhejiang Financial Holdings, Hangshi Group, Zhejiang University Holdings and Jiuzhi Capital, focusing on investing in major innovative projects and innovative enterprises that have obvious driving effects on China's economic and social development.
Among them, key projects include the core immersion system project of the domestic immersion lithography machine that ranks first in the "card neck" technology and ensures the breakthrough of China's "core"; the only domestic aircraft digital assembly project that breaks the international monopoly and has been applied to key models in China; the industrial software project that breaks through the international blockade and leads the innovative design of heavy equipment (spacecraft, nuclear industry, etc.) of major countries.
JZ Capital, one of the initiators of the fund, believes that with the advancement of the strategy of rejuvenating the country through science and technology, the scientific and technological strength of universities represented by Zhejiang University and Tsinghua University is changing with each passing day, and a number of high-tech listed companies such as Zhongkong Technology and Weier Shares have emerged. Professor entrepreneurship has become the trend of this era, colleges and universities will become one of the birthplaces of the future of scientific and technological innovation, and more high-quality high-tech enterprises of colleges and universities will successively land on the capital market in the future.
Located on the banks of Xizi Lake, Zhejiang University has experienced centuries of vicissitudes. On May 21, 1897, qiushi college, the predecessor of Zhejiang University, was officially established in Hangzhou. Later, the school changed its name several times, and even closed down for a time, going through "Zhejiang Qiushi University Hall" (1901), "Zhejiang University Hall" (1902), "Zhejiang Higher School" (1904), "Zhejiang Higher School" (1912).
After the founding of the People's Republic of China, some of the faculties and departments of Zhejiang University in Hangzhou were re-established and developed into Zhejiang Normal University, Zhejiang Agricultural College and Zhejiang Medical College respectively. In 1953, the school began to build a new campus in Laoheshan on the northwest side of the West Lake (after the merger of the four schools, it became the Yuquan Campus of Zhejiang University), and at the end of 1956, the construction of the new campus was completed. In 1961, Hangzhou Institute of Technology was merged into Zhejiang University.
In 1998, the four schools of the former Zhejiang University, Hangzhou University, Zhejiang Agricultural University and Zhejiang Medical University merged to form the new Zhejiang University. At present, Zhejiang University has 7 campuses in Zijingang, Yuquan, Xixi, Huajiachi, Zhijiang, Zhoushan and Haining, becoming the leading famous university in China. In the past two decades, batch after batch of Zhejiang University students have stepped out of the campus and become the mainstay of their respective fields.
From Duan Yongping to Huang Zheng
Those Zhejiang University alumni who are active in the venture capital circle
In Zhejiang, entrepreneurs from Zhejiang University, Zhejiang Business, Ali and Returnees are known as the "New Fourth Army" of entrepreneurship.
Combing through the long list of business alumni of Zhejiang University, Duan Yongping is undoubtedly one of the people who talk about it. In 1977, Duan Yongping became the first candidate of the national resumption of the college entrance examination, he was successfully admitted to the radio engineering major of Zhejiang University, and the later story is known to everyone, and he single-handedly created two well-known brands of Xiaobawang and BBK.
Later, Duan Yongping retired from the jianghu and turned to the investment community. At the end of 2001, when The Chinese stocks were in turmoil, he bought NetEase stocks for about $1. The investment paid off more than 100 times in just a few years, giving him a momentary rise to fame. In addition, Duan Yongping also bought and held shares in Apple and Moutai for a long time. The most worth mentioning is that he was also called "life mentor" by Huang Zheng, the founder of Pinduoduo, and thus became one of the angel investors of Pinduoduo.
Interestingly, Huang Zheng is also Duan Yongping's Zhejiang master disciple. In 1998, Huang Zheng, with excellent grades, was directly sent to Zhu Kezhen College of Zhejiang University to study computer science. In 2007, Huang Zheng left Google and began to start his own business, which led to the story of Pinduoduo. Today, Pinduoduo has become one of the e-commerce giants comparable to Taobao and JD.com, with the latest market value of 110 billion US dollars (about 700 billion yuan), and Huang Zheng is proud of the world.
There are many more Founders of zhejiang university who are on the rise. In June this year, ByteDance rarely voted for a post-70s female professor at Zhejiang University, Xiong Rong. Jiazhi Technology, an intelligent logistics robot enterprise founded by her, announced the completion of a 100 million yuan B+ round of financing, led by Xianghe Capital, followed by Shenzhen Venture Capital, and the old shareholders ByteDance and Lenovo Venture Capital continued to invest. As early as 2016, Xiong Rong led several students to found Jiazhi Technology, and several core personnel of the company were her students.
In May this year, Feibu Technology, which won hundreds of millions of yuan of B round financing, gathered a number of well-known VC/PE institutions including Dachen Caizhi, Deyi Capital, Zhejiang Dayouchuang, China Merchants Zhiyuan and so on. The young company, which has only been established for four years, is also founded by a professor at Zhejiang University, He Xiaofei. In his early years, he was sent to Zhejiang University with excellent results in mathematics competitions, and then went to the United States for further study, becoming the youngest professor at Zhejiang University at the age of 29.
Of course, this is just the tip of the iceberg for Zhejiang university entrepreneurs. Such as Giant Network Shi Yuzhu, oppo Chen Mingyong, Hikvision Chen Zongnian, Tongce Medical Lv Jianming, OnePlus Mobile Phone Liu Zuohu, Beiyin Mei Xie Hong, FlushIng Yizheng, Juhua Technology Ding Minhua, Cloud Depth Zhu Qiuguo, To See Technology Luo Feng..... All are students from Zhejiang University. Also looking at the domestic investment community, there is no shortage of Zhejiang people.
Among them, the most well-known in the circle is Zhu Min, chairman of Cybernaut Investment Group, who is more than 70 years old and is still active in the front line of venture capital. Zhu Min has a deep relationship with Zhejiang University. In 1977, the national college entrance examination was resumed, and Zhu Min, whose son was 7 years old, was admitted to Zhejiang University's tractor major. Later, he was admitted to the Department of Management of Zhejiang University to read a master's degree. Moreover, Zhu Min was also one of the first batch of public students sent by Zhejiang University to Stanford University to pursue a doctorate in engineering economics.
Zhu Min's entrepreneurial journey has also begun. In 1991, he founded Future Labs, and five years later, he founded WebEx. After the company went public, he sold WebEx to Cisco for $3.2 billion, and he became famous. In 2006, at the age of 58, Zhu Min returned from the United States and founded Cybernaut Investment. Over the past ten years, the company has accumulated 200 billion yuan in managed funds, and has successively invested in more than 200 enterprises such as Chint Solar, Pig Eight Commandment Network, WeDoctor Group, Xinwei Communications, Yinfei Storage, etc., the most beautiful of which is the angel round investment in zoom, creating a super high return.
There is also a representative of the Shaozhuang faction, Wang Huai, the founder of Linear Capital, who graduated from Zhejiang University in his early years, later studied in the United States, and joined Facebook as an engineer after graduation. In September 2014, Wang Huai and Zhang Chuan officially founded Linear Capital, focusing on early-stage investment, and over the years became angel investors in companies such as Bao Xiao locket, Cool Jiale, Horizon Robot, and Shence Data.
Zhejiang University, this is a venture capital corps that should not be underestimated - Yu Xinhua, partner of idg Capital, Zhu Jianhuan, partner of idg Capital, Huang Yan, managing partner of CDH Investment Innovation and Growth Fund, Chen Yuemeng, chairman of Zhejiang Venture Capital, Huang Yungang, partner of Source Code Capital, Chen Jun, chairman of Zijingang Capital, Zhang Jie, partner of Huadan Angel Investment, Wang Qicheng, founder of Handing Yuyou Capital... The alumni lineup has always been low-key, but the strength is not bad.
Passing on the torch
They supported the Zhejiang University Education Foundation
Thinking of the source of drinking water, it is the alumni of Zhejiang University who actively give back to their alma mater, which has created the strong Zhejiang University Education Foundation.
At the beginning of this year, a donation by Huang Zheng of Pinduoduo made the Zhejiang University Education Foundation popular. In March 2021, Zhejiang University Education Foundation and Fanxing Public Welfare Fund signed a donation agreement to establish the "Xingxing Science Fund of Shanghai Advanced Research Institute of Zhejiang University" to promote Zhejiang University to carry out basic research and cutting-edge exploration in the intersection of biology, medical treatment, agriculture, food and other fields.
The donor Fanxing Public Welfare Fund was initiated by Huang Zheng. As the first grant, the Stars Public Welfare Fund will donate US$100 million to the Zhejiang University Education Foundation in the next 3-5 years. Not long ago, a new batch of support projects of the Star Science Foundation has been released, focusing on the three directions of "computing + biomedicine", "advanced computing" and "computing + agri-food", a total of 9 projects have been successfully selected.
Open the official website of the Zhejiang University Education Foundation, and several funds related to alumni Duan Yongping appear on the homepage: including Yongping Study Abroad Loan, Yongping Self-support Loan, Yongping Scholarship and So on. As early as 2006, Duan Yongping donated 30 million US dollars to his alma mater, which became the largest donation in the history of Chinese mainland universities at that time; in 2011, Duan Yongping and his wife Liu Xin set up the "Zhejiang University Xinping Scholarship Teaching Fund" at their alma mater.
As early as 2017, at the donation site of the 120th anniversary of Zhejiang University, alumni Shi Yuzhu Giant Group donated 50 million yuan to the Zhejiang University Education Foundation to support the construction of a new building in the School of Mathematical Sciences of Zhejiang University.
Also in that year, the "Zhejiang University Alumni Association Z20 Fund" was officially established, with an initial scale of 1 billion yuan. This fund is a public welfare project initiated and promoted by Zhu Min and 20 well-known entrepreneurs who have studied at Zhejiang University, which is used for zhejiang university students' entrepreneurship, scholarships and grants, student activities and other projects... The list goes on and on.
University endowments have always been one of the most important LPs in the venture capital circle, and China's university funds were generally established late, while Zhejiang University was an early wave.
In March 1994, in order to commemorate the outstanding deeds of the old president Zhu Kezhen, Zhejiang University joined hands with all sectors of society to establish the "Zhejiang University Zhu Kezhen Education Foundation", which is the predecessor of the Zhejiang University Education Foundation. In November 2004, according to the Regulations on the Administration of Foundations promulgated and implemented by the State Council, the "Zhejiang University Zhu Kezhen Education Foundation" was re-registered and renamed "Zhejiang University Education Development Foundation", and two years later it was renamed "Zhejiang University Education Foundation".
According to the 2020 annual work report of zhejiang university education foundation, as of the end of last year, its total assets have exceeded 4.2 billion. According to incomplete statistics, the Zhejiang University Education Foundation has invested in a number of GP: including CDH Investment, Cybernaut Investment, Dingyi Investment and so on.
In addition, the Zhejiang University Education Foundation also began to explore direct investment. The most recent investment came from the end of August, when the shareholders of "Bo Hui Weikang", which is engaged in the research and development and production of high-end medical devices, were changed, and the new shareholder Zhejiang University Education Foundation was added. Not long ago, Zhejiang Panshi subsidiary "Panxing Digital Wisdom" was invested in the Jiangsu Provincial Government Investment Fund And Zhejiang University Education Fund, with a valuation of 5 billion.
Pass on the torch and feel sorry for each other. Many Zhejiang University students will remember the Zhejiang University song written by Mr. Ma Yifu, and the "Seeking Truth and Innovation" contained in the words is the school motto of Zhejiang University. Nowadays, when a batch of alumni have taken root in all walks of life, the "Zhejiang University Department" has also grown stronger and stronger in China's venture capital industry. Zhejiang University, which has gone through 124 years, has been passed down from generation to generation, and peach and plum are all over the world.