On the afternoon of September 17, Wu, managing director of Jinshajiang Venture Capital Fund, hurried back to his office in Block A of Tsinghua University Science and Technology Pioneer Park after attending the investment meeting and was interviewed by our reporter. Through the long passage of the office of more than 700 square meters in Jinsha River, and into the office full of business plans, Wu opened a Coca-Cola and told our reporter his story with Jinsha River. "Our investment hopes to get a return of 10 to 30 times, and an excellent and first-class early investment fund must achieve such a return." Wu said airily. Wu had more than ten years of investment experience before he founded Jinsha River with another partner, Lin. The Jinsha River is funded by the world's leading university funds, institutional investors and strategic partners, and has been over-raised, attracting two partners, Ding Jian and Pan Xiaofeng. "Now is the best time for the establishment and development of early investment funds, otherwise I won't do it. I hope Jinsha River will become the first world-class fund in China. Doing this is not a year or two, but five years and ten years of hard work, or longer. " Wu frankly expressed his expectations for the Jinsha River.

"In fact, Pan Xiaofeng and I began to plan to prepare a venture capital fund with our own local and international capital in 2000." Wu Dui said: "This history is very interesting. 1988 joined Nortel Network as the vice president of Nortel Network Headquarters. /kloc-0 returned to China in 1993 and began to invest in semiconductors. 1995, Pan Xiaofeng joins Nortel network. Pan Xiaofeng and I have known each other and cooperated for more than ten years from 1995. During the period from Nortel Network (China) 1995 to 2000, I experienced a lot of ups and downs, made a lot of investments, participated in the management of Nortel enterprises and made mergers and acquisitions, so I was very familiar with domestic enterprises. If you ask the truly low-key industry leaders in the domestic industry, our reputation is still very good. "

After working in Nortel for 1 1 years, Wu returned to the campus in 2000 and studied at MIT for one year, with the simple purpose of setting up his own fund, even though he had made a lot of investments for Nortel in China.

Why do you want to be a fund? Why do you want to do it earlier? For Wu, it was many years ago.

Wu's motivation for financing in China is that early venture capital is very important in the process of domestic economic transformation and economic growth. Because the efforts of the government, private capital and enterprises themselves are only some key conditions. Although there are many domestic funds coming in, there are few real early-stage funds, and even fewer funds willing to invest in high-risk projects. High-tech enterprises in China need funds to cultivate them.

The fund planned by Wu of MIT is not called Jinsha River, but China Emerging Industry Fund. Similarly, the initial investment concept of China New Industry Fund is the same as that of Jinsha River, and the attention to employment committee, investment mode, areas of concern, how to evaluate technology, polymer electronic materials and other details is exactly the same.

On June 5438+ 10, 2004, Wu decided on the new name of the fund-Jinsha River, and together with Lin, he set up Jinsha River from scratch. The two decided on the Jinsha River strategy in Silicon Valley, decided to do it as early as possible, and won the opportunity to cooperate with Mayfield, the oldest venture capital fund in Silicon Valley. "Since we want to do our best, we should learn from experienced people and rely on mayfield's experience to help us. Because China has no history of venture capital, this is a blank industry. "

Unlike many people who think that there are no high-tech enterprises in China, Wu's positive argument is that China has technology, which is the basic starting point for his founding of Jinsha River. Therefore, Wu's goal is to become a world-class high-tech enterprise in the field of semiconductor and wireless Internet in China, and make a lot of money in this process, and also to cultivate Jinsha River as the first international investment fund in China in this process. "We all feel that if China has such a private equity fund and cooperates with private entrepreneurs and domestic entrepreneurial teams, it will definitely make a lot of money." Wu has been rolling in the domestic industry for more than ten years, and he is very aware of the situation of the domestic industry and the opportunities in the domestic market. Based on this judgment, he started his own fund trip.