Wen | Lin Shan

While capital is still studying how to draw money from the pocket after , it has already begun to control capital after .

At the end of July, the financing news of online celebrity digital marketing company Wufeng Technology caught our attention. In this company's newly completed A+ round of financing, Betta only got the status of follow-up investment, but it was led by an unknown institution: Egg Raising Unlimited Venture Capital. What is even more amazing is that Li Dongze and Dai Junming, the founders of Egg Collection, are two "post- s".

The complete structure of this new institution shows that the two teenagers are not playing with tickets. At present, the fund management scale of egg raising is 1 million yuan, and this figure will be expanded to about 1 billion yuan in the next two years. Their vision is to build a "next generation cultural consumption universe" through investment, and the investment logic is to look for projects that take on different responsibilities according to the map. For example, Wufeng is the entrance of young traffic, and the national project they are working on is the origin of their own IP.

when I met them in Shanghai, they didn't wear suits and ties like investors, but wore T-shirts like young people everywhere on the street, and they weren't even used to business routines such as shaking hands and greeting. However, it seems that they are not going to imitate their predecessors, but are very concerned about preserving their post- characteristics. "Because egg fundraising invests in young entrepreneurs and projects that satisfy young people's lifestyles, the image after is an advantage rather than a disadvantage." They said to 36Kr.

In the project "No Front", they exposed a kind of "next generation investment" which is quite different from the tradition.

they didn't go through the traditional FA channel pitch to Wufeng. As early as 218, Li Dongze and Dai Junming met the founder Wu Difei when they used the "Hangxing" App to meet experts. At that time, they met with Lei Xiwen, a former managing partner and deputy chief operating officer of King & Wood Law Firm. Under the introduction of Lei Xiwen, they consciously met a group of young people who were interested in starting a business, and Wu Difei was one of them. Later, because he was optimistic about this group of young people, Lei Xiwen joined Egg Raising and Wufeng Technology, becoming partners and CFO respectively.

this logic of "making friends with entrepreneurs first" has been maintained to this day. In addition to similar platform channels, college students' business incubator is also an important channel to reach entrepreneurs. At present, Egg Fund has established entrepreneurial alliances with several universities in Shanghai and Zhejiang, including Fudan University, and regularly communicates with entrepreneurs in incubators and holds activities.

In the eyes of some investors, a young man who wants to start a business is still a long way from a real entrepreneur, but in the eyes of Li Dongze and Dai Junming, starting a business is not "premature" because of his age. "We can see from ourselves that the generation after has matured earlier, everything will be ahead of schedule, and entrepreneurship is the same." Li Dongze said. "As long as there are entrepreneurial genes, even if they fail, they will still try. Such people will succeed sooner or later." And egg raising is about finding opportunities to enter in the process of entrepreneurs' growth.

With this relationship as the starting point, Egg Raising and No Front * * * grow together. Before Wu Difei started his business, Li Dongze and Dai Junming kept in touch with Wu Difei. After two years, they both recognized each other's ideas. "We and Alex (Wu Difei) have never regarded Wufeng as the MCN with a profit point of 3% per month. Everyone's common understanding is that Wufeng will be the builder, operator and liquidator of the future world traffic asset ecology."

Although they are already friends, they still pulled out and made a round of analysis before investing. They told 36Kr that the team is the most important reason for spending 3% of their money: the founder of the post-9s generation led the post-9s players' team to deeply cultivate the post-9s consumers, who are highly educated, international and have the background of studying abroad.

According to Li Dongze and Dai Junming, millennials grew up in the 2 years when their national strength increased sharply, their material needs were fully met, they saw a lot of the world, and their self-confidence was unprecedented. Reflected in consumption, this generation pays more attention to spiritual consumption, does not follow the rational consumption logic of the previous generation, and is only willing to pay for its own products. Therefore, all walks of life have opportunities for new brands to appear, as long as they really understand what young people need.

Therefore, for investors, the urgent task has become to find entrepreneurs and projects that understand young people. This can also explain why "Young Learning" has almost become a prominent school in the investment field in recent years. There are always investors who use "watching bilibili and playing blind box" to show their sincerity in getting close to young people. However, Egg Fundraising believes that "understanding young people" may not be something that the previous generation learned, but it is an innate ability for young entrepreneurs who grew up in the same environment. Just like every time Li Dongze gets a project called "For Young People", he takes the product and asks his friends around him. If he asks around and says he is not interested and won't buy it, he is basically confident that the project can't be done. This is why they are very sure that they have the opportunity to "post the next WeChat": "Only young people will know what kind of social interaction they need most."

If "every generation has its own story", a stronger sense of body and affection for new things is obviously the innate advantage of egg raising. Dai Junming told 36Kr that although institutions are generally willing to invest in young people in recent years, many "well-known investors" don't really understand young people's projects, but they will give grand guidance with their experience, which makes entrepreneurs who have the mentality of "meeting their elders" more nervous. In this case, they will be more willing to choose an egg fundraising that can "play together" with them.

compared with the track division of traditional funds, the two young investors believe in consumer groups and scenes more. At present, Egg Raising focuses on the favorite fast-moving consumer goods and entertainment products after , and cuts into the hard technology field by supporting the entrepreneurs after . But the future is not limited to this. What they want to see is the adaptation of young people in various scenarios, and it is any product that meets the material life and spiritual needs of the post- generation. As young people grow up, the possibility of egg raising is infinite.

any logic is reasonable as long as it can justify itself, but logic that has not been verified by practice is meaningless. They understand that whether this brand-new style of play and this institution initiated and operated after can work or not needs to be proved to the market with more cases.

As for why they started their careers with investment, Li Dongze and Dai Junming said that it was more out of a sense of responsibility: "Young entrepreneurs need people who really understand and are willing to support them, and we are such people." They said with a kind of frankness exclusive to teenagers: "Our time has arrived, not that we should cater to the tastes of the previous generation, but that they should try to adapt to our lives, because youth is full of infinite possibilities, and we symbolize the future."