168: Enraged, Sequoia Capital's "King Lin" is back in the stock market!

In the end.

Based on the current funding needs of DJI, the 60 million USD investment was structured over a period of three months.

The first batch of 30 million USD was transferred immediately.

The remainder would follow three months later.

Wang Lin was also a little astonished upon hearing this.

This DJI is truly formidable at making drones, but damn, it burns through cash fiercely too.

30 million USD is only enough to last three months?

But considering that all their materials are researched and manufactured in-house, it seemed acceptable.

This deal is definitely not a loss!

However, over at Sequoia Capital.

Neil Shen, the actual person in charge of Sequoia China.

Currently, he is not only the founder and partner of Sequoia China.

He has also consecutively ranked first on the Forbes China Best Venture Investor list for four years.

Yet, this person, who possesses extremely sharp foresight, had the meat snatched right out of his mouth!

Originally, he intended to give DJI the cold shoulder for a while longer, lower the valuation, and incidentally gain some influence over them.

In his mind, there weren't many VCs in China who would look at the drone industry, especially since the company had experienced failure and the risk of the founding team dissolving.

But within just a few days, when he inquired again, he was informed that...

DJI's Series A financing had already concluded!

Neil Shen's first reaction upon hearing this was that the person was joking.

He had offered a valuation of 1.5 billion USD! Who else in China could offer such a high valuation while also providing them with additional assistance in other areas?

"Was it IDG, China Growth Capital, Legend Capital, or maybe Dacheng Venture Capital?" Neil Shen could hardly believe it.

But the person just shook their head and said, "We cannot disclose that currently. In short, the Series A financing has ended."

"If you wish to know who it was, you can personally ask our CEO Wang. I truly cannot disclose it to you. You can also follow our company's official website, as the information will likely be released later."

Hearing this, Neil Shen felt his head buzz.

This guy dared to speak to him like that?

It definitely must have been instructed by that old guy behind Wang Tao.

What, did they feel 1.5 billion in valuation wasn't enough?

"Then I'll just have to see exactly how much investment you managed to secure!"

Neil Shen was indeed extremely optimistic about DJI's drones; otherwise, he wouldn't be acting this way.

He immediately called Wang Tao's mobile phone: "CEO Wang, you didn't even bother to tell me about the Series A financing?"

Wang Tao had just received 30 million USD and was eager to start making big moves, so he didn't have time to argue with Neil Shen.

However, he couldn't afford to offend the other party, so he could only say helplessly, "CEO Shen, we simply couldn't accept the proposal you offered, so we had no choice but to seek another path."

"To be honest with you, our company will officially disclose this information tomorrow. I can reveal here that the VC that invested in us was Junlin Finance! The valuation they offered was 2 billion USD!"

Neil Shen had heard of Junlin Finance.

It was rumored to be incredibly powerful in the recent stock market, thriving spectacularly, and had already crushed several Institutions.

Its total assets were estimated to be in the tens of billions, making it a very capable rising company, but only a rising company.

It wasn't qualified yet to compete with their Sequoia Capital.

Of course, the two were not operating in the same track.

But didn't they specialize in secondary market investments?!

Why did they want to get involved in VC too!!

Did he even know how to play this game?!

Or perhaps the boss of that company was ambitious?!

Many speculations instantly arose in Neil Shen's mind.

But after thinking carefully.

The valuation they offered was indeed substantial—2 billion USD, which was slightly inflated.

But Neil Shen shrewdly considered that the company had only risen in the last two years and only had achievements in the stock market.

In other words, they offered no help to DJI other than financial assistance!

When calculated that way, the valuation they offered was actually reasonable.

Neil Shen brought up this point: "I know Junlin Finance, but forgive my frankness, their assistance to your company is likely limited purely to funding!"

His tone was filled with contempt.

But Wang Tao chuckled, "However, funding is indeed what we lack the most right now. Furthermore, CEO Shen, you missed one point: Brother Lin gave me trust."

Trust?

Neil Shen sneered slightly; that word was a derogatory term in the capital market.

"For that 3% share, he has already handed the voting rights over to me for a period of ten years!"

This statement left Neil Shen somewhat shocked.

Holy hell.

What exactly was this kid playing at?

Ten years of decision-making power?

Neil Shen knew how attractive this was to companies seeking financing.

How was this different from having shares with unequal voting rights?

Neil Shen sighed, but since he was genuinely optimistic about DJI, he added, "It seems I missed out on your company's financing this time, but please be sure to inform me before the Series B round."

Wang Tao nodded, confirming that this was a certainty.

After hanging up the phone.

Neil Shen was far from as calm as he sounded on the phone. He lit a cigarette, took two deep drags, and felt a persistent sense of frustration.

"Damn it, if you stand by the river often, you're bound to get your shoes wet eventually. I actually messed up this time."

...After consecutively securing Snow King and DJI, Wang Lin felt as if he had divine assistance during this period.

As for the remaining ByteDance Company.

Wang Lin didn't believe he could secure them just by relying on the power of money.

Forget about taking the entire Series A like he did with DJI; for ByteDance Company's Series C financing, it would be good enough if he could just hitch a ride.

After all, he truly couldn't provide ByteDance Company with any assistance beyond funding.

But Wang Lin wasn't greedy; financial assistance was still assistance, and all that mattered was getting on board.

The lead investor would definitely still be Sequoia China; they were simply unavoidable when investing in China.

It seemed he would have to deal with Neil Shen in the future.

After many days.

Walking into the trading room again, Wang Lin said to Zheng Huan, "Tell me about the recent situation!"

Zheng Huan organized his thoughts and immediately replied, "Recently, our company has been comprehensively selling off beijing-tianjin-hebei integration stocks, and simultaneously, as you instructed, we are quietly buying shares in the military industry sector!"

"Excluding the suspended chengfei integration, we've been buying stocks like fushun special steel, Saijie Technology, Aerospace Power, Northern Navigation, Chengfa Technology, and Aerospace Electronics..."

A series of stocks were all quietly purchased by Junlin Finance.

The total purchase amount has already reached over 4 billion.

According to Wang Lin's estimate, the moment chengfei integration resumes trading after its suspension will be the time when military industry sector stocks start skyrocketing.

Therefore.

They still have nearly a month to accumulate shares.