When Academician Pan took out two application forms from his body, Xu Yun and Zheng Zu quickly figured out the cause and effect:
Before today's three-party...or four-party meeting, Tian Liangwei and Academician Pan had already prepared everything!
Although the commercial prospects of fifth-generation imidacloprid are very attractive, in the final analysis it is only a type of biological pesticide, and it is far from reaching the level of Lipitor, ibuprofen or the little blue pill.
Therefore, it is already a very high standard to have the secretary-general of a new venture fund like Zheng Zu come forward in person.
8 million cash flow plus additional items, accounting for 43%.
In other words, the new venture capital's valuation of Xu Yun's company is around 18 million.
As a science and technology innovation fund for universities, the specific definition of the links involved in the New Venture Fund is actually relatively vague.
However, it is usually either a VC or an angel, and occasionally there are a few A rounds and a few B rounds.
Xu Yun's current situation can be regarded as between Angel and Series A. After all, he has no commercial finished product yet.
This kind of round is valued at 20 million Huaxia coins. What is the concept?
Give me a chestnut.
A certain investor’s angel round financing in 2012 was only US$300,000, and the Series A round in 2013 was approximately a few million US dollars, led by Sequoia and Morningside.
And what was the peak market value of a certain hand when it was listed?
1.2 trillion Hong Kong dollars! (Of course, it has now dropped to 300 billion)
In addition, Bilibili’s financing in 2013 was similar, at the level of one million U.S. dollars.
Another example is the SpringWorks Therapeutics project, which is somewhat similar to imidacloprid, and is also engaged in biomedicine.
Among them is a gamma-secretase inhibitor called nirogacestat, which has obtained orphan drug status from Eagle for the treatment of desmoid tumors. The single valuation of the A round is only US$600,000.
Therefore, the valuation given by the new venture is definitely not low even for the A round.
However, the importance of new innovation must be taken seriously, and the stakeholders it represents are not simply HKUST. This matter has been introduced before and will not be repeated again.
At the same time, considering that if Xu Yun were to invest purely with technology, the shares would inevitably have an upper limit that was not in line with his wishes. Therefore, Academician Pan, who learned about the relevant information as the executive vice president of HKUST, prepared such a back-up plan with Tian Liangwei in advance. .
Aren't you sure that Xu Yun has no cash flow?
So now that he has it, you can't stop him from investing money anymore, right?
"Academician Pan, Academician Pan..."
In the office, Zheng Zu, who had figured out the cause and effect, was silent for a long time, and finally sighed:
"You really care about your student.
500,000 entrepreneurship support from both colleges. I remember the last time our school had this kind of treatment, it was Pang Shen from the math college, right? "
Academician Pan flipped up his sparse hair on his forehead very domineeringly. He was actually a person who loved washing his hair, but for some reason his hair was always as limp as if it had been oiled:
"They both have a GPA of 4.3. Xiao Pang can sign up for support from both colleges, but why can't Xiao Xu?
Secretary-General Zheng, you should also know.
This kind of support for entrepreneurship at several levels cannot be approved by Mr. Tian and I just by talking about it. Being recognized by everyone is also a skill. "
Tian Liangwei on the side heard this and nodded cooperatively.
As Academician Pan said.
An individual's contribution of five hundred thousand and the college's approval of five hundred thousand are completely different things.
He and Tian Liangwei both have their own industries, and the annual licensing fees for some of the patents they hold are quite generous. It is not difficult for them to each lend 500,000 to Xu Yun.
But in this way, it is likely to bring some unnecessary trouble to Xu Yun.
Some are verbal and some are political.
But the support from the college is different. This means that Xu Yun received the funding from the college through his own efforts.
The source of the money is pure and clean, and there is nothing fishy about it. People who think of conspiracy theories will not be able to get away with it. At most, they can just say something sarcastic about having a good teacher.
Then Zheng Zu raised his head and glanced at the people present, and suddenly felt a sense of powerlessness in his heart like a weak woman fighting against three black and hard... ahem, Lu Bu fighting against three heroes:
"In that case, Academician Pan, Academician Tian, and Dr. Xu, let's talk about the issue of share distribution in detail."
As soon as Zheng Zu finished speaking, he saw Academician Pan curling up his legs:
"Secretary-General Zheng, the Academy of Physics has one requirement. The shareholding ratio must be the same as that of the Academy of Biological Sciences. In addition, money must be given to money, and resources must be given to resources."
"..."
Academician Pan's words were said lightly, but Zheng Zu's head suddenly grew bigger:
"Academician Pan, your request is too modest..."
"This was the unanimous opinion of the leaders of the Institute of Physics before I came. Dean Shen and Academician Ouyang also had this attitude."
Zheng Zu: "..."
Little known.
HKUST is a university with a serious bias towards subjects.
For example, in the fourth round of national subject evaluation results, the humanities and social sciences category of USTC was only rated C, but physics was ranked as the only A+ in the country together with Yanda.
This is also reflected in school recruitment advertisements:
The recruitment advertisements for other schools such as Zhejiang University, Renmin University, Shanghai Jiao Tong University, etc. all feature pure and beautiful senior students. Only HKUST has two dogs running in the snow...
Currently, there are 17 academicians in the Academy of Physics of USTC, and more than 200 people have senior professional titles. Among them, Dean Shen and Academician Ouyang mentioned by Academician Pan are the authoritative representatives.
So when he suddenly heard these two names, Zheng Zu suddenly became wilted and started to chirp:
"This...this...hey, okay, just follow your opinion."
As the saying goes, it is better to chase the poor bandits with the remaining brave men. Seeing this situation, Tian Liangwei also quickly followed with a snake stick:
"The other thing is Xiao Xu's shares. Secretary-General Zheng, how much share do you think Xiao Xu can hold with the one million cash inflow?"
Seeing that the two big academicians were clearly supporting Xu Yun, Zheng Zu had no choice but to put away his previous unrealistic ideas, thought about it seriously, and said:
"Academician Tian, Academician Pan.
The fund's valuation of Dr. Xu's products is around 18 million. If the cash flow of 1 million is mixed in, the ratio will be 5.555%...5.6%.
Counting the previous 28%, the theoretical proportion is 33.6%..."
Tian Liangwei nodded slightly and turned to look at Xu Yun:
"Xiao Xu, what do you think?"
Xu Yun was silent for a few seconds and said:
"I have no problem with the cash ratio, but I still can't accept the technology share ratio. The sum of the two must be at least 40%."
"Dr. Xu, there is really no way..."
Facing Xu Yun's request, Zheng Zu rubbed his temples helplessly. Then he looked around cautiously and said in a low voice:
“Now that it’s happened, I’ll tell the truth.
You should know that although the authority of our fund is relatively independent, we are still responsible to the Academy of Sciences after all.
The incident involving the Mu family not long ago had a great impact, so now that we engage in financial investment, there are also certain restrictions. So it’s really not that I’m stuck on these points, but that the current form is like this... ..”
Tian Liangwei blinked:
"Which Mu family?"
Zheng Zu spread his hands and said straightforwardly:
"Who else could it be? The Mu family who makes computers."
Tian Liangwei's face showed surprise, and he turned to look at Academician Pan.
Academician Pan Wenxian nodded knowingly and said:
"Secretary-General Zheng said it is indeed true. Xiao Xu, Secretary-General Zheng, in that case, how about we all take a step back?
Let me give you a number. Xiao Xu’s 38%, AB shares, if the employee options are reduced a little, Secretary-General Zheng should be able to deliver. "
Zheng Zu pursed his lips and quickly calculated in his mind.
After a few seconds, he breathed a long sigh of relief and said:
"No problem, just do as Academician Pan said."
38% is a little different from the 40% Xu Yun thought, but it is already many times better than the 23% at the beginning.
Xu Yun is not a person who doesn't push numbers. With AB's equity in hand, the company's decision-making power is firmly in his own hands. This is undoubtedly the best result:
"That's okay with me, just sign the contract."
At this point, the issue of cooperation has been settled. Zheng Zu reported the situation back to the foundation. As long as the chairman of the foundation approves it, the agreement can be officially signed.
While waiting for the receipt, Zheng Zu, whose pressure had dropped sharply, couldn't help but chat with a few people:
"By the way, Dr. Xu, do you have any ideas about the company's name?"
Xu Yun nodded:
"I do have an idea..."
"Oh? What's it called?"
"One mantis will kill you, what do you think?"
A moment later, three roars sounded in unison in the office:
"Aren't you afraid of being beaten to death by readers?"
........
