Shen Nanpeng's entrepreneurial process?

Shen Nanpeng is currently the rotating chairman and director of China Entrepreneur Forum, chairman of the board of directors of Yale China Center, president of Tianjin Equity Investment Association, vice president of Beijing Equity Investment Association and executive vice president of Shanghai Zhejiang Chamber of Commerce. I'll untie it for you. I hope it can help you.

Shen Nanpeng, Sequoia Capital, said at June 17 CEO Summit and 10th Anniversary Celebration of Investment Enterprises: I don't know where the next outlet is, but I know that the next innovation will be driven by young people. Assuming that according to the average age of Sequoia entrepreneurs in the past year, the best prediction of the average age of entrepreneurs participating in Sequoia events after 10 and 10 is that1was born in July, 993.

Shen Nanpeng's keynote speech at the conference showed his views on the above issues. Although he doesn't know the industry trends, he said in the media before that traditional consumption and service industries such as Internet consumption, enterprise-level applications and "internetization" are one of the key values of Sequoia China.

Shen Nanpeng's point of view is:

1. How does Internet entrepreneurship compete with BAT?

BAT, these giants, BAT are also working hard, and they are constantly innovating, but if you are a small company, you can provide differentiated products and services, and you run fast enough, you may become the next giant.

2. Where is the way out in the next decade?

/kloc-there will be more wonderful things in 0/0, and I believe some of them will come from the internationalization of enterprises in China. As for parting, it's really hard to predict. I firmly believe that Sequoia will be a good service provider in the next decade.

Who will be the king in the next ten years? Born in 1993.

I don't know where the next outlet is, but I know that the next innovation is driven by young people. Suppose we translate the average age of entrepreneurs in Sequoia in the past year into 10 and 10 entrepreneurs who come to Sequoia after that. What is their average age? The best prediction is that he was born in July 1993.

4. Capital Winter Theory?

In the world of sequoia, there is no risk in starting a business. We pursue excellent entrepreneurs, innovative technologies and innovative business models. Winter may be a better time for us to sow.

The following is the full text of the speech:

Dear vice chairman, leaders and guests of the All-China Federation of Industry and Commerce,

Thank you very much for attending the Sequoia 10 anniversary celebration.

Today is the harvest season, 10 year. We want to thank many people in 10 years. First of all, thank the investors. If they don't trust us, there will be no enterprises invested by Sequoia China. We want to thank people who have been 10 years, including financial consultants, brokers and the media. I saw a data yesterday. In the past ten years, more than 100 brokers have cooperated with us. Especially those angel investors, we have many, many cases of cooperation.

Finally, and most importantly, I want to thank the people who came to our summit today, and some Sequoia entrepreneurs who are still on the road. Your hard work has enabled our capital to achieve the best social and economic benefits. You have created many wonderful products and services and changed people's lives. From JD.COM Mall, from Hundred Regiments to Dianping.com, from Huada Gene to the whole year, from ZTO Express to Debon Logistics, the list is very long, so I won't say it one by one.

Entrepreneurs are hard, and so is Sequoia's team. Sequoia people are busy. Where did their time go? They may have little time for themselves and take care of their families. Indeed, the most important thing in this industry is probably to provide investors with the best service. Many people say that the most important thing in the investment industry is vision, and it is very important to have a very good vision. However, the most important thing for me at this time is to do a good job in this industry or the phrase "serving the people". People are entrepreneurs we invest in. This kind of service is embodied in many details, which may help us find a strategic partner for an enterprise and may give this enterprise several candidates for financial director. Just a few days ago, I received a phone call. A very successful internet company completed the recent financing, but Sequoia gave up for various reasons, but the entrepreneur called me to thank Sequoia because Sequoia's team provided him with a detailed report, which included an analysis of that industry and Sequoia himself. He said that Sequoia will always be my partner. Although you are not my shareholder, this is our service for the people.

In the past, some media said that the winter of entrepreneurship and venture capital has arrived. I heard this in 2008, and so did 20 12. In the so-called winter, the seeds planted by sequoias grow into crops. Today, they are very healthy. There is no risk in starting a business in the world of sequoia. We are pursuing excellent entrepreneurs. We pursue innovative technology and innovative business model. Winter may be a better time for us to sow.

Among the guests present today, I saw Dianping.com, noah wealth and Qihoo. We have invested in these three companies for 65,438+00 years. Today, we are very happy to continue to be their shareholders. There are also more than 10 investment companies in Sequoia, and we have invested more than three rounds. I think the capital market will have its waves and the external environment will change, but Sequoia's decision will not change. We need to be long-term, sustained and stable partners of outstanding entrepreneurs.

The entrepreneurs mentioned just now are very hard, and we should pay tribute to them. We still pay tribute to this era. This is a new era, a big era in which everything is possible. The innovation of entrepreneurs provides many entrepreneurs with a golden opportunity. I remember that before 15, as the first batch of internet entrepreneurs, I started that entrepreneurial journey with e-commerce and two other founders. At that time, we were thinking about what the Internet in China should do. However, today's technological changes have given many industries opportunities for success. Not only that, today's opportunities are often opportunities for small companies. If an industry only has opportunities for big companies, it may not be a good thing for entrepreneurs. However, in the Internet industry, we already have BAT. The giants such as BAT are also working hard and constantly innovating. But if you are a small company, you can provide differentiated products and services, and you run fast enough, you may become the next giant. This has happened frequently in the past 65,438+00 years, and I believe there will be more wonderful things in the next 65,438+00 years. I believe some of these wonderful things come from the internationalization of China enterprises. These domestic start-ups have practiced a lot of internal skills in domestic competitions, but they are actually quite competitive and have the strength to go abroad. We should applaud both successful entrepreneurs and losers.

In recent years, some media have asked me, can you tell me which enterprise of Sequoia failed? I don't want to say these names, not because I'm worried that it will affect the reputation of Sequoia. In fact, I feel that many entrepreneurs are still working hard and still on the road. Even if they fail, their own entrepreneurial process is actually a huge asset. In fact, more than 10 of these entrepreneurs are investing for the second time or even for the third time. Their previous venture was not successful, but their previous wishes brought them valuable wealth and made them more mature.

We have experienced this 10 year and are very much looking forward to the next 10 year. To be honest, it's really hard to predict. I firmly believe that Sequoia will be a good service provider in the next ten years. One thing is certain, ten years later, it will be different to hold the annual meeting of Sequoia. In fact, in our time, more and more young people start their own businesses. One thing we have to admit is that since the same era, these entrepreneurs have more business sensitivity and maturity than we did at that time. They have more international professional and commercial influences. So, I don't know where the next window is, but I know that the next innovation is driven by young people. Suppose we translate the average age of entrepreneurs in Sequoia in the past year into 10 and 10 entrepreneurs who come to Sequoia after that. What is their average age? The best prediction is that he was born in July 1993. I believe he is the man who will create the next Sequoia miracle and the future China miracle.

Venture Capital in Shen Nanpeng

Shen Nanpeng was rated as a venture capitalist by Investment and Cooperation magazine in 2006, 2007 and 2008, as a hot investor in 2006 by Cai Ying magazine, as one of the top ten venture capitalists in 2006 and 2008 by Zero2IPO, and as the best venture capitalist in China in 2007 and 2008 by Forbes magazine and Global Entrepreneur magazine respectively. He was named the 50 most leading CEOs in 2006 by Contemporary Manager magazine and the top ten private economic figures in China in 2006 by China Business Times. In 2004, he was also named "Asian Entrepreneur of the Year" by Asian Risk Magazine. 20 10 was selected as one of the top 50 charming people in China by Southern People Weekly-the charm of gold. 201165438+February 5th, Shanghai-Forbes Chinese Edition released the list of "Best Venture Capitalists in China" for the sixth time. Shen Nanpeng, founding and managing partner of Sequoia Capital China, Yan Yan, managing partner of Safran Fund, and Feng Tao, president of Yongxuan Investment, won the top three seats. This is the second year in a row that Shen Nanpeng has topped the list.

In the new environment of financial crisis, Sequoia led by Shen Nanpeng continued the investment strategy of "seeing more China" in the past in 2009, and invested in many companies with high growth potential in science and technology and traditional fields. At the same time, the three companies it invested in were successfully listed on the New York Stock Exchange, the Hong Kong Main Board and the domestic A-share market, and achieved remarkable results. It is also the driving force behind the merger of Sina and Yiju China, and the successful listing of China Real Estate Information Group on NASDAQ only 148 days after its establishment. In February 65438, the investment fund led by Hou Ha helped the management led by Cao Guowei to complete the holding acquisition of Sina.com, the first gateway in China.

Shen Nanpeng is currently a partner of Sequoia Capital China, director of China Entrepreneur Forum, executive vice president of Shanghai Zhejiang Chamber of Commerce and vice president of Shanghai Youth Enterprise Association.

Shen Nanpeng's Alternative Innovation

"The so-called innovative enterprises do not necessarily have revolutionary and breakthrough technologies in their products. Usually, more successful companies can better apply their technology to the market. "

At Lujiazui Forum 20 10, Shen Nanpeng, founder of Sequoia Capital China, made an interpretation of "innovation".

Based on the experience of VC investment and PE investment, Shen Nanpeng believes that creative and revolutionary technologies should be better combined with China local market to achieve better application in China, which is different from pure technological innovation in the past. These companies may appear in traditional industries such as consumption, or in emerging industries such as the Internet. The key is to find a very good combination between technology and the needs of users in China, so as to make the best use of technology in the market.

Shen Nanpeng also said that he is very optimistic about China's medical and health industries and new energy industries. The medical and health industry will benefit from the promotion of medical reform, and the vast second-and third-tier cities and rural markets will be the biggest opportunities. In the new energy industry, solar energy and other technologies have been well applied in China, and clean technology also has huge room for growth. Policy support will enable these industries to survive the most difficult development period. Shen Nanpeng has more and more confidence in such innovative industries and industrial transformation.