Guan Kou spent a week talking about financing to Sequoia, SoftBank, Goldman Sachs and other large venture capital companies.

It also publicly revealed that Ruikang Medical wants to complete the A round to the outside world, which has attracted the attention of many venture capital companies. Some companies that are optimistic about Ruikang and are willing to take risks have also sent olive branches to Ruikang.

After Guan Kou summarized and sorted out all the information about venture capital companies he came into contact with, he came to Chen Changan, who was still burying his head in studying the induction of hematopoietic stem cells with his documents.

"Mr. Chen, after reading our financial statements, several large multinational venture capital companies have high interest in our Ruikang Rong Series A round, but most of them need to provide additional specific reports of the currently under development projects in order to make a suitable assessment."

"And some of the larger venture capital companies in China are willing to negotiate financing with us at valuations ranging from 6 billion to 10 billion after reading Ruikang's earnings statements."

"The one with the highest bid is Shenzhen Venture Capital. Because they have venture capital experience in biomedicine, they are very optimistic about our Ruikang Medical and are willing to exchange 20% of their shares for a price of 2 billion."

Shenzhen Venture Capital is the local venture capital institution with the largest capital scale and the strongest investment capabilities in China. Its main investment areas are companies focusing on industries such as consumption upgrading, biomedicine, energy conservation and environmental protection.

Since its establishment, Shenzhen Venture Capital has invested in nearly 800 projects, including 136 listed companies, which are one of the best investment institutions in China.

Chen Changan, who had been busy under the microscope, listened to her report, straightened his back and turned around, took off the goggles on his face, and called Guan Kou to a small corner next to the laboratory.

After confirming that the conversation would not disturb the work of other researchers, Chen Changan whispered: "For 2 billion yuan to exchange for 20% of the shares, it is indeed a very good price before our artificial hematopoietic machine and biological pacemaker are successfully developed."

Based on Ruikang's current net assets and profit rate, the valuation of 10 billion is already a very high quotation, even exceeding Chen Changan's psychological expectations.

However, he does not intend to start the A round of negotiations now, but just selects a few venture capital companies with good vision.

"ShenChuangye's offer is very sincere and can continue to maintain contact with this company, but don't agree to their financing requirements."

Chen Changan smiled meaningfully and said confidently: "At present, the company's two new product projects are going well, and it may only take more than a year to conduct clinical research."

"After I injected 200 million into the company, the temporary financial crisis has passed. The company's monthly revenue is enough to support the subsequent R&D funds and operations."

"When the clinical trials of the two new products are successful and then seeking financing, the valuation can expand several times. At that time, 20% of the shares can be exchanged for at least 4 billion yuan in investment, so there is no hurry."

But Guan Kou looked embarrassed. She said embarrassedly: "Mr. Chen, the registered capital of Shenzhen Venture Capital is 3.5 billion, which only has the ability to invest 10 billion yuan. At most, plus the 10 billion yuan of capital absorbed from the outside, a total investment amount of 20 billion yuan."

"At present, they have invested in more than 800 projects. Although the projects are big and small, and some have been sold and monetized, the current investment amount of Shenzhen Venture Capital should be only 30 to 4 billion."

Under normal circumstances, a startup company only needs a few million to raise a round A financing, and it is rare to raise tens of millions of yuan in the A round. How could Chen Changan be like that? It would have to raise a few billion yuan from the beginning.

Generally, companies can go public and cut leeks long ago, and only when they go public and cut leeks can they get billions of funds at one time!

Otherwise, if you want to earn such a large investment amount by relying on an investment company, then only large multinational investment institutions such as Sequoia and Goldman Sachs, which are rooted in Wall Street, can spend so much money at one time.

At the beginning, DJI had to find Sequoia Capital, sold 20% of its shares, and raised a large amount of cash to accelerate development.

Otherwise, if you want to find some second- and third-tier investment institutions, you may need more than a dozen venture capital companies to participate in it before you can take over Ruikang's A-round financing.

But Chen Changan didn't want the company's shares to be divided too much, and introduced more than a dozen capitals at once. Although they won't have many shares in a single position, they are shareholders, and they have the right to know the company's operations, so it's annoying to have some of them.

And this is just a round A, so much capital has entered the market. What should I do if I follow the B round C round?

Therefore, only allowing one investment institution to invest in the A round is the result that Chen Changan hopes for.

"Apart from the giant investment institutions on Wall Street such as Sequoia and Goldman Sachs, are there no investment institutions in China capable of taking over our Series A financing in one go? If it really doesn't work, it can absorb three capitals to enter the market." Chen Changan asked without giving up.

He asked Guan Kou to ask several Wall Street venture capital companies such as Sequoia and Goldman Sachs, just to grasp the valuation of these venture capital companies for Ruikang, and to send a signal to the outside world that Ruikang is going to raise funds, hoping that companies interested in participating will take the initiative to contact themselves.

Sequoia and Goldman Sachs are just tools of Chen Changan.

He doesn't really want to introduce Wall Street's capital so early now. Although the capital relationship behind the medical equipment industry companies is complicated, most of them are from Wall Street. If Chen Changan also joins, it will be quite passive.

Guan Kou thought about it for a while, but there were actually some.

She explained: "Mr. Chen, in addition to some pure venture capital companies, such as insurance, banking, and fund organizations in some countries, will also participate in corporate investment."

"It's just that compared with venture capital companies, these funds, banks and insurance companies are relatively conservative in terms of investment, because their sources of funds are provided by their own customers, and they need to be returned to customers after maturity, so they usually make some long-term and stable investments."

"They rarely participate in investing in commercial companies because the risk and uncontrollability are too high, which is not very consistent with their style of seeking stability."

"Unless they are very stable and mature large companies, they will participate in some investments. Generally, startups are unlikely to participate in the A round."

Organizations and enterprises such as banks, treasury bond funds, social security funds, and life insurance will actually make various investments in private, otherwise the large amount of funds in the account will depreciate due to inflation and will not operate, and there will be no interest to customers at all.

However, the prerequisite for their investment is to protect the capital, avoid losses as much as possible, and minimize risks, which are generally loaned to other state-owned enterprises, or invest in some stable industries. Although the profit margin may not be too high, the loss rate is greatly reduced.

It is a bit difficult for Ruikang to get their investment in the A round.

But Chen Changan said unwillingly: "Guan Kou, come into contact with these funds and insurance departments, ask about the situation, and show the company's development prospects and current good operating status to talk to them seriously. Maybe there is a chance?"

"Okay." Guan Kou nodded helplessly.
Chapter completed!