After signing the grant application, Zhang Shuo began to think about how to allocate overseas assets.

The initial capital of US$1.5 billion, plus the support fund of US$200 million per month, placed in the international capital market, is just a drop in the ocean and cannot make a big splash.

An inappropriate metaphor.

If this capital is kept unused and the entrepreneurial level is not continuously improved, by January 2022, the accumulated overseas accounts will have a total of US$24.9 billion.

At the same time, Microsoft spent $68.7 billion just to acquire Activision Blizzard.

It's obvious.

Of course, this is not how the accounts are calculated. Excluding the factor of inflation, if the current capital cannot appreciate tenfold or even twentyfold in the next ten years under Zhang Shuo's operation, it will be a complete failure.

It's definitely more than enough to buy Activision Blizzard.

But of course Zhang Shuo’s ambition will not be limited to just Activision Blizzard, but he hopes to build the Dream Fund into the world’s largest private equity fund and investment institution.

Only then can you truly gain the right to speak.

At this stage, Zhang Shuo didn't have any suitable investment targets and didn't have enough funds. He immediately issued the first order on the overseas panel, which was to continue to absorb the liquid stocks of the beautiful country's stock market.

Including but not limited to dozens of star stocks such as Apple, Micro, Asia, Valley, Wo, Qiang, Te, Di, etc. Among them, Tesla, Amazon, Disney and other stocks with the highest price-to-earning ratios are the main ones.

Especially Tesla, which just went public in 2010, has a price-to-earnings ratio of more than a thousand times, and you will make money if you buy it.

If Zhang Shuo's ambition is limited to financial investment and maintaining and increasing the value of assets, then after such a operation, ten years later, he will become the most visionary investor in the world.

Buffett probably can only sigh at himself.

Compared with buying Tesla stock, operations such as buying coins are inferior and the volatility is too high.

………

Prussia.

At the same time that Zhang Shuo issued instructions through the system panel, a financial institution far away in Frankfurt had simultaneously received relevant operation instructions.

This financial institution is called Dream Fund, and it is also the overseas agent of Dream Fund.

The person in charge of the agency is named Howard. He comes from a long-established aristocratic family in Europe. His family has extensive connections throughout the Western world.

Of course I am also very talented.

As the CEO and president of DF, Howard only took office half a month ago and successfully applied for the job through an email. He never met the boss behind the scenes.

The only information that can be found is that Dream Fund has invested in a start-up company in China, Sprout, and holds 33% of the shares of Sprout Group.

After taking office.

Howard is responsible for recruiting personnel, leasing office space, and setting up the framework of DF.

Then there is nothing to do.

It wasn't until yesterday that 1.5 billion US dollars was suddenly transferred to DF's account that it really started to work.

"Stock investment?"

After seeing the instructions sent by the boss behind the scenes via email, Howard, as a professional manager, did not delve into who the boss behind the scenes was, nor did he question the correctness of the instructions.

This kind of saucy operation is actually not uncommon in the financial circle.

As for continuing to absorb U.S. stocks and make long-term "value" investments, that is also the routine operation of some capital giants, and there is nothing to make a fuss about.

Howard's task is to execute instructions, and there is no easier job than this.

Although DF's office is located in Frankfurt, its business is connected to Gangduo Financial City, so it can easily intervene in the global capital market and handle most investment operations.

………

afternoon.

Zhang Shuo didn't know the existence of DF, let alone who Howard was. He was still immersed in work. In the office, he met Roger, the newly appointed vice president of Maili Group and general manager of Daosui Semiconductor.

Lu Kai and Gu Mingzhang are also there.

Just as Zhang Shuo had predicted, the recruitment of Luo Jie went smoothly, and Germination's overseas appeal was no longer what it used to be.

The content of the conversation naturally revolved around the semiconductor industry.

"How many employees are there at Daosui Semiconductor?" Zhang Shuo asked with concern.

"There are only 500 people now, all of whom are talents poached from various companies. By July, 500 new employees will join the company, reaching a scale of 1,000 people."

When Roger left Apple, he also took with him more than thirty Chinese chip engineers.

"Can it support the chip design work of Maili X1?"

"Well, I definitely won't be able to catch up this year." Roger told the truth.

"The chip design of Maili X1 is currently outsourced and self-developed. Most of it is outsourced, and Daosui Semiconductor is only responsible for the core part." Gu Mingzhang continued to explain.

"Step-by-step development is still too slow."

In the past, Germination Group was short of funds and Zhang Shuo had no other ideas. Now that the funds are abundant, he can no longer tolerate this "clumsy" model of starting from scratch and developing step by step.

“Let’s go the route of mergers and acquisitions.”

Zhang Shuo looked at Lu Kai, "Besides HiSilicon, who else is stronger in the domestic chip design field?"

"If you want to acquire, then I recommend Zhanxun Communications or Redeco."

Because he wants to invest in the semiconductor industry, Lu Kai has done enough homework recently. He can't say everything about domestic semiconductor companies, but he at least knows some names.

Zhanxun Communications and Ruidike are engaged in mobile phone communication chip design.

The so-called communication chips mainly include baseband chips and radio frequency chips. The radio frequency chip is responsible for sending and receiving wireless communication signals, and the baseband chip is responsible for digital processing of the signals sent and received by wireless communication.

Both play fundamental and indispensable roles.

Compared with the Snapdragon, Kirin and other mobile application processor chips that consumers are familiar with, the role of communication chips is more like a "behind-the-scenes hero".

Maili X1 plans to use the Snapdragon processor chip. Just now Gu Mingzhang said that Maili Group is responsible for the design of the core part of the mobile phone chip, which is a bit of a whitewash.

The newly established Inaho Semiconductor has no plans to touch the real core processor chip.

This chapter is not finished yet, please click on the next page to continue reading the exciting content! If the application processor chip is the "brain" of the mobile phone, then the communication chip is more like the "ears" and "mouth" of the mobile phone.

Founded in 2004, Ruidike is still a newcomer in the communication chip industry. It is especially good at radio frequency chip design and has launched the "Little Smart" radio frequency chipset with independent intellectual property rights.

Redeco is more of a hardware-oriented company. In addition to making radio frequency chips, it is also the number one supplier of power amplifiers, Bluetooth, FM and DVB-S tuner chips in the domestic market.

In 2010, Ruidike was listed on the beautiful country.

Zhanxun Communications, founded in 2001, is more comprehensive. In addition to making communication chips, it also makes multimedia terminal chips. It is already the number one chip design company in the country.

In 2007, it was listed on the beautiful country.

In 2009, Zhanxun mass-produced the SC6600L baseband chip, which was considered by the industry to be superior to MediaTek's flagship product 6225, but at a lower cost.

In 2010, Zhanxun launched the world's first 2G version of the 3-SIM 3-standby solution and quickly mass-produced it.

In addition, it also developed the world's first 40-nanometer 3G mobile phone chip.

Among the chip design outsourcing companies of Maili X1, there are two companies, Zhanxun and Ruidike.

"Then start the acquisition process."

Zhang Shuoyuan Spacetime has also heard about these two chip design companies. It is not that these two companies are famous, but Yuanshikong was acquired by the semiconductor "giant" Blu-ray Group in 2013 and 2014 respectively.

After Blu-ray Group acquired Zhanxun and Ruidike, it merged the two companies and became China's second largest mobile phone chip design manufacturer after Hayes.

Ironically, a few years later, Blu-ray Group itself became insolvent due to its aggressive investment and acquisition strategy, and faced the embarrassing situation of bankruptcy and reorganization.

It's really sad.

Compared with Blu-ray Group, Daosui Semiconductor has both the business support of Maili Mobile and the financial support of its parent company, Sprout Group. It is not afraid of the capital chain being broken and can burn money more calmly.

But it also reflects from the side that only relying on investment and mergers and acquisitions can make us bigger, but not stronger.

Because it involves integration and collaboration within each company.

If the integration is good, the effect of one plus one is greater than two; if the integration is not good, it may even hinder each other and cause internal friction, and the negative effect of one plus one is less than two will continue to occur.

But as far as the current situation is concerned, mergers and acquisitions are still the best choice for Daosui Semiconductor.

Time waits for no one.

"Are they acquiring both companies?" Lu Kai was very surprised. "Currently, Zhanxun's market value is around 8 billion, and Ruidike's market value is also around 4 billion. If we want to buy them all, we need to prepare about 15 billion."

funds."

Because both companies are listed companies, a premium must be considered for a wholly-owned acquisition.

"Then start the acquisition of Zhanxun first, and Redeco will discuss it in the second half of the year."

After scanning, it was found that the total liquidity of the sprout account was only 15.5 billion. Zhang Shuo was also ashamed. He was very confident in the morning, thinking that for a long time, sprouts would no longer be short of funds.

As a result, just when we were about to make a big move in the semiconductor industry, we were unable to hold on to funds.

In my impression, from 2013 to 2019, in just 6 years, Blu-ray Group and its affiliated companies successively initiated mergers and acquisitions of more than 20 companies, investing more than 100 billion, mostly in different types of chip companies.

This shows how much money the semiconductor industry is burning.

"We can't be proud. We have to continue to make money in the Internet industry. Otherwise, we really won't be able to build enough."
To be continued...