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"China's pharmaceutical industry, although GDP growth twice a year, but pharmaceutical companies in the pharmaceutical industry is in the shuffle stage, survival is now more than 3,000 pharmaceutical companies, the investment value is not more than 200, but there are at least 8000 investment institutions concerned in the health industry, if these organizations also use conservative investment thinking, you will find that the face of a major adjustment of the industry, to shuffle, you can almost do anything. "YIQUN Ventures founding partner Guo Haitao recently told in an interview with China investment network interview He told reporters.
"The market is limited, small projects, organizations and more." Guo Haitao is a summary of the status of the pharmaceutical investment industry. In his view, a good team, strong marketing, products have outstanding investment value of the very few companies. Even if there is a perfect investment target, if the price is too high, is not tantamount to a good project.
Under perfect business no longer exists in the pharmaceutical industry environment, billion group has been excavated in this venture investment value of 200 companies out of the three, which was set up a mechanism for investment in August 2015 for no easy task. This stems from the unique Yeastar venture investment logic - with unique investment products and there is a competitive advantage of the enterprise, through a chain of industrial output and services open up all aspects of performance to achieve double the growth.
According to Chinese investment network it is understood billion group from the inception of the venture positioned to focus on medicine and medical industry, owns two funds, the latest one issued in 2016, 500 million yuan scale. Focus in the pharmaceutical industry, pediatric, gynecological medicine.
Focus on "dark horse" of the investment after 70 veterans
If "not old veterans" to describe breaks in, very appropriate. After the 70 investors have deep Before founding Venture Group billion in VC / PE industry more than ten years, but he is best known identity GTJA general manager of Beijing headquarters, Managing Partner, he focused pharmaceutical industry cast more than star enterprise Mindray medical, biological, and other liberal arts.
Why did you leave GTJA choose entrepreneurship? In answering questions from reporters, did not think too much about breaks in, he said, "if you do not seize this business opportunity, you may never have the chance."
Holds an MBA from Tsinghua University, a doctorate breaks in operations research, management engaged in IT technology for some time, out of the investment paranoid love him to join a large state-owned investment institutions, by virtue of talent in the investment, and soon emerge, leading a number of investment projects including the United States and Kyrgyzstan, including biological.
After ten years of experience, breaks in the pharmaceutical industry more profound understanding. He felt that this is a relatively low-risk, high-yield, but is a high threshold investment, professional requirements and strong fields. "If you want to do in this industry investment, with no real skill, just difficult."
2015 is the sixth year of China's medical reform, the NDRC announced the cancellation of most of the government drug pricing, advocated by the Drug Price competition in the market to form. Let breaks in the medical industry reshuffle see hope, and this is his chance to sharpen more than ten years has been like. He and longtime friend and partner in supporting investment billion Group Holdings, create focus on medicine and medical industry YIQUN venture capital, which has become its main LP.
In terms of investment strategy, with breaks in their own unique perspectives. Why small-scale investment, low profits and not by most people this is optimistic about the business it breaks in the "dark horse" investment strategy -? "Invested enterprises will be valuable to drug administration, and the most fundamental measure of the value of medicines core must have the exact effect, can cure the disease, and is a unique species, the future can work independently in the market. "
"Investment + transformation" project performance booster multiplier
A pharmaceutical product is an investment philosophy breaks in practice before the establishment of venture capital billion group. This is a production of narcotic business, higher barriers, only short board sales. Zhuhai breaks in practice is a sales team to assist its acquisition. After the completion of the acquisition, a pharmaceutical product performance has been explosive growth in about a year, sales rose to more than 20 million yuan.
Like a pharmaceutical product that can be achieved explosive growth through boosting sales on the enterprise in the eyes is not accidental breaks in the case.
Ampang Pharmaceuticals is the first project in YIQUN breaks in venture capital led investment, the advantages of this enterprise in the primary care market, with an excellent management team. Ampang pharmaceutical billion group investment logic is to help corporate management team to do MBO (management buyout). Guo Haitao think this is the pharmaceutical industry problems, the company's management team are mostly small shareholders. Yeastar venture capital investment this company just six months time, the valuation has increased 60%.
The second project, Peng Yang medical treatment. This is also the only domestic production of eighteen-lead Holter monitor business, it can be heart-round, three-dimensional monitoring. This instrument belongs to the medical grade, only hospitals can be done, but the Chinese hospitals with mostly 12-lead, this company's products can go beyond the current hospital owned by 12-lead products, to provide ECG diagnostics provide more accurate The data. Peng Yang on medical products has a strong advantage, but in terms of building a team is not doing well, set up by venture capital billion group marketing team the way into the enterprise, to help them to maintain high growth in terms of revenue.
The third project, Jing quasi-medical. The business judgment and extent of the drug in patients with matching genes through genetic testing, so as to achieve the best treatment more targeted treatment. "The founder of this company belongs to the second venture, his first project was my first time working with him, has been acquired. Based on his previous success, I am willing to join hands again with its success, which is why I and the second reason for his cooperation. "Guo Haitao expressed.
Yeastar venture this "investment service" style of play is suitable for all aspects of business in addition to production, and breaks in to do now is to build up a set of complete industrial chain service system - the "service industries, create value". He invested Chinese network reporter explained that this is not a slogan, but really close to industry. "We will sign with the investment companies 'reverse agreement on gambling', for example, if this company revenue this year of 500 million, next year we promise to let his performance reached 10 million yuan, can not make it, creating billion group exit vote. As a result, assuming that other agencies are given 300 million yuan project valuation, venture capital of 100 million billion group will be able to cast into. "
The breaks in the self-confidence is not arrogance, not only in its own more than ten years of practical experience in investment, but also in Group billion venture capital has a quite characteristic of the team, on product judgment, registration, sales and other services, each members can play a different capacity and the formation of complementary advantages. Group billion high-speed rail courtyard is another founding partner of venture capital, pharmaceutical companies have decades of management experience. Breaks in his evaluation is: "Chinese medicine sales, he ranked second, nobody can be ranked first."
Turning to the future direction of billion group of venture capital, Guo Haitao said that after a series of cast Ampang pharmaceutical, medical and Peng Yang Jing paramedical these three projects, the past two years will focus on the pharmaceutical industry to expand distribution, dispensing two tracks, medicine, chemical medicine is the best starting point. In the few cares gynecology, pediatrics fields, olive billion group of venture capital has thrown six companies.
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