Home » Wahaha enters the private equity industry, 75-year-old Zong Qinghou holds a certificate-Finance News

Wahaha enters the private equity industry, 75-year-old Zong Qinghou holds a certificate-Finance News

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Original title: Wahaha enters the private equity industry, 75-year-old Zong Qinghou takes up work with a certificate

Wahaha officially enters the private equity industry!

According to the website of the Fund Industry Association, “Zhejiang Wahaha Venture Capital Co., Ltd.” completed its registration with the association last month. Zong Qinghou, a well-known entrepreneur and Wahaha founder, obtained the qualification for fund business and served as the company’s legal representative and executive director. Zong Qinghou has reached the age of 75, so the news has caused widespread concern in the industry as soon as it came out.

Obtaining qualifications for senior citizens

According to the information published by the Fund Industry Association, Zong Qinghou obtained the qualification for fund practice on July 12, and his institution is Zhejiang Wahaha Venture Capital Co., Ltd.

Zong Qinghou was born in Hangzhou, Zhejiang on November 16, 1945. As the founder of Wahaha Group, he is already the top richest man in China. He was the richest man in China three times in 2010, 2012 and 2013.

It is worth noting that this time Zong Qinghou obtained the fund practice qualification through qualification certification, not through examination. The Fund Association previously stipulated that senior managers of qualified private equity investment fund managers (including venture capital fund managers) can apply to the Association’s Qualification Accreditation Committee for the qualification of fund practice, one of which is that they have served as a listed company or paid-in capital. Senior managers of large and medium-sized enterprises with no less than RMB 1 billion and have been in business for 12 years or more. Zong Qinghou obviously met this condition.

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In addition to Zong Qinghou, 6 employees of Wahaha Ventures have recently obtained fund qualifications.

Positioning PE/VC

Wahaha Venture Capital is not a new company. The company was established on November 8, 2010. At the end of April this year, the company changed its business scope and added multiple businesses such as PE/VC, and officially completed its registration with the association on July 9.

Information from the association shows that the company has a registered capital of 300 million yuan, and the type of organization is private equity and venture capital fund managers. At present, the company has 7 full-time employees, and the management scale ranges from 0 to 500 million yuan.

The three top executives of Wahaha Ventures are all from the group company. Zong Qinghou is the legal representative and executive director of the company. The general manager Yin Xuqiong and the head of risk control and compliance Yu Dongni were originally investment managers of Hangzhou Wahaha Group Co., Ltd. Investment Finance Office.

Before the registration of the association, Wahaha Venture Capital had participated in indirect investment as an LP many times, including top PE Hillhouse Capital.

According to Tianyancha information, since its establishment, Wahaha Venture Capital has participated in 6 outbound investments. They are: November 29, 2016, invested in Qirui Equity Investment Center (Limited Partnership) in Ningbo Meishan Free Trade Port Zone, accounting for 5.2882% of the shares; On February 15, 2017, invested in Hillhouse Zhicheng Changjiang (Hubei) Artificial Intelligence Equity Investment Fund Partnership (Limited Partnership), accounting for 13.3842% of the shares; May 17, 2016, invested in Dali Zongsheng Intelligent Technology Co., Ltd., accounting for shares 15.6221%; March 7, 2017, invested in Fengchuan Hongbo Investment Management Partnership (Limited Partnership) in Meishan Bonded Port Area, Ningbo, accounting for 28.8462%; March 3, 2017, invested in Hangzhou Wahaha Juhe Information Technology Co., Ltd. , Accounting for 51% of the shares; on August 27, 2018, Zhejiang Deqing Wahaha Technology Innovation Center Co., Ltd. was wholly established.

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After completing the association registration this time, Wahaha Ventures will be able to directly participate in the PE/VC business as a GP, and the group is expected to find new growth points. Wahaha is not a listed company. In a previous interview, Zong Qinghou once revealed that Wahaha had 15 billion yuan in bank deposits and sufficient cash, so there was no need to go public.

Massive information, accurate interpretation, all in Sina Finance APP

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