Chapter 428 - 220: Scumbags Drive G-Wagens, So What Am I?

When Jinshi Capital officially announced that its first-phase fund had completed an oversubscribed fundraising round, it sent shockwaves through the entire investment world.

Well-connected individuals quickly dug up details about Jinshi Capital.

Its Sect Leader, Lu Fang, came from the top international venture capital firm—Blackstone.

Her resume was impeccable, and she had invested in many super-unicorn companies.

Although Lu Fang’s background was dazzling, pulling off a feat like an oversubscribed fundraising round at a small VC firm that had only been established for a few months was considered a fool’s dream.

Deeper connections were gradually uncovered.

Among the investors in Jinshi Capital’s first-phase fund were many faces familiar to the venture capital world.

Shengxuan Group!

Even investors unfamiliar with this company would have heard the thunderous name of Spicy King, a company it held a controlling stake in.

Any company with the potential to become a super-unicorn would be discussed repeatedly throughout the investment world.

Spicy King’s potential had long been clear for all to see.

In the Southwest Region, it was driving numerous local hot pot brands into retreat.

Its average table turnover rate reached four times a day, and its monthly revenue hit 250 million.

Many venture capital firms gave it a valuation of 5 billion US Dollars, certain that Spicy King would be the next Haidilao.

According to the fundraising information disclosed by Jinshi Capital, Shengxuan Group had contributed 1 billion.

The identities of the other investors were rather mysterious, but there were clues to follow.

Xu Yi, the former CEO of Bilibili; Wang Han, the Young Master of the Junyao Group.

Fu Songyang, the vice-chairman of Ruifeng Steel; and the Jiang Group.

Several major industrial funds from Chengdu also invested, clearly very optimistic about Jinshi Capital.

Wielding 1 billion US Dollars, Jinshi Capital had become a rising force in the investment world that could not be underestimated.

Within the investment world, no one was more shocked than He Yu of Black Ant Capital.

Full of questions, He Yu paid a visit to Qi Sheng.

Seeing Qi Sheng take out a Red Mark Song Pin Pu-erh tea, He Yu was even more stunned.

As a connoisseur, he naturally recognized this top-shelf Pu-erh.

Compared to Qi Sheng’s financial power, his own net worth was utterly insignificant.

"Chairman Qi, you’ve really gone all-in on this crossover. You’re even starting to compete with us for business now."

He Yu took the teacup and looked at Qi Sheng with a wry smile.

"It can’t be helped. I have my eye on quite a few promising projects, but if I relied solely on our own funds, who knows how long it would take to raise the necessary capital."

Qi Sheng said with a smile, "However, Black Ant Capital will soon be able to exit a project. Allow me to congratulate President He in advance on reaping a satisfactory return on your investment."

"Oh?"

He Yu paused for a moment. "Which company?"

"Why don’t you take a guess, President He."

Qi Sheng continued sipping his tea, unwilling to give any hints.

"Let me see..."

Suddenly, a flash of inspiration struck He Yu, and he looked at Qi Sheng in shock.

"Chairman Qi, you’re not planning to acquire Pop Mart, are you?"

"As expected of President He. You’re quick on the uptake."

Qi Sheng dared to say this now because he wasn’t worried about the acquisition price being driven up. Since the system had given an assessed value of 1.8 billion, the acquisition amount wouldn’t change.

"Er..."

He Yu was momentarily speechless, not knowing whether to laugh or cry.

The last time Qi Sheng and Wang Ning met, they parted on bad terms.

As the one who made the introduction, he had been put in a rather awkward position.

Who would have thought that Qi Sheng would be secretly plotting to acquire Pop Mart?

Judging by Qi Sheng’s demeanor, it was clear he was confident he had Pop Mart in the bag. He obviously wouldn’t rest until the acquisition was successful.

With Qi Sheng’s power, if he really went after Pop Mart, Wang Ning wouldn’t be able to hold out.

After all, Pop Mart’s market capitalization was only a little over one billion RMB.

Meanwhile, Qi Sheng was sitting on a full billion US Dollars in ammunition.

The collectible toy blind box market had no real moat to speak of.

As long as you provided the design, a Yiwu factory could produce them for you in minutes.

"Chairman Qi, if I may be so bold, what valuation are you planning to give Pop Mart?"

He Yu had already accepted the fact that Pop Mart would be changing hands; he was more concerned with the return they would get.

"1.8 billion."

Qi Sheng replied without a second thought.

"Not bad. At least for this project, our DPI will be close to 2x."

He Yu was reasonably satisfied with this valuation.

At worst, they could just treat it as a short-term investment product.

Among the projects Black Ant Capital had invested in, Spicy King was by far the one with the most potential.

Based on the typical Series B valuations being offered for Spicy King by outsiders, the DPI from their Series A investment would be no less than 4x.

"As long as you’re satisfied, President He, I can rest easy."

Qi Sheng said, offering pleasantries.

He Yu and his firm might make a small profit from exiting Pop Mart, but compared to Qi Sheng, who was feasting on the meat, they were at best just getting a sip of the soup.

"Chairman Qi, Black Ant Capital will fully support Shengxuan Group’s acquisition of Pop Mart."

"Wang Ning might be reluctant to sell the company. How about I help you arrange a meeting to talk with him?"

He Yu didn’t want to see the two companies fight to the death, only for someone else to benefit in the end.

Business was business, and right now, he was counting on Qi Sheng to make him rich.

Compared to the handsome returns Qi Sheng could bring him, Wang Ning from Pop Mart undoubtedly held a much lower position in his heart.

They were all businessmen; naturally, interests came first.

"You don’t have to worry about that, President He. I believe President Wang will be more than happy to cooperate with the sale of his company."

"Under my leadership, Pop Mart will become the true China Disney."

Qi Sheng couldn’t care less what Wang Ning thought.

The system would make its move anyway, so there was no doubt Wang Ning would obediently sign on the dotted line.

"As long as you’re confident, Chairman Qi. If you need my help, just say the word."

He Yu was also a little surprised.

He hadn’t expected Qi Sheng to be so confident in his ability to persuade the stubborn Wang Ning.