Is Shi Zhengrong's investment sensor a coincidence or premeditated?

For Xue Songsheng, the founder of Jiangsu Multidimensional Technology Co., Ltd. (hereafter referred to as “Multidimensional Technology”), the most difficult task of returning to China is to find money. This situation was not changed until Shi Zhengrong, chairman of Suntech Power (STP.NYSE), voted for his first fund.

Shi Zhengrong was almost immediately on the spot and invested in 2007. Xue Songsheng returned from the United States and brought back the fourth generation of magnetic sensor chip technology. After returning home, he served as a professional manager of a well-known multinational company. After stability, he pondered and planned to put this technology into practice, and gradually began to see venture capitalists looking for initial startup funding.

Magnetic sensors, listening is a very professional term, actually in our lives everywhere. Since all things have magnetic fields, the working principle of the magnetic sensor is to determine the direction, displacement, and speed of the object by measuring the magnetic field direction and size of the object.

The magnetic sensor chip is at the top of the industry and the investment is huge. The fourth-generation technology that Xue Songsheng has to do is not simply copying foreign countries, but real original technology, which means high risk.

So when Xue Songsheng preached this technology to others, many people thought after hearing that it was a good technique, and he proposed that he could vote for a few million. Xue Songsheng rejected it. This is different from the start-up capital he wanted. His bottom line is to find 10 million US dollars to start.

At the end of 2009, Xue Songsheng met with Li Chunyi, general manager of Wuxi Lingfeng Venture Capital Co., Ltd. (hereinafter referred to as “Leader Capital”) at a meeting. Li Chunyi was soon persuaded and found Shi Zhengrong to come to a "three-party talks." Although as early as the 1980s, Xue Songsheng and Shi Zhengrong both studied at the Institute of Optics and Mechanics of Chinese Academy of Sciences. Since then, the two have been in contact. However, if it is not this arrangement, Xue may not take the initiative to ask Shi Zhengrong to recommend himself.

The talks were originally scheduled for an hour and the result dragged on for nearly two hours. After a thorough discussion, Shi Zhengrong was almost immediately on the spot: "Old Xue I think you can make this thing. It's also a good thing, but you have to make up your mind to stick to it."

According to sources close to Shi Zhengrong, Angel Investment considers two main points: whether the direction of the industry is correct and the character and ability of the founder. Shi Zhengrong, with the intuition of scientists, judged that the fourth-generation magnetic sensor had considerable technical value and market prospects; Xue Xue's classmate, knowing that Xue had the ability to make chips, decided to invest.

Soon, Shi Zhengrong, Fengfeng Venture Capital and the Zhangjiagang government’s investment funds all arrived. In this way, Xue Songsheng got $12 million in start-up capital.

Tang Qi, Chief Investment Officer of Leadfeng Capital believes that magnetic sensors are ubiquitous in our lives. Its chips are at the forefront of the industry chain. The design and manufacture of chips is the most valuable part of the entire industry chain. Multi-dimensional science and technology of magnetic sensor chip compared with existing products, all performance has a geometric increase in magnitude, the product represents the future of magnetic induction technology development.

Tang Qi pointed out that "multidimensional will have a revolutionary impact on the magnetic sensing industry and its application industries. In addition, the birth of multidimensional technology has responded to the lack of core technologies in the perception layer of China's Internet of Things."

Thus, in May 2010, Multidimensional Technology was officially established. Before long, Multidimensional Technology got the second phase of venture capital. As of December 22 this year, the registered capital of Multidimensional Technology has been nearly 200 million yuan. Today, Xue Songsheng regards Shi Zhengrong as an "elegant" - if Shi Zhengrong did not promise the first angels to invest, Zhangjiagang and Lingfeng may not make investment decisions so quickly.

After losing the team to get the money, Xue Songsheng’s primary problem became recruiting.

The fourth-generation chip that he wants to do, under the premise that the sensitivity is greatly improved compared to the third generation, the power consumption is much lower, the price is not expensive - there is no best team, this product can't do well.

Every change in the magnetic sensor chip technology is accompanied by a great increase in its sensitivity; the higher the sensitivity of the chip, the more accurate the measurement result of the magnetic sensor. Mr. Li explained that the difference between the third-generation and fourth-generation technologies is similar to the difference between the 1 million-pixel and 10-megapixel cameras.

Taking the application as an example, most of the electronic compasses installed in cars and smart phones have only the second-generation magnetic sensor technology. However, magnetic sensors used in pacemakers are generally third-generation technologies. In the pacemaker, the benefits of the low power consumption of the fourth-generation technology have been reflected in the most - under the premise of other accessories, the pacemaker of the fourth-generation chip, due to its low power consumption, its The service life is much longer than the third-generation chips.

The circle of making magnetic sensor chips is not big, just a few big companies. Xue Songsheng knows where to find the best people. The rest is how to dig. On this issue, his idea is very simple: find the best talents, pay the same level of salary as the big companies, and give them a share from his own stock. He said: "They are not working for me. This is their company."

Xue Songsheng and some of the company’s investors have quite different opinions on the question of how much salaries the employee should pay. Investors believe that the team has shares and can make a fortune when it is listed. Therefore, it is not necessary to pay high salaries now. Xue Songsheng admits to reporters: “When the company goes public, I don’t know. I can’t let everyone hungry and work with me for three years and five years! Anyway, how much do I pay? The board has the final say; ,I have the final say."

From the insistence on this matter, Xue Songsheng’s pride can be seen. His arrogance is also reflected in the negotiations with investors - he refused to sign any gambling repurchase agreement. For this reason, many agencies have visited multidimensional technology and returned home. Xue Songsheng said straightforwardly: "I don't know when the company will go public. How do you sign a repurchase agreement?"

The reporter saw a multi-dimensional technology's latest capital increase agreement, which has been covered by the agency's chapter. There are indeed no gambling and repurchase terms.

Xue Songsheng’s idea behind Shi Zhengrong’s approval: “You have done your business well. Naturally someone is asking you to go public; companies are not doing well, and you ask others not to go to the city.”

Currently, multidimensional technology has just produced small batches of products and sold them to dozens of customers for trial.

The aforementioned approach to Shi Zhengrong revealed that multidimensional technology’s recent plan will be to select mid-stream producers with the most intentions and capabilities from among these customers, and to use them as strategic partners to industrialize the fourth-generation chips together and use them downstream. Promotion.