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Managing a $1 billion pre-IPO fund, with Sophie Yao, China General Manager of Pegasus Tech Ventures
Manage episode 271046418 series 1402108
Our guest today is Sophie Yao, the China General Manager of Pegasus Tech Ventures, which some people may know for their notable investments like SpaceX and Airbnb. Sophie currently manages a $1 billion fund that predominantly focuses on pre-IPO deals.
Show Notes:
1:48 Introduction to Sophie Yao
2:59 The CVC 4.0 Model
4:33 Rationale behind corporate partnering with single LP funds
6:58 The $1 billion pre-IPO fund, what it is and why Pegasus invests in pre-IPO deals
8:04 Risks associated with pre-IPO deals
9:46 Pre-requisites in a pre-IPO deal. How do you measure returns?
12:28 Role of the pre-IPO investor in supporting companies
13:40 Evaluating potential investments
16.14 Next wave of IPOs from China
20:58 Revenue vs Technology: What matters more in deep tech investment
23:12 Does investor behavior shape the type of companies in China?
24:36 China’s STAR market and how it has performed so far
26:15 Companies doing well in the STAR market
26:45 Alibaba Ant dual IPO: Inflection point in Chinese companies' perspective on IPOs
28:41 Foreign companies listing in STAR market
29:23 US-China deteriorating relations and impact on internationalization of Chinese tech startups
31:29 Luckin’s impact on the perception of listed Chinese companies
34:36 Lessons for Series A or B founders
36:54 Pegasus’ area of investment and how to contact Sophie
37:53 Pegasus’ Incubation program
Many thanks to our guest Sophie Yao; host Oscar Ramos; producers Eva Shi and Sagar Chaudhary; editor David; organizer Chinaccelerator; and sponsor People Squared. Be sure to check out our website www.chinaccelerator.com
Share, subscribe, review, enjoy!
Follow us on LinkedIn: www.linkedin.com/company/the-china-startup-pulse/
Email us: [email protected]
180 episodes
Manage episode 271046418 series 1402108
Our guest today is Sophie Yao, the China General Manager of Pegasus Tech Ventures, which some people may know for their notable investments like SpaceX and Airbnb. Sophie currently manages a $1 billion fund that predominantly focuses on pre-IPO deals.
Show Notes:
1:48 Introduction to Sophie Yao
2:59 The CVC 4.0 Model
4:33 Rationale behind corporate partnering with single LP funds
6:58 The $1 billion pre-IPO fund, what it is and why Pegasus invests in pre-IPO deals
8:04 Risks associated with pre-IPO deals
9:46 Pre-requisites in a pre-IPO deal. How do you measure returns?
12:28 Role of the pre-IPO investor in supporting companies
13:40 Evaluating potential investments
16.14 Next wave of IPOs from China
20:58 Revenue vs Technology: What matters more in deep tech investment
23:12 Does investor behavior shape the type of companies in China?
24:36 China’s STAR market and how it has performed so far
26:15 Companies doing well in the STAR market
26:45 Alibaba Ant dual IPO: Inflection point in Chinese companies' perspective on IPOs
28:41 Foreign companies listing in STAR market
29:23 US-China deteriorating relations and impact on internationalization of Chinese tech startups
31:29 Luckin’s impact on the perception of listed Chinese companies
34:36 Lessons for Series A or B founders
36:54 Pegasus’ area of investment and how to contact Sophie
37:53 Pegasus’ Incubation program
Many thanks to our guest Sophie Yao; host Oscar Ramos; producers Eva Shi and Sagar Chaudhary; editor David; organizer Chinaccelerator; and sponsor People Squared. Be sure to check out our website www.chinaccelerator.com
Share, subscribe, review, enjoy!
Follow us on LinkedIn: www.linkedin.com/company/the-china-startup-pulse/
Email us: [email protected]
180 episodes
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