The most sad reminder of the ten case of venture capital do business, don’t play concept

VC Chinese in history, there are a lot of full of blood and tears of the case, such as, etang etc.. What are the lessons learned from entrepreneurs and VC? What are the implications for entrepreneurs and



1, true Kung Fu


enterprise founder Cai Dabiao Kung Fu Reds second jailed for 14 years, intends to auction 41% equity debt zhengongfu. This is bound to be a case in the history of Chinese private enterprises, will also be the case in the history of Chinese VC. Cai Dabiao after the accident, the two sides of the real struggle for the chaos of today’s capital can not withstand the pressure of shareholders, and opt out of.

features: the case of entrepreneurs can not be willing

bitter strife

entrepreneur’s lesson: there is no eternal brother, only eternal interests

Lessons learned from

VC: whether the ownership structure is reasonable is an important basis for judging the quality of the project

McDonald’s and KFC in the domestic popularity of Chinese food chain has been indignant, people have continued to come out to challenge western fast food. From more than a decade ago, red sorghum is now very prosperous real Kung Fu, red sorghum has long been unknown, real Kung Fu seems really a little effort, more and more chain stores.

with the company name, August 2009, "Kung Fu" headquarters in Guangzhou after a Kung Fu Show, in the investment community and business circles a sensation: founder and major shareholder of the company Pan Yuhai appointed his brother Pan Guoliang as "Fu Zong manager", and sent to the headquarters office, but was "Kung Fu", the actual controller chairman Cai Dabiao refused, caused a violent dispute.

to sort out the real effort, the management of contradictions, have to start from scratch. 1994, Cai Dabiao and his friends in Dongguan, Changan, opened a 168 steamed goods store, and then gradually move to the national chain, and in 1997 changed its name to "double seed", and finally changed its name to "real Kung Fu"". Indeed, the ownership structure is very simple, pan Zhen accounted for 50%, Cai Dabiao and his wife, Pan Minfeng (sister of the elder sister) accounted for each of the 25% (). In September 2006, Cai Dabiao and Pan Minfeng agreed to a divorce, and she gave up 25% of her own for a child’s right to support, so that the shares of both Mr and Mrs Cai Dabiao were also turned into 50:50 by, the.

2007 real Kung Fu introduced two venture capital funds: the domestic capital of Zhongshan linkage and foreign capital, a total of 300 million yuan of funds injected, each accounted for 3% of the shares. In this way, after the financing, real Kung Fu, the equity structure into: Cai, pan each accounted for 47%, VC accounted for each of the board of directors, a total of 5 seats, constitute Cai Dabiao, Pan Yuhai,, and VC sent each of the directors of the 1.

after the introduction of venture capital, the company to seek listing, then create a modern corporate governance and governance structure of the enterprise is imperative. But Cai Dabiao’s efforts to build a modern enterprise system touch another shareholder, Pan Yu