Group 1 - In 2024, venture capitalists invested over $200 billion in U.S. startups, with an average return on investment of approximately 12%, but 95% of returns were generated by only 5% of investors [1] - Successful venture capital requires a well-defined investment strategy that provides a clear perspective on investment opportunities in specific sectors [1][2] - The investment return distribution in venture capital is not normal; most investments are expected to fail, while a few can yield returns up to 50 times the investment [1] Group 2 - The article focuses on how venture capitalists evaluate specific investment opportunities within particular sectors, akin to deciding which fish to catch in a chosen fishing area [2] - A four-step method is outlined to help investors formulate effective investment strategies, which has been iteratively refined by TDK Ventures over the past five years [1][2] Group 3 - The first step in the investment strategy is to clarify known information about the investment opportunity, including market conditions, technology status, regulations, and challenges for new entrants [3] - In the field of grid technology, key known facts include the rapid adoption of electric vehicles (EVs) and the development of megawatt-level DC fast charging in the U.S. market [4] Group 4 - The second step involves identifying unknown factors that could impact the investment strategy, such as market uncertainties and potential regulatory changes [6] - Uncertainties in the grid technology market include the timeline for the large-scale adoption of solid-state transformer (SST) technology and the verification of long-term reliability of power electronic infrastructure [7] Group 5 - The third step is to outline core viewpoints that, if proven correct, could lead to excess returns, focusing on the unique advantages of the investor [8] - The viewpoints derived indicate that SST represents the future of transformers and power conversion, enabling smarter and more reliable energy distribution [9] Group 6 - The final step is to define the key performance indicators (KPIs) that a company must meet to become a market leader in the sector, ensuring that the investment strategy is evidence-based [11] - A leading company in this space must provide modular, scalable SST systems with low capital expenditure, high reliability, and rapid deployment capabilities [13]
顶级风投，是如何赚取超额回报的？
3 6 Ke·2025-04-29 01:12