Niu(US:NIU) 创业家·2025-11-25 10:40Core Insights - The article highlights the journey of a successful investment in NIU Technologies, emphasizing the importance of supporting entrepreneurs through challenges and the long-term commitment required in venture capital [1][35]. Investment Journey - In 2014, a meeting was arranged with a team led by Li Yinan and Hu Yilin, who aimed to disrupt the electric vehicle industry with a high-end smart electric scooter [2][3]. - The initial market for electric vehicles was focused on low-end products, characterized by noise and short battery life, while the team aimed to address consumer demand for premium products [8][9]. - The investment of 5 million yuan for a 10% stake was made based on the belief that a high-quality product deserves a premium price [10][12]. Challenges Faced - Following a successful crowdfunding campaign that raised 72 million yuan, the company faced a crisis when Li Yinan was detained for insider trading, leading to investor withdrawals and financial instability [16][18][19]. - The company was on the brink of collapse, but the investment firm stepped in with 100 million yuan to stabilize operations and secure the supply chain [22][23]. Recovery and Growth - The firm facilitated a successful A+ round financing of 30 million USD, which helped the company recover and continue its operations [25]. - In 2016, the company was advised to enter the European market, where it successfully sold scooters at 18,000 yuan each, significantly improving profitability [30]. Long-term Vision - The investment philosophy emphasized the importance of patience and support for entrepreneurs, leading to the eventual successful IPO of NIU Technologies on NASDAQ [30][39]. - The experience reinforced the belief that investing is not just about financial returns but also about nurturing the dreams and resilience of the team behind the product [35][36].