多维资本走进第十年：做全球化时代的「跨体系产业架构师」

Core Insights - The article discusses the evolution of China's primary market over the past decade, highlighting a shift from a "gold rush" mentality to a focus on "deep cultivation" in the industry, with 2016 marking a pivotal year in this transition [1][3] Company Overview - Multi-Dimensional Capital was founded in 2016 by Cao Fangning, who left Roland Berger, a top consulting firm, to focus on cross-border mergers and acquisitions (M&A) rather than following the trend of quick returns in the internet sector [2][3] - The firm has completed over 300 transactions with a total transaction volume of 55 billion RMB, serving more than 500 companies and managing seven specialized investment funds as of 2025 [5] Market Dynamics - The landscape of cross-border M&A has shifted, with traditional financial advisory (FA) models struggling to adapt to the complexities of new technologies and geopolitical changes, creating opportunities for firms like Multi-Dimensional Capital [3][4] - The rise of hard technology and the need for deep industry understanding have redefined the rules of engagement in the primary market, moving away from simple matchmaking to complex transaction structuring [4][5] Competitive Advantage - Multi-Dimensional Capital differentiates itself by not just understanding financing but also by comprehensively grasping global technology paradigms and aligning them with China's industrial realities [4][11] - The firm positions itself as a "translator" between different capital systems, helping companies navigate the complexities of global supply chains and investment landscapes [11][13] Future Outlook - The company aims to evolve into a core infrastructure player in China's hard technology sector, providing a full lifecycle of support from early-stage incubation to later-stage funding and restructuring [30][31] - Multi-Dimensional Capital is focused on addressing the complexities of modern transactions, emphasizing the importance of understanding underlying industry logic and maintaining a long-term perspective in investment strategies [20][26]