我投过不少项目，小牛电动最让我刻骨铭心。 这不仅是 200倍回报的成功案例 ，更是一段从患难与共到并肩登顶的修行。 2014年夏天，明势资本的创始人黄明明给我打电话，说有个能颠覆电动车行业的团队要见我。 在中关村的一家咖啡馆里，我见到了 李一男和胡依林。 一男是行业里公认的技术大牛， 依林 带着他手绘的电动车设计图。 聊了不到半小时，我就断定，这事能成。 吴世春 梅花创投合伙人、黑马加速导师 当时的电动车市场，多主攻低端市场，噪音大，续航短。 而他们想做的智能高端电动车，正好击中了消费升级的痛点。 这不就是下一个小米的机会吗？ 我 当场就拍板，梅花创投投 500万 ，占10%股份，我要做他们最早的投资人。 但我坚决反对，好产品就得配好价格。 用松下电池、博世电机，把续航做到行业第一， 3999元的定价才能立住高端定位。 我还跟他们说，初期可以亏着卖，靠规模效应打穿成本。 这是互联网产品的成功逻辑，在电动车行业同样适用。 2015年6月，小牛 N1的众筹，最终筹得7200万，刷新了国内纪录。 可谁也没想到，产品发布才一天，一男就因涉嫌内幕交易被刑拘。 消息一出，原本谈好的投资人全撤了。 公司账户余额即将见底，团 ...

Core 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].

以下文章来源于快刀财经 ，作者快刀财经编辑部 快刀财经 . 欢迎关注这个洞察商业真相的公号。快刀财经，商业快媒体、思维孵化器、价值试验场和洗欲中心。 作者：朱末 来源：快刀财经（ID：kuaidaocaijing） 在两轮电动车的江湖里，一直流传着"南雅迪、北爱玛"的传说，但除了这两者之外，还曾有 个"另类"凭借一己之力，将整个市场搅得天翻地覆。 它就是小牛，凭借出色的颜值，以及一系列的产品创新，小牛成为中高端"小电驴"厂商的代 表，人称"电驴界爱马仕"。 小牛电动的成绩有多彪悍？成立仅4年就跑进了纳斯达克，被资本市场认可的速度之快，足以 羡煞一众前辈，要知道，比小牛电动早18年进入两轮电动车市场的雅迪，等了20年才挂牌上 市，另一家老牌厂商爱玛，则苦等了22年。 上市后，小牛电动的股价更是涨幅惊人，在2021年冲到了53.38美元的最高点，总市值为41亿 美元。不但如此，这一年，小牛电动的业绩也创了历史新高，营收高达37.05亿元，同比增长 51.56%；净利润达2.26亿元，同比增长33.9%，年销量突破百万辆。 然而，好景不长，随着市场竞争加剧，小牛电动逐渐后劲不足，2022年及2023年连续两年销 量 ...