After the two shook hands, Park Jin Hyuk said:
"I heard that you went to college in the United States and started your own business after graduation?"
…
The two chatted for a while, and then Luo Minhao said:
"You know what? I'm looking for outside investment. Would you be interested in investing in my company?"
“Investment is an interesting topic.”
Park Jin Hyuk looked at Luo Minhao with interest.
"The company I founded, Xuri System Integration, has developed a project development management platform. Through this platform, developers can manage their projects anywhere in the world. Furthermore, everyone using this platform can communicate and exchange information..."
"I understand. What I want to know now is why you want to introduce new investment?"
If the company is doing well, investors will usually come to you.
Despite preparing in advance, Luo Minhao was still a little nervous about the question raised by Park Jin Hyuk.
Seeing this, Park Jin Hyuk went to the sofa in the corner of the banquet hall with him and sat down.
There were still girls watching them from a distance, but no one came over anymore.
Park Jin Hyuk said to Luo Minhao:
"I'll give you 10 minutes. I hope you can use these 10 minutes to convince me to invest in your company. Please get started."
As he spoke, Park Jin Hyuk relaxedly placed his hands on the back of the sofa.
Luo Minhao said:
"I've been starting a business with my college classmates for two years. We started with our own money, but now that our business direction is becoming clearer, we're planning to bring in external investment for growth."
"How much money do you need?"
"Wouldn't you like to hear me give you a more detailed introduction to our business direction?"
"I want to know the price first. Even if the technology is good, I won't consider it if the price is not right."
Luo Minhao discovered that Park Zhenhe was different from all the investors he had met before.
Previous investors would only talk about the investment amount after listening to his long project introduction, but the investors who were originally very interested shook their heads when they heard the investment amount.
Luo Minhao quickly calculated in his mind how much investment he should make.
Seeing the other party's hesitation, Park Jin Hyuk said:
"Since we can meet here, it is destined to happen. Don't worry, just tell me."
"We're hoping for $10 million in investment."
After saying that, Luo Minhao observed Park Zhenhe's reaction. This investment amount had scared away the previous interested investor.
Park Jin Hyuk's expression didn't change at all.
"Ten million dollars... Although I don't know much about the systems integration business, I do have some knowledge of venture capital."
Recently, when he was discussing the establishment of an investment company with Xuan Yizhu, he talked about how to deal with the remaining funds after investing in Dongjing Industry.
In the end, they unanimously decided to use the remaining funds to invest in startups.
If successful, venture capital can bring very substantial profits.
This is also the reason why he has a strong interest in Luo Minhao.
"After completing prototype production and determining market potential, startups will enter Series A funding, typically between 2 billion (approximately 10.6 million RMB) and 3 billion (approximately 15.9 million RMB). After product sales begin, they enter Series B funding, with funding around 10 billion (approximately 53 million RMB). At this stage, they must decide whether to sell the company or continue operating it."
Park Jin Hyuk continued:
"This is the situation in South Korea... If the company is in the United States, is it in Silicon Valley?"
"Yes."
"In Silicon Valley, you should have already completed your seed round of financing... but you haven't reached Series B yet. If you do, you won't need to come to Korea to look for investors. You should be in Series B right now, right?"
Luo Minhao nodded.
Han Ji-yeon had been listening to their conversation.
"Besides me, have you found other investors?"
"To be honest, I have looked for it."
"I believe your initial request for an investment was more than $10 million?"
Park Jin Hyuk smiled at Luo Minhao. He had guessed right. 10 million US dollars was less than half of what he originally hoped to invest.
As he encountered difficulties in finding investment again and again, Luo Minhao had to reduce the investment amount.
Seeing that Luo Minhao did not answer, Park Zhenhe said:
"It seems I guessed right. I'd like to give you a piece of advice. You shouldn't lower your investment requirements. For someone willing to invest $10 million, $20 million or $30 million is not a problem."
Luo Minhao widened his eyes in surprise.
Park Jin Hyuk patted his shoulder.
"Next Monday, come to my office with your company introduction and project plan. We can discuss this in depth then."
After saying that, Park Jin Hyuk and Han Ji Yeon walked away together.
Han Ji-yeon says:
"Are you planning to invest? Isn't that too hasty?"
Park Jin Hyuk called the waiter over, took two glasses of champagne and handed one to Han Ji Yeon.
“When investing, I prefer to look at people rather than projects.”
"Can you tell what kind of person he is after meeting him for the first time?"
"Yes, I understand. He passed the first interview. We will have a more in-depth discussion next Monday."
Han Ji-yeon couldn't help but look back at Luo Minhao for the first time. It was really unbelievable that Park Jin-hyuk decided to invest after only chatting with him for 10 minutes.
But for Park Jin Hyuk, the value shown by Luo Minhao and his prepared attitude in seeking investment are enough.
Although the young man seemed a little impatient, being aggressive is not a bad thing.
Thinking of this, Park Jin Hyuk was already looking forward to meeting him again.
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