The reporter learned from Hubei securities regulatory bureau that recently, Wuhan Shengdao venture capital fund management Co., Ltd. had a number of violations and was issued a warning letter by Hubei securities regulatory bureau. Among them, there are four major problems in many funds managed by Shengdao venture capital, including the promise to investors that the principal will not be lost and the minimum return, as well as the failure of some funds to go through fund filing procedures. Qixinbao information shows that Shengdao venture capital was established in 2016 and is a private equity fund management platform of Wuhan contemporary group. Its investment projects include rampant comics, fresh fruit, hot fitness, Jiangzhong food therapy, etc.
Shengdao venture capital promises breakeven and minimum return
Focusing on large consumption and investment in high-tech industries, Wuhan Shengdao venture capital fund management Co., Ltd. (hereinafter referred to as "Shengdao venture capital") was established in June 2016. It is a private equity fund management platform under Wuhan contemporary group. Its investment in love fitness was financed by Xiaomi and Shunwei capital in round C last March.
However, a major event has happened to Shengdao venture capital recently. There are mistakes and violations in its managed funds, and it was recently issued a warning letter by Hubei securities regulatory bureau.
According to the investigation of Hubei securities regulatory bureau, Shengdao venture capital has four major problems: the managers fail to fulfill their duties and fulfill the obligations of honesty, credit, prudence and diligence; Some fund products have not gone through the fund filing procedures; There are several funds under management that promise investors that the principal will not be lost and the minimum return; Failure to timely fill in and regularly update the relevant information of managers and employees, as well as the investment and operation of the managed funds.
According to the provisions of the Interim Measures for private placement fund management, the investors shall not pay attention to the capital loss of private placement fund or promise to sell the fund to the outside world, and the fund manager shall not pay the least attention to the capital loss of private placement fund according to the provisions of the interim measures for private placement fund management.
It is reported that Shengdao venture capital mainly focuses on holding investment transactions, supplemented by equity investment transactions. According to the data of qixinbao, it previously maintained an associated relationship with Shenzhen Tiannuo chuangying enterprise management center (limited partnership) and Hubei Bonan Technology Co., Ltd. and was listed as an abnormal operation due to the failure to publish the 2019 annual report within the specified time limit and the inability to contact the registered residence or business place. However, the reporter did not find a specific list of sub fund management, or only the private equity fund management platform of contemporary group.
investors' psychology of "delay loss" is not desirable
For the promise of breakeven and minimum return, the aforementioned investors admitted that they also made use of the psychology of investors. "There are risks in investment, so if investors can eliminate their expectation of investment loss, some people will believe it, because people generally have the psychological deviation of 'delay loss'."
The aforementioned investors admitted that although some investors will write the agreement into the contract, they can sue if necessary. "But it depends on how the contract is agreed. It does not rule out that the court does not support the legitimacy of the so-called bottom guarantee or bottom-up clauses."
In March this year, Shengdao venture capital was sued by relevant parties for private lending disputes. The defendants also included Ningbo Meishan free trade port contemporary Shengshi Investment Management Co., Ltd., a wholly-owned subsidiary of Shengdao venture capital and an enterprise established around 2016.
Shengdao venture capital also further develops its subsidiary business through similar institutions, involving financial businesses such as investment consulting, financing guarantee, customer financing and collecting (financing) funds from the public. However, according to the current project statistics of Shengdao venture capital, only 12 enterprises are listed on the official website, including Jiangzhong food therapy, runaway comics and so onP align = "center" picture from: screenshot of Shengdao investment official website
Among them, Jiangzhong food therapy was invested by Shengdao venture capital in 2017, which is a holding investment; Runaway comics invested in 2017 and participated in its round D financing at that time. Runaway comics is a well-known secondary community and animation brand in China. Generally speaking, the invested projects are invested by RMB funds.
In addition to the problem that Shengdao venture capital was issued by Hubei securities regulatory bureau, for attracting investors to invest in funds, some insiders said that although the threshold of private investment is very high, there is a "group" purchase in the industry.
"In a disguised way, small funds are integrated into 'big' funds through private group. Instead of dispersing risks, small investors are allowed to bear risks they cannot bear." On May 23, some people in the investment community said during the wechat exchange with the reporter of the daily economic news that similar practices were not compliant and violated the original intention of raising the threshold.
In fact, limited by the setting of investment threshold, the purchase threshold of private equity funds mostly starts in millions, but according to insiders, such restrictions can be avoided through group purchase, but this practice is not compliant.
