chapter 12
Angel investor
<11>
Thursday, January 17, 2019, 09:16 am.
wearing a thick coat. And Hyeon-jun, who was heading to school by train, was lucky to sit in a seat near the entrance, and while looking at his smartphone for a while, he suddenly received a text message.
Professor Bae Sang-gi, who doesn’t use KakaoTalk itself. He sent a text message directly.
[Professor Choi. Do you have some time around 10 o’clock today? MG Twelve director Byeong-Seok Jeon is coming to school. I also got a call from you all of a sudden. I would like to see it together…]
MG Twelve Private Equity Fund.
This is a private equity fund that directly participated in the Series-C stage investment.
New Drug NS Science has already attracted Series-C stage investment, and preliminary work for an initial public offering (IPO) is progressing steadily.
Hyunjoon immediately sent a text message.
[professor. I’m on my way to work right now, I’ll go to the conference room on time]
Then Hyeonjun checked the time again.
Perhaps this meeting will blow up all morning hours. So, Hyun-jun accessed the school account email with his smartphone and checked the receipt.
A total of 30 emails received overnight. However, just by looking at the sender of the email and the subject of the email, you can immediately analyze whether it is okay to delete it without reading it or whether you need to read it more carefully.
[We’re seeking new research]
[Contribute your research]
[REMINDER! tiny hearts lecture series]
[13th international symposium on new biological strategy]
[professor! We will help you establish medical insurance for study abroad years […]
[High throughput gel shift assay: TF filter…]
Spam mails of this type were deleted immediately without clicking, and a total of 6 mails remained.
Two emails from the Society.
One email to remind you to attend a meeting related to the screening of national research projects that will be held in the conference room of the Ocean Hotel in Seoul from 2:00 today.
One e-mail announcing the convening of a meeting of the Liberal Arts Course Improvement Committee.
An email from a professor at Stanford University, USA.
One email from an undergraduate student asking for counseling from a professor.
Without deleting a total of six emails, Hyeon-joon took a closer look.
In other words, today, from 10:00 in the morning, I have to go into the meeting of Professor Bae Sang-gi, and after that, I have to hurry up and organize various things, and I have to digest the schedule of moving to the Ocean Hotel around 1:00 in the afternoon. I also started organizing emails again.
E-mails from academic societies and school conferences were read roughly, and e-mails from undergraduate students were answered immediately. I reply that it is difficult today because I have a lot of schedule, so let’s have a consultation tomorrow.
but what about this
E-mail of a professor at Stanford University, USA.
It was an e-mail sent directly by Hyun-joon’s postdoctoral advisor.
So Hyun-joon has no choice but to be a little more concerned.
#
“Ah, Professor Choi! How have you been?”
Jeon Byeong-seok, director of MG Twelve (MG12) Private Equity Fund, who arrived at the conference room first, stood up right away while talking with Professor Bae Sang-ki.
It’s a very pleasant voice.
Hyeon-jun smiled and approached and shook hands with director Jeon Byeong-seok, and asked how he was doing in the same way. However, I asked for my regards in a slightly different way.
“Director. You seem to be very busy these days, right? You look very tired.”
Come to think of it, director Byeong-Seok Jeon has a few red blisters growing around his lips.
The skin also looks dull. But he grinned and shook his hand.
“no. it’s okay. Professor Choi. I’ve been working overtime for a few days, so I guess my immunity is a bit low. Haha, I can’t lie about my age anymore.”
Jeon Byeong-seok, director in his mid-50s.
He is a so-called investment expert with a lot of bones in venture investment. In the meantime, we have made several successful investments, and recently, after the listing of the IT venture [Hustek], we even built up a pretty amazing exit (recovery of investment) performance.
In other words, right after [Hustech] was listed, the entire investment was recovered, and at this time, the return rate was more than three times higher than the original investment.
“Then, sir. There are several gongjindans in my room. Would you like to have one?”
At this time, Hyeonjun spoke to me as a joke. However, director Jeon Byeong-seok’s eyes are widening right away.
“professor. Is that true? Do you have a resonant diagnosis?”
Director Jeon Byung-seok shows his curiosity right away.
Gongjindan is an oriental medicine that is effective for chronic fatigue and overwork. Wiyeoklim, who was a Chinese name. He made it from musk, a special substance secreted from the sac of the male musk deer, and it became a very popular drug.
“Hey. Professor Choi. Is that between us? Can you give me one too? while having such a good I’m just getting frustrated.”
Unexpectedly, even Professor Bae Sang-ki showed interest and spoke up, and Hyeon-jun had no choice but to reply. Come to think of it, Professor Bae Sang-gi also has red blisters protruding here and there around his beard. Everyone seems to be having a hard time.
“Then I will bring you two. Please wait.”
Hyeon-jun left immediately, stopped at his office, took two Gongjindan tablets, and returned to the conference room.
A friend I met by chance a few months ago. I got a present from him. His friend from high school, he graduated from oriental medical school and is currently opening an oriental medicine hospital.
#
“Oh, that sucks. It suddenly opens my eyes.”
Director Jeon Byeong-seok exclaimed as soon as he ate Gongjindang. However, looking at him like that, Hyeon-jun and Professor Bae Sang-ki laugh quietly.
It’s kind of a placebo effect.
However, not long after the meeting started, Professor Bae Sang-ki is also surprised.
It really felt like my head was clear and my eyesight was clearer.
Since it was properly formulated, the effect was excellent.
“Hmm. I depend on this. Did Chinese medicine have this effect? Professor Choi! Shouldn’t we also make a medicine like Gongjindan?”
“Yes? Greater than you think, right? Two professors! Rather, why don’t you go with me and find an oriental medicine hospital that makes a good gongjindan from now on? I would like to make an investment.”
As such, Professor Bae Sang-gi and Director Jeon Byeong-seok, exchanging jokes, all looked satisfied.
After that, the business meeting was held again, and fortunately the meeting ended in about an hour.
In fact, this meeting is a meeting to hastily check the problems that suddenly popped up in relation to the initial public offering (IPO).
Currently, [New Drug NS Science] is nearing the stage of submitting an application for preliminary review for listing. In fact, if you submit an application for preliminary listing review to the Korea Exchange, the review will take about two months. After that, if it passes the stringent preliminary screening, it can be listed on the KOSDAQ in about a month or two after going through the public offering process.
In other words, stock listings were becoming more and more visible.
Meanwhile, after the meeting, Hyun-jun immediately checked the time.
11:07:36 am.
Fortunately, the meeting ended quickly, but since there is a task screening meeting at the Ocean Hotel from 2:00 PM, Hyun-jun is pressed for time today.
So Hyun-joon greeted Professor Bae Sang-gi and left the conference room immediately, but at this time, he was unexpectedly lightly restrained by Director Jeon Byeong-seok.
“Hey, Professor Choi. Do you have some time now?”
“yes? What are you doing?”
“Well, I’d like to discuss the details in Professor Choi’s office, would that be okay?”
Hyunjoon thought for a moment and then readily agreed.
The two immediately moved to Hyun-jun’s professor’s office.
#
“Haha, I ate really well at Gongjindan earlier. The medicine teeth are really good. ha ha ha.”
Director Jeon Byeong-seok, who laughed and got lucky, thanked Hyun-joon again for serving him coffee.
Then, taking a sip of hot coffee, he quietly brought up another story.
“Professor Choi. Have you ever heard of this story? Money rolls money… Well, since I continue to earn my living in the investment side, now I can get a reasonable estimate of money if I look at anything. So, wait! Professor Choi. Please take this first.”
Director Jeon Byeong-seok then took out a shiny golden business card from his suit pocket and handed a business card to Hyeon-jun.
Hyeon-joon politely received it and looked at it. It was an unexpected business card.
JBS Financial
CEO Jeon Byeong-seok
It reads like this.
By the way, director Jeon Byeong-seok is currently a member of MG Twelve Private Equity Investment Fund.
“It is my personal company. After this MG Twelve case is over, I’m going to go on my own. The company’s funds currently secured are also substantial.”
“Then what about this company?”
“yes. It is an angel investment fund. It’s still weak, but I think I’ll raise about 300 billion won in funds. Well, after doing this for the rest of my life, there are some people who believe in me.”
But why the heck is he saying this?
So Hyun-joon continued to listen to him.
“Professor Choi is well aware of this, but isn’t the position of professor always like that? If you want to do something, the infrastructure is so good that you can fly higher. If you want to live comfortably, isn’t it a professor’s position where you can live without poverty? I’ve seen it since last year, but Professor Choi is young, but my intuition seems to be the former.”
Therefore, Hyeon-jun is not a person who wants to live comfortably and comfortably.
“So, Professor Choi. How about starting a company with me? Of course, it’s too early, so there’s nothing and the foundation is lacking. Wouldn’t it be nice to be able to secure something step by step? The infrastructure of Daemyung University is top-notch in Korea, and since you participated in Professor Bae Sang-ki’s company, you must have accumulated some know-how. How is it?”
“Director… I’m sorry, but I’m still…”
At this time, Hyeon-joon looked at him with a little embarrassment because it was a proposal he had never thought of.
“professor. As you know, partners are the most important in entrepreneurship. The reason Professor Bae Sang-ki’s company is about to go public is because Professor Bae made a big decision. Of course, Professor Choi is well aware that Professor Bae Sang-gi has a very salty personality.”
That’s it.
“You can’t do a company with a distribution like that. If you hold the stake tightly in your hand and hold it so that no one will take it away, you will just become a piece of shit. A lot of professors are starting their own businesses these days, but the majority of them fail because they have weak sales skills. If you hold a 50% stake, it will be like your own company and you will make a huge profit. If it was like that these days, it would be just a piece of paper.”
“…”
“Pharmaceuticals and bio are especially so. This game is just a gamble. If it goes well, it will be a great company technically, but how easy is it? professor. First of all, establish a company and build up step by step. How is it?”
However, Hyeon-joon can’t answer “yes” hastily at this time. This kind of thing isn’t normal. It’s because you can’t trust people especially in big things like this.
In other words, if you succeed, you can be praised as a great business operator or investor, but if you fail, isn’t it the bottom that you fall into a former criminal of fraud and embezzlement?
“Then think about it. If it’s okay, I will actively help you as an angel investor, starting with the Series-A investment. Of course, as an accelerator, we will actively help you go beyond Death Valley for each series.”
Director Jeon Byeong-seok, who finished the proposal, left the professor’s office after a while.
And Hyun-joon pondered for a while.
There is no suitable theme yet.
However, I was already offered to start a company. In fact, it is said that angel investors usually start investing preemptively by looking at people, not just technology.
What kind of feelings do you have for yourself to do that?
Just trying to cheat?
However, if you are in the position of director Jeon Byeong-seok, there is no reason to do so at all. It is said that the annual salary alone, including the incentives he is receiving from the company, is more than 5 billion won. There is absolutely no reason for such a person to cheat on himself.
I don’t know.
I do not know.
I don’t know yet.
Hyeon-jun immediately gave up his thoughts and started working on his own.
And time passed quickly after that.
At 1:00 PM, Hyeon-joon hurriedly came out of the professor’s office.
I walked through the snowy white landscape of the campus.
Upon arriving at the entrance of a nearby subway station, Hyeon-jun started to walk a little busier.
But true!
Among the presenters for today’s screening task, Professor Park Yu-jin could be included.
Mmm.
Anyway, it’s something to know when you go to the screening room.