Nanoleaf Releases Second Generation LED Energy Saving Light Bulb Li Jiacheng Finds Mainland Partners

The Chinese richest man Li Ka-shing is keen on investing in technology companies that have long been known to the outside world. His private equity fund, Victoria Harbour Investment, has been striving for a low-key over the years. However, this year is different. Li Chaoren changed the style of “smuggling and making a fortune” in the past, and frequently promoted the company in the media. In recent months, he was led by his confidante Zhou Kaixuan to lead the tour in the Mainland. The market paves the way.

Nanoleaf, the company that designed the world's most energy-efficient LED bulbs, was one of the lucky ones. Li Ka-shing praised Nanoleaf's ideas when he was interviewed by the media in the beginning of the year, and even personally put together a Nanoleaf bulb. It quickly became popular in the Mainland.

On July 14, Nanoleaf released its second generation of products on the US crowdfunding platform Kickstarter, which has been around for four years. The two founders of Nanoleaf have revealed that Nanoleaf's new products have added the function of mediating light and darkness, further enhancing the energy saving space. The second-generation bulbs are priced at $40 each, and now Kickstarter is sold for 60 days, and mass production can begin next month. They are looking for partners in mainland China.

The “Li Ka-shing effect” has raised the popularity of Nanoleaf and attracted the attention of many investors, but the two founders unanimously insisted that “money is not important and philosophy is more important”. But the task now is to find mainland partners and achieve entry into the mainland market this year.

After three 80 impulse <br> <br> a mature, a clever shrewd, plus a technical house, three young people after 80 struck a spark is Nanoleaf. The three people mentioned here are the three founders of Nanoleaf, Gimmy Chu (Zhu Jiayu), Christian Yan (Yan Sicheng) and Tom Rodinger.

All three graduated from the University of Toronto. Three or four years ago, they had a full-time job and they wanted to start a career in the solar field. In the Yinjiao survey of solar energy suppliers, Nanoleaf's research and development soul Tom's eyes were attracted by LED bulbs, and stubbornly decided to give up solar energy. The fate of the three people changed because of Tom's "immediate impulse."

"After Tom had the idea of ​​energy-saving LEDs, we talked frequently and met every week. When I was in China, Gimmy and Tom were in Toronto, we were on WeChat," recalls Christian. In January 2013, Nanoleaf began to raise funds on Kickstarter. Originally, it only wanted to raise 20,000 US dollars, but finally received up to 270,000 US dollars.

Nanoleaf's first-generation bulbs are priced at $35, but in the eight months since launch, the average monthly sales volume has reached 4,000 to 5,000, and Nanoleaf is still in the market test phase. The hot sale that was unexpected to the founders was only the beginning. Next, Nanoleaf ushered in an important time to change the fate - into Li Ka-shing's sight.

Victoria Harbour invested in a month . When the Victoria Harbour Investment discovered us, Nanoleaf was already profitable, so there was no plan to raise funds at the time. Gimmy revealed that Li Ka-shing would donate money to the University of Toronto. Last November, the President of the University of Toronto came to Hong Kong. Visiting Zhou Kaixuan, by the way, mentioning the Nanoleaf project, she immediately became interested in investing in a precise vision. “We were told that Victoria Harbour Investment is willing to help us. There was only one day to prepare.” Gimmy smiled, and the nervous mood was still clearly felt.

Victoria Harbour investment has always been low-key, and how the internal operation is almost unknown. The feeling of the outside world seems to rely on Zhou Kaixuan alone. Li Ka-shing himself revealed that it took only 5 minutes to decide to invest in Facebook, and a total investment of 450 million US dollars has already brought him several times. These legendary descriptions make it seem to outsiders that Li Chaoren's investment is very casual, and he can only make a profit without relying on commercial smell.

In fact, all of the above are "illusions." “The team that invests in Victoria Harbour is very large. There are about three or four people in our team. I have seen several times. The decision-making process is similar to that of other investment companies. Due diligence and round-trips, but it took only one month. We have received funds for Victoria Harbour investment, which is very fast," Christian said. Later, with Zhou Kaixuan, Nanoleaf introduced KPCB funds.

The two founders of Nanoleaf are tight-lipped about the amount of investment because they have to comply with the legal provisions signed. However, it revealed that after getting the funds, it is mostly used for R&D. At present, the engineering team has been extended from the former Tom1 to 6 people. In addition, an automated production line is also being built. Nanoleaf received CE certification for export to the European Union two weeks ago, and there will be more large-scale production in the future.

"In the month of Weigang Investment's due diligence, Li Ka-shing met us. He was very happy that we invented the world's most energy-saving light bulb. It is supported by the heart. He has a strong curiosity about how Nanoleaf's light bulbs are put together. You have to spell one yourself. In fact, the light bulbs are assembled at the factory. Just to introduce the products more clearly, the video of the assembly process will be released," Christian said with a smile. It was Li Chaoren who mastered the assembly method at this meeting and only had the bridge assembled on site at the beginning of the year when he was interviewed by the media.

Shareholder Li Ka-shing's inaction <br> <br> for the management of the harbor investments, the outside world has been rumored, harbor great respect for the creative company founder, has always insisted that only when shot at each other for help. This teaching is proven here at Nanoleaf. Gimmy said that the reason why he is willing to cooperate with Victoria Harbour investment is not only because of money, but because the concept is the same, they also want to change the world, and others let the company do it.

“Wei Hong Kong will not call you every week to ask for information like many small companies. It’s very tight. We will meet often. Many times, we are free to chat. If they need their help, they will find a way. We borrowed them from our office in Hong Kong. Usually, Zhou Kaixuan will send us if we see something interesting," Christian said.

From the founding of Nanoleaf, to the planning of the future, the two founders did not show the exaggerated pride of many entrepreneurs, nor the high-level storytelling skills to promote the product's uniqueness, from beginning to end. Say that the energy-saving light bulbs that you hope to produce can change the world. This kind of calmness and unavoidable must be the best mapping of Victoria Harbour investment "doing nothing". Smart investment not only gives the investment company a relaxed space to create creativity, but also gains trust.

Victoria Harbour investment not only does not intervene in management, "there is no requirement for us to set any return on investment." The two investors said in unison. Without the return of investors as a pressure, Nanoleaf has no too persistent planning to balance profitability and scale, and it is too early to talk about listing. “We will hope that new products will come out every year and will expand into other energy-saving areas in the future,” Christian said.

Nanoleaf's energy-efficient LED bulbs are currently sold primarily in North America and Europe and will be introduced to Hong Kong by the end of October this year. But the two founders are most concerned about finding partners in the Mainland and can introduce Nanoleaf products to the mainland this year. "The key to a suitable partner is that both parties can talk about a good price and know how much Nanoleaf's products are selling in China," Gimmy said with a smile.

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