Wanda; Wang Sicong

Wang Sicong Is Not A Simple Fuerdai

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Born in 1988, Sicong received elite educations from a young age. He attended primary school at Swiss Cottage in Singapore, high school at Winchester College and university at University College London in the UK. Back from the UK, he became the director of the Wanda Group but was not responsible for any interior affair.

 

In the morning of August 2nd, 2011, Sicong announced on Weibo that he would strongly enter the e-sports domain and integrate them. Given five hundred millions from his father Wang Jianlin, Sicong invests a small private company Prometheus Capital, and runs a gaming company called Invictus. The five hundred millions PE Fund in the first period has been invested into four projects: GDC, Forgame, Nine Top Group and Wuxi Hygood New Technology Limited. He then purchased the CCM team and changed the name CCM to iG. According to the official introduction,  the goal of iG is to build the world’s top gaming club. At present,  iG has integrated the former CCM gaming club Dota, StarCraft 2 (SC2) and all members of the League of Legends (LOL) project.

 

Wang Sicong’s investment highlights on the management of Prometheus Capital. At present, Prometheus Capital has some achievements in the game market. It has continuously harvested two IPOs, with Forgame listed on HKEx and IDreamsky listed on NYSE respectively. It is reported that only the investment in iDreamShy Games has brought  five million dollars profits for Prometheus Capital. On July 22nd , the 4th DOTA2 International Tournament was held in Seattle. The Newbee team from China got the championship finals and exclusive 5,020,000 dollars prize. It hit the record of the highest tournament prize.

 

According to China Venture Annual List 2013, Prometheus Capital ranked 43 in China’s best private equity investment institutions Top 50, and 27 in China’s best Chinese-funded private equity investment institution Top 30. It is because of this investment, Wang Jianlin said publicly that Wang Sicong ‘has made a little progress in investment’ in 2013.

 

In an interview, Wang Jianlin states that he won’t ask Sicong about any investment plan. The PE Fund is just for experiment. He would like to see him do business himself for 5 years and be fooled for 20 times. He wants to see whether he can succeed. Wang Jianlin has made it known that he plans to retire at the age of 68 in 10 years and is concerned about succession at Wanda. Will Sicong be the successor of Wanda? The answer Wang Jianlin gave to China’s Talents Magazine last year was, ‘If he can make himself accepted by everyone [at Wanda] in the next five to eight years, he will succeed me; if he doesn’t have that ability, he won’t.’

 

Source:

http://www.ali213.net/news/html/2014-9/113693.html

http://www.ccstock.cn/gscy/qiyexinxi/2014-09-06/A1409933503323.html