Spend Your Summer Mastering VC Skills | "Fengshen Rankings" Season 3 Recruitment

Our internal joke name for it — the "FreeS Deity List" — is now entering its third season. This time around, we're looking for 3-5 young, curious North America-based interns to join us this summer at FreeS Fund's Beijing office.

Two main reasons we're launching Season 3.

First, whether you're bullish on consumption upgrading or downgrading, we believe everyone is a consumer observer. Strip away the new concepts, buzzwords, and jargon, and consumption ultimately comes down to human nature. It connects to psychology, behavioral science, sociology, and more. We want to explore with insightful young people what Gen Z what, what, and why.

Second, the bond between science and business has never been tighter. More and more technological innovations are leaving the lab for the commercial proving ground. But not everyone can cross from science into business effortlessly. Labs demand perfectionism, controlling every detail. Startups prioritize efficiency, survival, and thriving. We want to give students aspiring to bridge science and business a chance to explore and find their footing.

If you want a summer that's mind-expanding yet grounded — three months to rapidly learn investment logic and understand the frontiers of entrepreneurship — we'd love to have you join Season 3 of the "FreeS Deity List." We believe you'll have a summer that's more than worth it. Details below:

| Focus Areas:

Consumption upgrading, artificial intelligence, advanced manufacturing, biomedicine, new materials and new energy, fintech, and more.

If you've done research or have ideas in other novel or niche directions, you're equally welcome to apply.

| What we're looking for:

• Master's degree or currently pursuing one (or higher), or currently enrolled in business school (MBA);
• Interest in venture capital, with a thoughtful mindset;
• Strong data analysis and research skills; industry or academic research experience preferred;
• Prior internship experience at primary or secondary market investment institutions, or entrepreneurial experience, preferred.

▲ Sharing industry insights with the investment team

| What you'll get to do:

• Work side by side and have face-to-face conversations with founding partner Li Feng and seasoned investors with top overseas university backgrounds;
• Conduct deep-dive research on sub-sectors alongside frontline investors and write industry research reports;
• Attend FreeS Fund's monthly meetings, hearing investment colleagues analyze the cutting-edge industry trends and experience high-growth sectors and companies;
• Participate in project discussions and assist investors with due diligence;
• Visit startups and get up close with the entrepreneurial ecosystem;
• Receive competitive internship compensation, plus beverages, fruit, and snacks that'll make you gain weight.

| Application Guide:

• Summer period (mid-May to September), intern at FreeS Fund's Beijing office for 3 months or longer; timing can be adjusted slightly based on your schedule;
• Please submit your resume (Chinese or English both acceptable) before April 15 to hr@freesvc.com. Email subject line (in Chinese) should follow this format: Name + School + Research Focus, e.g.: Zhang San + Stanford University + Artificial Intelligence;
• We want to understand your thinking about industries better — please attach a recent research proposal or your most satisfying paper or research report. You may refer to The Origins and Future of the ICO Bubble and Hit Snack Food Report;
• If you have any questions about the internship program, feel free to contact chenfeng@freesvc.com.

| What past interns say:

Chuhan Zong

Through writing industry research reports, reviewing deals with investment managers, and visiting startups, I realized that VC is a process of growing together with portfolio companies — it requires not just rational thinking but also an idealistic spirit.

Chen Zhang

I came in with a "let's just try it" attitude, and ended up having the most meaningful holiday. Even as an intern, I had frequent opportunities to discuss industry hot topics and the future with investment managers, and even with Uncle Feng. These experiences gave me deep understanding of different industries and technologies from both macro and micro perspectives. I returned to school life with substantial gains, and will miss the wonderful times at FreeS.

Zhengyuan Pan

FreeS gave extraordinary meaning to my holiday this year. FreeS's open, transparent environment let me understand how VC works, from fellow interns up to investment managers and Uncle Feng, with zero distance. Thank you, FreeS, for this boost on my growth curve!

Chen Luo

At FreeS, every first experience is one that pushes you out of your comfort zone. Being able to view an industry, a project, or a perspective from a certain height — this kind of elevation is incredibly valuable for a soon-to-be graduate preparing to enter the workforce.

FreeS's atmosphere is light and transparent; there's no barrier to communicating with colleagues and seniors. What I learned from chatting with my mentor: investors need their own independent thinking, judgment standards, and investment logic. Summarizing from experience and validating in practice — it's itself a complex and thrilling treasure-hunting strategy game.

I was also deeply impressed by visiting Taihu Incubator and speaking with three founders of portfolio companies. The three outstanding founders had very different personalities, but the pioneering drive in their eyes was remarkably similar.

Shenliang Wang

Thank you, FreeS, for opening the door to China's venture capital world for me. They opened up investment analysis meetings, where everyone shared their views and vividly explained investment logic through case studies. FreeS has a distinctive investment style, the boldness and sincerity to lay everything open for interns, an equal and approachable team, dedicated industry experts, and impressive peers to grow alongside.

Haowei

My impressions of FreeS: 1. Professional team; 2. Clear division of labor and structure; 3. Harmonious atmosphere, positive and upward-looking.

Personal gains: Through my internship at FreeS, I gained insider knowledge of the VC industry and understood which areas I should improve. I hope to have the chance to join or participate in the FreeS family again!

We look forward to smart, reliable you joining Season 3 of the "FreeS Deity List." Please submit your resume (Chinese or English both acceptable) before April 15 to hr@freesvc.com, with email subject line (in Chinese) in the format: Name + School + Research Focus. We'll be waiting!

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FreeS Fund

Founded in 2015, FreeS Fund focuses on early and growth-stage investments, with core directions in consumption and deep tech. We take a long-term view, are research-driven, and are committed to discovering innovation and the extraordinary, while accompanying entrepreneurs on their journey.

In consumption, we invest in companies that make life better. Our portfolio includes Three Squirrels, Uber Global, Shunshun Liuxue, 2:10 Animation, Tingjiandan, Xinliangji, Qingqing Jiajiao, Huasheng Haoche, Guoxiaomei, Onion Math, VPhoto, Zhi Guan, and more.

In technology, we bet on forces driving industrial upgrading and the application of technology in vertical domains. Our investments include Unity, QingTao Energy, SoundAI, NextVPU, Zero Zero Robotics, IceKredit, XtalPi, Calterah, and other cool companies.

Founding partner Li Feng is a former IDG Capital partner, and led investments in Coinbase, Ripple Labs, CreditEase, Bilibili, Zhubajie, NYSE: LAIX, Helijia, and other outstanding startups.

➤ www.freesvc.com

A great workplace is one with a bunch of super awesome colleagues.

A group of smart, reliable, driven, and curious teammates looks forward to working with you.