Nine years in, stronger than ever. Welcome to FreeS Fund — let's go further together.

峰瑞资本峰瑞资本·August 22, 2024

Looking forward to having you on board.

**/ 01 / ** We're 9 Years Old~ On the evening of August 16, after the rain cleared and the sunset painted the sky in gorgeous colors, we celebrated FreeS Fund's 9th anniversary together.

During the games, we were randomly split into four teams. The four team leaders came up with these names: "Let's See," "Neutral to Negative," "Support," and "Wholehearted." You can probably guess — the first three came from our investment team, the last from our portfolio team. Out on the lawn, we had a blast playing water games; the relaxed vibes came naturally. As the band played, the anniversary dinner began. Colleagues made their entrance in different Olympic "competition uniforms," riding the wave of post-Paris Olympics energy. Table tennis, badminton, tennis, volleyball, shooting, boxing, triathlon, shot put & discus, javelin, golf, cycling, marathon... Behind this diverse mix of choices, beyond personal preference, there was perhaps a game rule at play — whichever "sport" had the most "athletes," all of them would face a penalty. So "non-consensus" turned out to be the "safe bet." In the end, three colleagues in badminton gear and three in tennis gear took the stage together. Their "little punishment": donning beer-mug-shaped costumes and joyfully "clinking cups."

At dinner, Feng Shu (our founding partner Li Feng) shared a blessing from a friend: "The power of spin finds its footing in a tiny space; the peak of balance plays out beneath left and right." This speaks of the spinning top. In a sense, a top spins fast and tirelessly; to spin steadily, it must master balance. Early-stage investing is much the same. We need to act with energy, yet also strike the right balance between returns and risk.

We thanked our colleagues for their enduring passion for the work, and also celebrated birthdays for the fund and our Leo colleagues. Under the moonlight, we shouted together: "Happy birthday, may we grow stronger with time."

"Nine" (九, jiǔ) sounds like "long-lasting" (久, jiǔ). We believe that only by growing stronger with time can we ride through cycles.

Like a comma, we look forward to continuing the story of time with friends who support us — doing what's right, not what's easy. (P.S. There's a giveaway at the end.)

**/ 02 / ** Come Join Us

We'd like to invite more friends to embark on our tenth year together.

Early-stage investing means exploring the business world with curiosity, and casting votes for the future you want to see. If you have an industry background and are interested in early-stage investing, we'd love to have you.

Together, we'll unearth valuable companies and accompany them as they grow into great companies that deliver both commercial and social value. Please send your resume to hr@freesvc.com

**/ 03 / ** So Much Recognition to Be Grateful For

Since March 2024, we've been honored to receive nearly 50 awards.

Among the nearly 30 awards given to the firm, over 10 recognized FreeS Fund's overall capabilities. Keywords from these awards include "Best Early-Stage," "Best Returns," "Most Active," "ESG Pioneer," and more. In specific investment areas, our healthcare investments drew attention from industry and specialized medical media; our practice in hard tech and AI also continued to earn recognition.

FreeS Fund's investment professionals received about 20 awards. Those recognized included not only Feng Shu, but also our partners and senior leadership. This is an affirmation of our team's growth.

Special thanks for all this encouragement and support.

Giveaway Thanks to every friend who's been with FreeS Fund. We welcome you to leave a comment at the end with anything you'd like to tell us. The 9 most heartfelt comments will each receive a blind-box book set from our recommendations (2 books per set).

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