God of Corporate Hunting - Chapter 181



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◈ Episode 181 Silicon Valley Capital (2)

I met with three co-CEOs of Silicon Valley Capital.

Since it is not uncommon for private equity firms or capital firms to be run under a joint representative system, there was no awkwardness.

The three men treated them politely, as if they had heard a word from their holding company, Silicon Valley Finance.

Sitting across from each other in the conference room, Nam Woon-myeong quietly looked into the fate of the three people.

It wasn’t much different from what I expected.

Although they are co-CEOs, Rick Curtis, who has served as CEO for the longest time, is the de facto top leader. He appears to be a sharp, practical person.

Martha Stewart, the only woman, was the youngest. Of course, she was in her late forties.

Tony Heller, the main character, is somewhere between the two in age and power, and his impression is as gentle and kind as he was in the photo.

“I’ve been waiting.”

Rick Curtis extended his hand.

They shook hands, starting with Yoon Se-bin.

As soon as we finished our greetings, we went straight into the meeting.

“As you know, there is no problem with Capital at all. It is just the parent bank that is the problem. It is regrettable that the holding company, Finance, has decided to sell, but what can we do? We have no choice but to accept it. Of course, the issue of the sale price is not our concern, but you are buying it at a very cheap price.”

On behalf of the company, Curtis explained Capital’s position.

Yoon Se-bin answered with a smiling face.

“We know that too. That’s why we’re buying them. However, I’ve heard that liquid funds in the market have been tightening recently, causing many difficulties. The stocks and bonds you hold have become worthless. In that case, the value of your assets will inevitably fall.”

A dark cloud appeared slightly over the faces of the three co-representatives.

“I just heard that you have been managing it well so far. The finance side also gave it high marks. So I don’t plan on making any special changes in terms of management.”

“thank you.”

The faces of the three co-representatives brightened.

Nam Woon-myung noticed that their biggest concern was the succession of employment. And that was his position as an executive. It was not a new thing, as the finance side had repeatedly asked him to do so.

“But even if we acquire it, wouldn’t we have to distance ourselves from the existing Silicon Valley finance group?”

“Yes.”

“However, since we have promised to continue hiring employees, we cannot lay off employees, so how can we reflect our management philosophy?”

“That, that is…….”

The three people’s complexions darkened again.

I couldn’t help but laugh as I watched their expressions change. Heller, the main character in particular, was fidgeting.

“So, for the investments that are starting from now, we would like you to get our final approval and execute them for the time being.”

“That, that’s a bit…….”

Capital’s primary mission is to discover and invest in new ventures early. If the process requires one more step of final approval, the existing management is reduced to a mere figurehead.

Since independent management is impossible, it is inevitable that the existing management will be dissatisfied.

Since this was something that had already been agreed upon with Nam Woon-myung in advance, Yun Se-bin pushed ahead firmly.

“That period won’t be that long. The recent financial crisis has been so severe. Given the nature of ventures, they inevitably lack funds and there is a high risk of hidden insolvency. In times like these, we need to select and support truly promising companies and catch fake scammers disguised as ventures.”

Heller, who had been silent until now, asked in a calm voice.

“Is that possible? That would be greed to always be successful in every investment.”

“I know that it is impossible to make investments that always succeed. If you don’t take risks, you won’t make profits. Anyway, for the time being, we will be the ones to execute the final approval.”

“How long is that period…….”

“Maybe about half a year?”

“Ah! It’s not that long.”

Curtis and Stewart nodded, while Heller looked uneasy.

In a situation where the sale was suddenly made, they could not protest otherwise.

Yoon Se-bin made his final request.

“This will take effect from this time. Please stop all fund transfers from now on, and if you need urgent transfers, please contact me.”

Heller immediately protested.

“You haven’t acquired the capital yet, have you?”

“The actual acquisition will take place three days later. We have agreed to pay the purchase price to the finance company on that day. However, we are wary of any defaults that may occur during those three days. If you execute funds without our knowledge during that time, this sale will fall through, so please be careful.”

Yoon Se-bin immediately tied the hands of the Capital executives.

The three co-representatives could not control their embarrassed expressions, but they did not withdraw the order. They did not dare to refuse Yoon Se-bin’s order.

After the meeting, Nam Woon-myeong and his party looked around the Capital office.

It was similar to domestic capital companies. It was surprising that such efficiency could be achieved in such a place. As expected, Silicon Valley infrastructure cannot be ignored.

* * *

After the meeting, the three co-CEOs of Capital sat together and engaged in a separate meeting.

“What on earth is this? Isn’t this a sign that these people are going to drive us out in the end?”

Heller was the first to voice his discontent.

Curtis sighed and reassured himself.

“It’s a tough demand, contrary to expectations, but it’s not an impossible one. They invested a lot of money to buy capital, so they can’t just receive dividends without doing anything, right?”

“Let’s just watch for now.”

Stewart remained neutral.

Heller still remained dissatisfied.

“Look at their demands carefully. They are also blindly talking about succession of employment. Since they can’t cut it off right away, they are making a puppet out of it and then installing their own people.”

“Then did you expect the current situation to continue?”

“That’s not it, but it’s because you did too much from the beginning.”

Heller continued to criticize the acquirer with every word that came out of his mouth.

“Everyone here today… are they all Korean? Since when did Korea start getting involved in finance…?”

“You shouldn’t criticize like that. If you had taken over, wouldn’t you have planted your own people from day one?”

“That’s because I’m white. Where did a yellow person dare to do that, and a young, blue-haired guy at that….”

“Don’t be racist. Silicon Valley has long been a white world. Aren’t there more Chinese or Indian founders these days?”

“Anyway, that’s what it is!”

Curtis and Stewart shook their heads at Heller’s response of sighing and shouting.

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“If you really don’t like it, then quit.”

“That won’t do. How much is this place…….”

Heller, who had been speaking absentmindedly, quickly shut his mouth.

Curtis’s eyes sharpened.

“Are you still taking bribes?”

“What do you mean by bribe? It’s an express fee. An express fee! What’s wrong with doing it a little faster and taking a little extra for it……”

As Curtis and Stewart glared at him, Heller quietly shut his mouth.

“Anyway, please discipline your employees well and cooperate actively.”

Heller quickly caught Curtis as he was leaving the conference room.

“But, you know, the banking business has been suspended for the past few days due to the crisis, right?”

“yes.”

“How about we get it passed quickly, even today?”

Curtis asked with a suspicious look.

“Did you get money again?”

“No, absolutely not. It’s just that it’s been delayed too long. In fact, if things had gone as planned, weren’t these documents already approved? Since they were previously applied for, if they were approved at that time…….”

“No. If the sale falls through, how are you going to handle it?”

Curtis glared at Heller, then turned and disappeared.

Heller, left alone, sighed and muttered.

“Damn, I knew this would happen so I told you to hurry up and do it.”

* * *

Nam Woon-myeong and his party returned to the hotel and immediately began follow-up work.

We had to raise $2.5 billion within three days.

Yoon Se-bin immediately called her father, Yoon Yi-baek, the president of Korea Bank. She wanted to receive funds from LP Korea Bank. She wasn’t worried because the financial support was already promised when Korea Asset Management was spun off.

However, financial conditions have now changed rapidly.

The aftermath of the Silicon Valley bank failures was causing a global liquidity shortage.

The aftermath came from an unexpected place. Credit Suisse, the second-largest investment bank in Switzerland, whose major shareholder is Saudi Arabia’s sovereign wealth fund, is in a liquidity crisis. Credit Suisse’s assets are a whopping 750 trillion won! The localized financial crisis in the US has spread to Europe.

Of course, it cannot be said that Korea was less affected.

Meanwhile, Nam Woon-myung called Jack at Tech Plaza. Whenever he needed help in this neighborhood, he would always be the first person to call.

“jack?”

[Oh! Mr. Nam! You’re in Silicon Valley?]

“Yeah, how did you know?”

[Your phone is quick and lively. So, what’s up?]

As expected, he was as generous and quick-tempered as he looked.

“Do you know a detective?”

[What detective?]

Are there different types of detectives? Nam Woon-myung vaguely thought of the detectives he had seen in movies. In the US, unlike in Korea, detectives were said to be legal.

“I have someone to investigate.”

[Aha! There’s someone who’s good at that. Can you introduce me to him?]

“It’s urgent, so could you send it here?”

[Okay. I’ll be there soon.]

Nam Woon-myeong told Jack the hotel and room number.

Not long after, a middle-aged man came into the room.

The detectives I saw in the movies were slim and sharp-looking, but this middle-aged man was like Jack, a hot-tempered, hard-working carpenter. Movies and reality are different.

“I’m Jimmy Smith. Please call me Jimmy.”

“Jimmy, do you know a company called Silicon Valley Capital?”

“Yes, there’s no way anyone in this neighborhood wouldn’t know.”

Silicon Valley is a vast area that includes several cities, so it was interesting to know about small businesses.

“Capital has three representatives.”

“Yes, but?”

“Among them, I would like to ask you to do some background check on a man named Tony Heller.”

Jimmy quickly searched for Capital on his phone and asked.

“Is this the person?”

“Yes, that’s right. I suspect that he is doing something detrimental to the company. So I need proof. Is that possible?”

“Of course it is possible. How much time do you need?”

He seemed to have been commissioned to do this kind of work many times, and he had no hesitation at all.

“The sooner the better. I think they’ll be contacting customers from outside the company. So if you keep a close eye on them from outside the company, you’ll probably get a clue.”

“Hmm, okay. I’ll get started and keep in touch.”

I easily hired a detective to look into Tony Heller.

After the detective left, Yoon Se-bin asked.

“You want to investigate Tony Heller?”

“I have to fire that person. But I can’t just fire him because he’s being asked to transfer his employment. If I uncover corruption, there’s no problem with firing him.”

Yun Se-bin stuck out his tongue at Nam Woon-myung’s strategy.

I couldn’t really raise any objections because I had heard so many excuses that were so familiar to people. In fact, strangely enough, they were accurate.

In addition to Korea Bank, Yoon Se-bin also contacted Temasek.

The question was whether the investment amount could be increased, and the reason was the acquisition of Silicon Valley Capital.

While they were considering investing in Korea and Singapore, they spent time in hotel rooms.

In the meantime, new news has emerged.

This is news from the Federal Deposit Insurance Corporation (FDIC), the bankruptcy trustee who is in charge of closing down and managing the bankrupt Silicon Valley Bank. They say that the bond market is fluctuating because the bank is selling off its US Treasury bonds at a low price to revive the bank. Also, the immorality of the holding company, Silicon Valley Finance, is being brought to light.

It was a breaking news that some executives, sensing a crisis, had sold their holding company’s stocks in advance.

The financial system was rocked by the breaking news, and the repercussions spread across the world.

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