{"events": [{"year": 2007, "title": "尴尬的圆桌", "eventId": "ev_anecdote_conference_panel", "outcome": "全场大笑。创始人拍了拍你的肩膀说：\"下次融资我第一个找你。\"虽然是个玩笑，但你赢得了在场所有人的好感。Network+13。", "choiceIndex": 0}, {"year": 2008, "title": "春节的问候", "eventId": "ev_anecdote_cny", "outcome": "你收到了大把同样的表情包。春节过去了，你的微信和去年一样热闹——也一样空洞。", "choiceIndex": 1}, {"year": 2009, "title": "黑客入侵", "eventId": "ev_chain_hack", "outcome": "你在天亮前组建了应急小组。虽然数据泄露已成事实，但公司的快速响应把损失降到了最低。客户流失了15%，但没有崩盘。Health-12，AUM-6。", "choiceIndex": 0}, {"year": 2010, "title": "出租车里的BP", "eventId": "ev_anecdote_taxi_pitch", "outcome": "你从机场到登机口的路上看完了这份BP。项目本身一般，但你在BP里看到了一个被你忽略的细分需求。这个灵感后来启发你投了一个不错的deal。Network+5。", "choiceIndex": 0}, {"year": 2011, "title": "创始人的礼物", "eventId": "ev_anecdote_founder_gift", "outcome": "你写了一封详细的反馈邮件。创始人后来告诉别人——你的反馈让他修改了产品的三个关键设计。Network+13。", "choiceIndex": 0}, {"year": 2012, "title": "副业诱惑", "eventId": "ev_new_side_hustle", "outcome": "你没有入伙，但投了5万块。半年后这个工具居然有了3000个付费用户。你开始认真考虑要不要全职。AUM-3，Track Record+2（跨界视野）。", "choiceIndex": 2}, {"year": 2013, "title": "技术突破", "eventId": "ev_chain_breakthrough", "outcome": "你以最快速度完成了追加投资的流程。三个月后公司的估值翻了五倍。AUM+15，Track Record+7。", "choiceIndex": 0}, {"year": 2014, "title": "供应链断裂", "eventId": "ev_chain_supply", "outcome": "公司砍掉了两个边缘产品，聚焦最赚钱的SKU。虽然短期收入下降，但现金流稳住了，AUM-4。", "choiceIndex": 1}, {"year": 2015, "title": "一纸邀约", "eventId": "ev_career_poach", "outcome": "你带着一身本事去了新平台。老同事不太好再联系，但新基金给了你更高的管理规模和独立决策权。未来充满了新的可能性，AUM+12，Network-18，Track Record+6。", "choiceIndex": 0}, {"year": 2016, "title": "赛道转换", "eventId": "ev_new_track_switch", "outcome": "你开始恶补新赛道的知识。前三个月很痛苦，但半年后你成了新赛道的半个专家。AUM-8（切换成本），Track Record+2。", "choiceIndex": 0}, {"year": 2017, "title": "电梯演讲", "eventId": "ev_new_elevator_pitch", "outcome": "你用15秒描述了你对新能源赛道的判断。企业家点了点头：'有意思，把你的BP发给我。'电梯门开了，他走了。你感觉心跳加速。Network+12，Track Record+2。", "choiceIndex": 0}, {"year": 2018, "title": "SPAC的诱惑", "eventId": "ev_anecdote_spac", "outcome": "SPAC流程确实快。公司挂牌了，估值确实翻了一倍——然后三个月后跌了70%。你帮LP在高位套现了一部分。AUM+15，Track Record-3。", "choiceIndex": 0}, {"year": 2019, "title": "小道消息", "eventId": "ev_network_leak", "outcome": "你的情报让被投公司提前三个月调整了产品路线图，避开了正面冲突。创始人后来在一次采访中说\"我们的投资人救了我们\"。Track Record+4。", "choiceIndex": 0}, {"year": 2020, "title": "老股转让", "eventId": "ev_chain_secondary", "outcome": "你转让了30%的老股，收回了当初投资的12倍。LP非常满意——这是基金成立以来第一次有现金回报。AUM+20，Track Record+4。", "choiceIndex": 0}, {"year": 2021, "title": "竞业风波", "eventId": "ev_career_noncompete", "outcome": "经过三个月的法律较量，你赢了。但律师费花了不少，而且这段时间你完全没法安心看项目。Health-12，AUM-6。", "choiceIndex": 0}, {"year": 2022, "title": "猎头的电话", "eventId": "ev_new_headhunt_2", "outcome": "你告诉猎头：如果要我，我要带两个分析师一起。猎头说这需要额外审批。两周后对方同意了——你的议价能力让现平台也开始重新评估你的价值。Network+8，Track Record+1。", "choiceIndex": 2}, {"year": 2023, "title": "搬办公室", "eventId": "ev_new_office_move", "outcome": "阳光确实让人心情好。但你的屏幕反光严重，每天要多工作一小时才能完成报表。Health+5，Track Record-2。", "choiceIndex": 0}, {"year": 2024, "title": "并购传闻", "eventId": "ev_new_ma_rumor", "outcome": "你没有主动联系。两周后并购消息正式公布。创始人在感谢名单里没有提到你。Network-3。", "choiceIndex": 1}, {"year": 2025, "title": "董事席位", "eventId": "ev_new_board_seat", "outcome": "你安静地听了三次会议。发现董事会里有两个人的关系非常微妙。你决定保持中立。Network+3，Health-2。", "choiceIndex": 1}, {"year": 2026, "title": "天降大礼", "eventId": "ev_chain_acquisition", "outcome": "你投了信任票。创始人感激涕零，发誓要做出更大的成绩。但你不知道这是加倍的回报，还是加倍的风险。Network+13。", "choiceIndex": 1}], "investments": [{"year": 2006, "amount": 10, "isLead": true, "sector": "ecommerce", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2007_b2b", "outcomeText": "在长三角和珠三角站稳，年GMV破百亿，被阿里系并购回报3倍。", "projectName": "联通商网", "maturityYear": 2008, "returnMultiple": 2.797647578758187}, {"year": 2007, "amount": 5, "isLead": true, "sector": "gaming", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2008_game2", "outcomeText": "精品页游在细分玩家群中站稳，稳定盈利回报3倍。", "projectName": "烽烟游戏", "maturityYear": 2009, "returnMultiple": 3.139336199713871}, {"year": 2008, "amount": 5, "isLead": true, "sector": "ai", "status": "resolved", "outcome": "breakeven", "projectId": "p_2008_edtech", "outcomeText": "录播课效果不如预期，付费转化率极低。", "projectName": "智学在线", "maturityYear": 2011, "returnMultiple": 1.1825326154008509}, {"year": 2009, "amount": 8, "isLead": true, "sector": "mobile", "status": "resolved", "outcome": "breakeven", "projectId": "p_2009_mobilead", "outcomeText": "巨头入场碾压，公司差异化不足，回报接近成本。", "projectName": "指媒传媒", "maturityYear": 2011, "returnMultiple": 0.9546593262813986}, {"year": 2010, "amount": 6, "isLead": true, "sector": "o2o", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2011_taxi", "outcomeText": "在几个二线城市做到区域第一，被滴滴合并回报3倍。", "projectName": "悦行宝", "maturityYear": 2012, "returnMultiple": 4.2867352024675345}, {"year": 2011, "amount": 17, "isLead": true, "sector": "fintech", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2012_payment", "outcomeText": "在B端支付解决方案领域找到立足之地回报3倍。", "projectName": "易结付", "maturityYear": 2012, "returnMultiple": 3.7382240385166368}, {"year": 2012, "amount": 14, "isLead": true, "sector": "mobile", "status": "resolved", "outcome": "breakeven", "projectId": "p_2011_social", "outcomeText": "用户增长到千万级停滞，商业化困难被低价收购。", "projectName": "星辰网络", "maturityYear": 2014, "returnMultiple": 1.0881531370803714}, {"year": 2013, "amount": 12, "isLead": true, "sector": "o2o", "status": "resolved", "outcome": "failure", "projectId": "p_2013_food", "outcomeText": "食品安全事故+学生中毒事件，品牌崩塌。", "projectName": "味达外卖", "maturityYear": 2014, "returnMultiple": 0}, {"year": 2014, "amount": 22, "isLead": true, "sector": "o2o", "status": "resolved", "outcome": "failure", "projectId": "p_2013_taxi", "outcomeText": "政策突变，各地交管部门联合整治，运营资质被吊销。", "projectName": "速达出行", "maturityYear": 2015, "returnMultiple": 0}, {"year": 2014, "amount": 14, "isLead": true, "sector": "ecommerce", "status": "resolved", "outcome": "failure", "projectId": "p_2016_newretail2", "outcomeText": "水果损耗+门店租金+配送成本=三重毒药。", "projectName": "果速达", "maturityYear": 2015, "returnMultiple": 0}, {"year": 2015, "amount": 19, "isLead": true, "sector": "ecommerce", "status": "resolved", "outcome": "huge_success", "projectId": "p_2016_crossborder", "outcomeText": "被阿里巴巴国际站收购作为海外B端入口回报8倍。", "projectName": "购通全球", "maturityYear": 2019, "returnMultiple": 9.182495955685155}, {"year": 2015, "amount": 13, "isLead": true, "sector": "pc_internet", "status": "resolved", "outcome": "breakeven", "projectId": "p_2017_vr", "outcomeText": "VR热潮退去后客流断崖下跌，大量店面关停。", "projectName": "虚实互联", "maturityYear": 2018, "returnMultiple": 1.1008809867314997}, {"year": 2015, "amount": 11, "isLead": true, "sector": "overseas", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2015_overseas_tool", "outcomeText": "在亚马逊卖家群体中建立口碑ARR过亿回报3倍。", "projectName": "越境通", "maturityYear": 2016, "returnMultiple": 2.307509347773157}, {"year": 2016, "amount": 24, "isLead": true, "sector": "ecommerce", "status": "resolved", "outcome": "breakeven", "projectId": "p_2016_newretail", "outcomeText": "疯狂扩张后单店模型恶化，关店裁员潮中估值跌回B轮。", "projectName": "鲜达生活", "maturityYear": 2019, "returnMultiple": 1.048140346445143}, {"year": 2016, "amount": 18, "isLead": true, "sector": "mobile", "status": "resolved", "outcome": "breakeven", "projectId": "p_2015_live", "outcomeText": "内容监管收紧+头部主播流失，营收腰斩后艰难保本。", "projectName": "燎原直播", "maturityYear": 2019, "returnMultiple": 1.1603833649307491}, {"year": 2017, "amount": 16, "isLead": true, "sector": "ai", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2015_ai", "outcomeText": "细分赛道站稳，ARR稳定在2亿，被Salesforce中国收购回报4倍。", "projectName": "灵智科技", "maturityYear": 2020, "returnMultiple": 5.27233657225035}, {"year": 2018, "amount": 18, "isLead": true, "sector": "healthcare", "status": "resolved", "outcome": "huge_success", "projectId": "p_2020_medai", "outcomeText": "疫情推动医疗AI加速落地，进入医保定价体系，科创板上市回报12倍。", "projectName": "睿医科技", "maturityYear": 2021, "returnMultiple": 11.568708755420522}, {"year": 2018, "amount": 29, "isLead": true, "sector": "consumer", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2018_consumer", "outcomeText": "在区域市场站稳保持盈利，被雀巢收购回报3倍。", "projectName": "活力伙伴", "maturityYear": 2020, "returnMultiple": 5.777279952282552}, {"year": 2018, "amount": 23, "isLead": true, "sector": "ecommerce", "status": "resolved", "outcome": "breakeven", "projectId": "p_2018_group_buying", "outcomeText": "巨头补贴战烧不起，退守区域市场估值腰斩。", "projectName": "近邻优选", "maturityYear": 2021, "returnMultiple": 1.0123004873283208}, {"year": 2019, "amount": 17, "isLead": true, "sector": "consumer", "status": "resolved", "outcome": "breakeven", "projectId": "p_2019_beauty", "outcomeText": "流量红利消退后增长乏力，ROI持续走低估值停滞。", "projectName": "花语纪", "maturityYear": 2021, "returnMultiple": 0.9685365938581528}, {"year": 2019, "amount": 28, "isLead": true, "sector": "new_energy", "status": "resolved", "outcome": "failure", "projectId": "p_2018_ev", "outcomeText": "电池安全事故+大规模召回，公司资金链断裂。", "projectName": "电动未来", "maturityYear": 2021, "returnMultiple": 0}, {"year": 2019, "amount": 32, "isLead": true, "sector": "ai", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2021_autopilot", "outcomeText": "矿区自动驾驶商业化超预期，成为细分龙头回报4倍。", "projectName": "驾途科技", "maturityYear": 2022, "returnMultiple": 5.794600552045741}, {"year": 2020, "amount": 12, "isLead": true, "sector": "ai", "status": "resolved", "outcome": "breakeven", "projectId": "p_2020_privacy", "outcomeText": "技术很酷但客户不买单——隐私计算的ROI说不清楚。", "projectName": "暗盾科技", "maturityYear": 2023, "returnMultiple": 0.865772386547178}, {"year": 2020, "amount": 15, "isLead": true, "sector": "consumer", "status": "resolved", "outcome": "breakeven", "projectId": "p_2021_pet", "outcomeText": "宠物医院监管趋严，合规成本大幅上升侵蚀利润。", "projectName": "宠一生", "maturityYear": 2022, "returnMultiple": 1.178309653326869}, {"year": 2021, "amount": 18, "isLead": true, "sector": "consumer", "status": "resolved", "outcome": "huge_success", "projectId": "p_2020_premade", "outcomeText": "疫情封控+懒人经济双驱动爆发，被安井食品收购回报8倍。", "projectName": "闲人厨房", "maturityYear": 2024, "returnMultiple": 5.238501022914424}, {"year": 2021, "amount": 13, "isLead": true, "sector": "ecommerce", "status": "resolved", "outcome": "huge_success", "projectId": "p_2020_secondhand", "outcomeText": "循环经济+消费降级双风口，交易额突破百亿回报8倍。", "projectName": "旋旋圈", "maturityYear": 2024, "returnMultiple": 5.853917531892658}, {"year": 2022, "amount": 26, "isLead": true, "sector": "ai", "status": "resolved", "outcome": "failure", "projectId": "p_2024_embodied", "outcomeText": "投资人意识到人形机器人商业化比预期困难得多，赛道估值雪崩清零。", "projectName": "灵巧机器人", "maturityYear": 2023, "returnMultiple": 0}, {"year": 2022, "amount": 18, "isLead": true, "sector": "aigc", "status": "resolved", "outcome": "failure", "projectId": "p_2022_aigc_text", "outcomeText": "DeepSeek开源后技术路线被完全碾压，投资清零。在一个赢家通吃的赛道里第二名什么都不是。", "projectName": "语思科技", "maturityYear": 2023, "returnMultiple": 0}, {"year": 2023, "amount": 18, "isLead": true, "sector": "healthcare", "status": "resolved", "outcome": "breakeven", "projectId": "p_2024_synbio", "outcomeText": "量产放大遇到瓶颈，产出效率远低于实验室水平。", "projectName": "创世纪元", "maturityYear": 2026, "returnMultiple": 1.0168496007099748}, {"year": 2023, "amount": 17, "isLead": true, "sector": "overseas", "status": "resolved", "outcome": "huge_success", "projectId": "p_2023_overseas", "outcomeText": "TikTok红利+中国供应链效率，品牌在东南亚和中东爆火收入过十亿美元回报15倍。", "projectName": "远洋电商", "maturityYear": 2026, "returnMultiple": 10.62612778455019}, {"year": 2024, "amount": 23, "isLead": true, "sector": "healthcare", "status": "resolved", "outcome": "failure", "projectId": "p_2023_aidrug", "outcomeText": "核心管线临床失败——这是制药行业每天都在发生的事，AI并没有改变概率。", "projectName": "创药科技", "maturityYear": 2026, "returnMultiple": 0}, {"year": 2025, "amount": 25, "isLead": true, "sector": "semiconductor", "status": "resolved", "outcome": "moderate_success", "projectId": "p_2022_quantum", "outcomeText": "在量子化学模拟领域找到早期应用场景回报5倍。", "projectName": "量子飞跃", "maturityYear": 2026, "returnMultiple": 31.908068550874017}, {"year": 2025, "amount": 25, "isLead": true, "sector": "new_energy", "status": "pending", "outcome": "breakeven", "projectId": "p_2023_energy_storage", "outcomeText": "储能电芯价格雪崩，在手订单大面积取消估值腰斩。", "projectName": "蓄能未来", "maturityYear": 2028, "returnMultiple": 1.086304701399058}, {"year": 2026, "amount": 29, "isLead": true, "sector": "new_energy", "status": "pending", "outcome": "breakeven", "projectId": "p_2023_space", "outcomeText": "一次发射失败炸掉了全年的收入。", "projectName": "星际航天", "maturityYear": 2027, "returnMultiple": 1.0310892566107217}, {"year": 2026, "amount": 14, "isLead": true, "sector": "fintech", "status": "pending", "outcome": "moderate_success", "projectId": "p_2024_web3", "outcomeText": "合规化转型做数字版权交易平台回报3倍。", "projectName": "链启未来", "maturityYear": 2027, "returnMultiple": 11.715837628506126}]}