IT之家 科技资讯 Full text
曾暴涨 7 倍,大模型企业 MiniMax 股价跌破 IPO 发行价
IT之家 10 月 22 日消息,MiniMax 的股价已经回吐自今年 1 月上市以来的全部涨幅。激烈的行业竞争,迫使投资者重新评估这家大模型企业。 IT之家注意到,该股今日在港股盘中最大跌幅达 7.3%,跌至…
A venture fund — MMXXVI
Legacy Ventures
A venture fund for the founders everyone else has already passed on — built to be patient, and built to leave the world treating people better than it found them.
· Contents
What follows, in order: the case we're making, who it's for, and how we hold ourselves to it.
01 — Mission
We back the founders everyone else looks past — and we stay long enough to matter.
HUE Legacy Ventures exists for one reason: too much good work never gets funded, because it doesn’t come from the right place, the right person, or the right pitch. We think that’s a market failure, not a filter. So we built a fund around finding it anyway — and staying with it past the point where most capital moves on to the next thing.
Everything else in this document is really an explanation of that one sentence: who we mean by “everyone else looks past,” what “stay long enough to matter” actually requires, and why we think it’s the only version of this job worth doing.
02 — Who we back
Most capital chases the founder who already looks like a winner: the right school, the right network, metrics that make the memo easy to write. We go looking the other way — into markets everyone else wrote off, toward teams without the pedigree, carrying an idea nobody funded the first three times they pitched it.
We don’t back underdogs because it makes a better story. We back them because that’s where the real work of building something from nothing still happens — where an idea hasn’t already been reshaped into whatever capital expected it to become.
That’s not a mission statement we perform once a year. It’s a sourcing strategy. The best founder in a category nobody’s watching still looks, on paper, worse than an average founder in a category everyone’s watching. We’ve made peace with reading past the paper.
03 — Investment focus
Stated plainly, so there’s no guessing at the door.
04 — Legacy, not a quarter
A fund built around next quarter’s numbers isn’t built for a world that takes longer than a quarter to change. We size our conviction to what a company could still mean in twenty years, not to a return schedule.
So every check gets asked one honest question first: will this still matter to the people it serves, a generation from now? If the answer is no, the fastest path to a good return doesn’t change our mind.
We’d rather be right in ten years than validated in ninety days.
05 — The point, plainly
We didn’t start this fund to build another portfolio. Too much of how business gets done treats people like a line item — the user, the vendor, the person on the other end of the support ticket, the community next door.
We’re betting on founders who build the opposite way: that a company can win by treating the people inside it and around it better, not despite that choice, but because of it. We hold every company we back to the same standard we hold ourselves to.
06 — How we work
We try to show up before the deck is polished — when there’s more conviction than proof, and most of what exists is a founder who won’t let the idea go. That’s usually the point where the right early partner matters most, and where the wrong one does the most damage.
Once we’re in, we stay in. Not as a name on a cap table that resurfaces at the next fundraise, but in the rooms where the early decisions get made — the first hires, the first real customer, the first time the plan has to change. We’d rather be useful than visible.
We don’t run a portfolio the way a fund runs a portfolio. We run it the way a family runs the businesses it actually cares about — paying attention over years, not quarters, and measuring ourselves by what’s still standing a decade out.
07 — Principles & closing
The handful of commitments we are willing to be held to.
If that sounds like the fund you have been looking for — or the fund that should have called you back three pitches ago — tell us what you are building.
A résumé is a record of who has already been let in. We judge the work, the market and the person in front of us.
We would rather be the first serious conversation than the fifth term sheet.
Useful beats visible. Our job continues long after the round closes.
We size conviction to what a company could still mean to the people it serves a generation from now.
The standard we hold our companies to is the standard we hold ourselves to — inside the company and around it.
Out of one, many. What we build together should outlast any single fund, founder or cycle.
The Wire
The financial desks we read, gathered in one place. Stories we are licensed to carry are reproduced in full with the writer credited; everything else is a headline and a short quotation that links straight to the publisher.
IT之家 科技资讯 Full text
IT之家 10 月 22 日消息,MiniMax 的股价已经回吐自今年 1 月上市以来的全部涨幅。激烈的行业竞争,迫使投资者重新评估这家大模型企业。 IT之家注意到,该股今日在港股盘中最大跌幅达 7.3%,跌至…
CafeF Kinh tế vĩ mô - Đầu tư Full text
Hà Nội đề xuất đầu tư hơn 1.100 tỷ đồng cải tạo khu vực 131 vòm cầu đường sắt phía Nam cầu Long Biên theo hình thức PPP.
CnEVPost News Full text
An MIIT official said work on the second batch is underway, without disclosing the automakers, models or approval timeline. For details, please visit CnEVPost (cnev.co).
The Economic Times Markets Full text
With India’s stock market caught between expensive mid- and smallcaps and largecaps that lack strong growth drivers, Samco Securities founder and CEO Jimeet Modi is recommending a deliberately balanced portfolio: 20%…
CNA Business Full text
Oct 22 : Chinese AI startup DeepSeek has raised about 100 billion yuan ($14.98 billion) in its latest fundraising round, Bloomberg News reported on Thursday citing people familiar with the matter. Battery pioneer…
CafeF Thị trường chứng khoán Full text
Vicostone thành lập Công ty TNHH Hóa chất Vicostone, vốn điều lệ 200 tỷ đồng, ngành nghề kinh doanh chính là sản xuất hóa chất cơ bản.
Get in touch
We read everything that comes in. If you are building something the room already passed on, that is the note we want.
Tell us what you're building