胡景邵，私募基金投資者，滙友資本（簡稱AID）創辦人兼首席合夥人。所謂私募基金，簡單來說就是收購或投資非上市公司，再善賈而沽。胡景邵最為人津津樂道的戰績，是2013年收購了瀕臨破產的連鎖唱片公司HMV在香港及新加坡的業務，將這家百年老店起死回生。

在大家都不看好唱片業發展的時候，何以眼光如此獨到？「我眼光並不獨到，也不看好唱片業發展，」蓄着絡腮鬍、一身紫藍西裝配斑馬色運動鞋的他幽默地答，「只是看好HMV強勁的品牌，以及廣闊的顧客年齡層，發揮空間極大。」此後HMV經歷了大革新，銷售產品由唱片、影碟逐步擴至影音器材、玩具、黑膠碟，又加入餐飲元素，四五年間估值翻了幾乎十倍。

他給自己定的投資目標是，項目收購當時不一定要有盈利，但在收購二十四個月內一定賺錢，而秘訣在於「力不到不為財」。「許多私募基金買下公司之後就撒手不管，只求在一買一賣之間賺差價，但AID會深入參與公司管理。」以HMV為例，AID收購後大力精簡其架構，後勤辦公室由四十多人減至六人。「魯迅先生說他把別人喝咖啡的時間都用在寫作上，而我就把別人喝酒交際的時間用來學習和工作。」

他的公司還投資了製作《蝙蝠俠三部曲》、《潛行兇間》、《星際啟示錄》的荷里活電影公司傳奇娛樂（Legendary Pictures）。電影賣座固然是投資人所樂見，然而胡景邵說他最看重的是電影有否傳遞哲學思想或勵志訊息。「《星際啟示錄》是我較為滿意的出品，一部充滿佛學哲理的科幻片，玄之又玄。常說『文以載道』，而我認為電影也應該載道。」他撫着手腕上纏了一圈接一圈的米色佛珠說。

娛樂產業以外，AID也投資了大量科技類企業，包括開發無人車技術以解決大城市交通擠塞的Zoox、幫助「月光族」避免銀行罰息的金融科技公司Dave.com，以及認購了年初宣布推出自家加密貨幣的通訊應用程式Telegram的首次代幣發行（ICO）。

胡景邵透露，公司最近轉型進軍健康科技行業，計劃將七成的人力與資金投放其中。為何決意把雞蛋放在同一個籃子？「在科幻片裏，大反派的幕後勢力往往是製藥或基因公司 。若非及早準備，帶領醫療行業往正道發展，人類被邪惡藥廠統治的時代隨時降臨。」

「我創辦公司的使命是令世界更美好，至於賺錢只是改變世界過程中的副產品。」他一臉正經道。

AID去年收購了以色列一間從事癌症診斷並提供治療方案的公司GeneSort，能透過抽取癌症患者少量的細胞組織作出診斷，並匹配標靶藥，免除病人受電療和化療之苦；未來幾個月將和國際大型保險公司推出血液活檢偵測早期癌症。「以後患癌將如同患感冒一樣，診斷出早期病徵後，只要配對合適的藥物服用即可痊癒，這將是未來醫療大趨勢。」

另一家投資的健康科技公司叫Intarcia，這家美國公司最有名的產品是一支火柴大小的迷你藥泵，植入到糖尿病人皮下，能每日持續釋出藥物，病人無需再擔心因無法按時服藥或注射而影響病情。

談及從事私募基金投資的成功要素，胡景邵再次展露風趣本色：「當然首先得有錢啦！」然而話鋒一轉：「但更重要是對世界充滿好奇，以及衷心渴望改變世界。」

Being a private equity investor, Kelvin Wu is the founder and principal partner of AID Partners Capital Ltd (AID). The business of private equity funds, simply put, is buying or investing in non-listed companies with a view to reselling them at a good price. Kelvin’s most celebrated feat was the acquisition of HMV’s businesses in Hong Kong and Singapore in 2013. Already teetering on the brink of bankruptcy then, the century-old music chain was brought back to life.

At a time when most people were not hopeful of a bright future for the music industry, why did he have such foresight? ‘I didn’t have the foresight, nor was I optimistic about the future of the music industry,’ with sideburns and beard and wearing an indigo suit and a pair of zebra-striped trainers, he responded humorously. ‘I was only bullish about the strong brand of HMV and its wide customer base, seeing lots of room for manoeuvre.’ Afterwards HMV went on to undergo a transformation with its product lines expanded from CDs and DVDs to cover audio and visual equipment, toys and vinyl records, and eventually food and beverages. The chain’s valuation rocketed by almost tenfold in four to five years.

For Kelvin, a project does not have to be making money at the time of acquisition. The target he sets himself is to turn profitable within 24 months after the takeover. The secret of success lies in the axiom ‘no pain, no gain’. ‘Most private equity funds would take a totally hands-off approach after buying a company, just looking to make a quick buck by the price difference in purchasing and selling. AID, on the contrary, would get deeply involved in the company’s operation and management.’ Take HMV for example, AID set about streamlining its structure, reducing the number of back office staff from over 40 to just six. ‘Lu Xun said he would write while others spent time drinking coffee. I use the time to learn and work while others hobnob over drinks.’

His company has also invested in Legendary Pictures, the film company which produced The Dark Knight Trilogy, Inception, and Interstellar. Notwithstanding box office success being an invariably welcome boon to investors, Kelvin said what he valued the most in a film was the philosophy or life-affirming message it conveyed. “I was particularly happy with Interstellar, a sci-fi film steeped in Buddhist philosophy. So very theosophical. The traditional Chinese view of literature is that it should spread the Way. I think films should do the same too,” he said, stroking the beige malas on his wrist.

Entertainment business aside, AID has also invested heavily in tech companies. In addition to Zoox, which develops driverless-car technology to address traffic congestion in big cities, these companies include Dave.com, a fintech company which saves people from overdrafts and unnecessary bank fees during tough financial times, and the Initial Coin Offering (ICO) of Telegram, an instant-messaging app which announced the launch of its own cryptocurrency at the beginning of the year.

Kelvin remarked that his company had recently forayed into health tech and was planning to devote 70% of its manpower and capital to the field. But why put all the eggs in one basket? ‘In sci-fi films, the arch-villain is usually a pharmaceutical or genetics company. If we don’t get prepared in time and steer the health industry on the right path, the age of evil pharmaceutical companies taking over the world will come sooner than we think.’

‘I founded my companies with the mission to make the world a better place. Making money is just a by-product,’ he said in all seriousness.

 Last year, AID acquired GeneSort, an Israeli company that focused on cancer diagnostic and treatment solutions. Only a small amount of cells and tissues are required for diagnosis, and target therapy drugs will help spare patients the pain of radiotherapy and chemotherapy. In a few months GeneSort will join hands with an international insurance company to launch a blood biopsy for detecting early cancers. ‘In future, getting cancer will be like catching cold. Once the early symptoms have been diagnosed, cancer can be cured with just the right mix of drugs. This will be the way forward for health care.’

Intarcia is another health-tech company in which AID has invested. This US company is most famous for its matchstick-sized osmotic mini-pump placed just under a diabetic’s skin to administer the medication on a daily basis. Patients will no longer need to worry if they fail to take their medications or get their injections on time.

On his recipe for success in private equity investing, Kelvin responded with his signature humour, ‘Of course, you’ve got to have money above all else.’ With a changed tone, he added, ‘But, more importantly, you’ve got to have a keen sense of curiosity about the world and a heartfelt desire to change it.’