Min ZHOU, CFA
Founder and Investor of Everest Growth Capital
1. What is your work experience prior to founding Everest?
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Prior to founding Everest Capital, I was a Vice President at AllianceBernstein ("AB") Value Equities team. I was a founding member of the newly-established Shanghai equity team, responsible for leading investment research in China technology and Asia ex-Japan discretionary consumer sectors. As an employee of AB for 6 years, I started his investment career in AB Bernstein's Hong Kong office from 2014 to 2017, covering broad China financials and Asia semiconductor sectors. I also worked as a management consultant in Bain & Company in Shanghai.​
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2. What is your academic background?
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I was born and raised in China. I spent my first 18 years in my hometown in Ningxiang, Hunan. Later, I went to Beijing for college. I obtained dual bachelor’s degrees in Civil Engineering and Economics from Tsinghua University, a master’s degree in Finance from Peking University. In between my college study, I also conducted exchange study in London School of Economics in the UK, and University of New South Wales in Australia. Both experiences were instrumental to broaden my global perspectives.
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3. What do you consider your biggest personal challenge?
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Born in Ningxiang, Changsha, I came from a rural family background and was the first in my family to attend a university. My parents, who opened a retail store when I was five, emphasized education to avoid their generation's hardships. Their vision fueled my determination. I worked very hard, and, in the end, I made it to a top university in China (Tsinghua). This has not only built my resilience and persistence, but also changed my life. Despite China's challenging conditions, I’ve been powering through the unprecedented market downturn. I have a strong mind because I am not easy to be beaten. I believe I can overcome all the difficulties if I have the chance and work hard.
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4. What do you consider your greatest professional accomplishment?
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My Everest venture is my career peak (so far). After university, I joined financial institutions but clashed with the “mainstream”. The conventions of charging unfair fees (not to mention various hidden expenses), benchmarking and herding are neither ethical nor effective. It was like dancing with shackles. Then, the entrepreneurial spirit, instilled in me through my family's history of launching a retail business, began to take hold. I resolved to challenge the status quo and to forge a new path, one that would be distinctly unconventional. The fee structure was meticulously designed to ensure full interest alignment with LPs. I also eschewed the pitfalls of over-diversification and the myopic focus on benchmarking. Now at Everest, I have discovered my true calling, working ethically and joyfully since I began my start-up journey in May 2021.
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5. Whom do you admire as an investor? Why?
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There are numerous investors whom I admire. Prominently, Warren Buffett and Charlie Munger stand at the top of this list. They have imparted foundational principles of value investing, such as circle of competence, a business owner's mindset, the Mr. Market concept, and margin of safety. Reading their letters and analyzing their major portfolio companies is an invaluable lesson for me. Also, their remarkable longevity and consistency in success are truly inspiring, as many investors would retire after achieving a fraction of their accomplishments. Additionally, I also admire David Swensen for his enduring influence on Yale and the endowment and foundation community, both in the US and around the globe. His insights have been a catalyst for me to leave my previous role at AllianceBernstein and to embark on a path that aligns with my values and aspirations.
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6. What's your hobby?
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Eat well, exercise well and sleep well. In my spare time, reading annual reports and doing value investing are my hobby. I do run regularly and sometimes cycle.
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Prior to founding Everest, I had a passion for adventure. I have trekked many parts of the globe including a 5-day trek in the Andes range in Peru, a 12-day Everest Base Camp trek in the Himalaya range in Nepal. I used to cycle solo 2,500km from Chengdu to Lhasa in 19 days to raise money for a global charity fund to protect vulnerable communities against the COVID threat. However, due to COVID and the start-up fund, I have to postpone these passions. I hope to pick them up once again as Everest grows into the next stage.