Source Code Capital () is a Beijing-based venture capital firm founded in 2014. The firm invests in companies from various fields such as information technology, biotechnology, retail and manufacturing.
Background
Source Code Capital was founded in 2014 by Yi Cao, a computer science graduate from Tsinghua University and a vice president at Sequoia Capital China.
Investors of the firm include pension funds, sovereign wealth funds, college endowments, charities and private equity firms.
The firm runs a peer and mentor alliance called "Code Class" each year, which consists of over 300 entrepreneurs and investors. Within the community, members can exchange experiences, resources and feedback to one another. Notable members of Code Class include Zhang Yiming of ByteDance and Wang Xing of Meituan.
The firm is noted to have invested in some of China's largest startups such as ByteDance, Meituan, Li Auto and Niu Technologies.
In July 2023, Source Code Capital shut down Source Code Yisu, a seed funding programme. It was speculated this was due to factors such as regulatory scrutiny, declining China–United States relations and slowing economic growth.
Funds FundVintage YearCommitted Capital ($m)TVPI by 2022DPI by 2022Source Code Fund I2014USD 1008.41.17Source Code Fund II2015USD 1503.30.5Source Code Fund III2017USD 2601.50.05Source Code Venture Fund IV & Source Code Growth Fund I2019USD 5702.10Source Code Venture Fund V & Source Code Growth Fund II2021USD 1,0001.20
Notable investments
ByteDance Guazi.com Meituan Li Auto Niu Technologies
References
External links