Source Code Capital
Native name
源码资本
TypePrivate
IndustryVenture Capital
Founded2014 (2014)
Founders
  • Yi Cao
HeadquartersBeijing, China
ProductsInvestments
AUMUS$5.2 billion (2022)
Websitesourcecodecap.com
Footnotes / references
[1][2]

Source Code Capital (Chinese: 源码资本; pinyin: Yuánmǎ Zīběn) 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.[3]

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.[2][3][4][5]

Investors of the firm include pension funds, sovereign wealth funds, college endowments, charities and private equity firms.[2]

The firm runs a peer and mentor alliance called "Code Class" each year, which consists of over 300 entrepreneurs and investors.[2][5][6] Within the community, members can exchange experiences, resources and feedback to one another.[2][5][6] Notable members of Code Class include Zhang Yiming of ByteDance and Wang Xing of Meituan.[2][6]

The firm is noted to have invested in some of China's largest startups such as Bytedance, Meituan, Li Auto and Niu Technologies.[3]

Funds

Fund[7] Vintage Year Committed Capital ($m) TVPI by 2022[8] DPI by 2022
Source Code Fund I 2014 USD 100 8.4 1.17
Source Code Fund II 2015 USD 150 3.3 0.5
Source Code Fund III 2017 USD 260 1.5 0.05
Source Code Venture Fund IV &

Source Code Growth Fund I[2]

 2019 USD 570 2.1 0
Source Code Venture Fund V &

Source Code Growth Fund II[3]

 2021 USD 1,000 1.2 0

Notable investments

References

  1. ↑ WANG, EUDORA. "China's top venture capital companies flock to Singapore". archive.ph. Retrieved 25 December 2022.
  2. 1 2 3 4 5 6 7 Liao, Rita (8 April 2019). "China's Source Code Capital raises $570M as it builds a powerful investor network". TechCrunch.
  3. 1 2 3 4 5 6 7 8 "ByteDance-backer Source Code Capital raises $1b for latest venture funds". 6 April 2021. Archived from the original on 6 April 2021. Retrieved 25 December 2022.
  4. ↑ "Yi Cao". Forbes. Retrieved 25 December 2022.
  5. 1 2 3 "Chinese VC firm Source Code Capital Raises $1 Billion - Pandaily". 13 April 2021. Archived from the original on 13 April 2021. Retrieved 25 December 2022.
  6. 1 2 3 "China's Source Code builds mentoring network for start-ups". South China Morning Post. 6 February 2018. Retrieved 25 December 2022.
  7. ↑ "Source Code Capital | Palico". www.palico.com. Retrieved 25 December 2022.
  8. ↑ "For Early ByteDance Investor and China Venture Star, the Returns Are a Paper Tiger". Retrieved 13 July 2023.
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