 | |
Native name | 源码资本 |
|---|---|
Company type | Private |
| Industry | Venture Capital |
| Founded | 2014 (2014) |
| Founders |
|
| Headquarters | Beijing, China |
| Products | Investments |
| AUM | US$5.2 billion (2022) |
| Website | sourcecodecap |
| Footnotes / references 12 | |
Source Code Capital (Chinese: 源码资本; pinyin: Yuánmǎ Zīběn) is a Beijing-based venture capital firm founded in 2014. The firm invests in companies from various fields such as information technology, biotechnology, retail and manufacturing.3
Background
Source Code Capital was founded in 2014 by Yi Cao, a computer science graduate from Tsinghua University and a vice president at Sequoia Capital China.2345
Investors of the firm include pension funds, sovereign wealth funds, college endowments, charities and private equity firms.2
The firm runs a peer and mentor alliance called "Code Class" each year, which consists of over 300 entrepreneurs and investors.256 Within the community, members can exchange experiences, resources and feedback to one another.256 Notable members of Code Class include Zhang Yiming of ByteDance and Wang Xing of Meituan.26
The firm is noted to have invested in some of China's largest startups such as ByteDance, Meituan, Li Auto and Niu Technologies.3
In July 2023, Source Code Capital shut down Source Code Yisu, a seed funding programme. It was speculated this was due to factors such as regulatory scrutiny, declining China–United States relations and slowing economic growth.7
Funds
| Fund8 | Vintage Year | Committed Capital ($m) | TVPI by 20229 | 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 I2 |
2019 | USD 570 | 2.1 | 0 |
| Source Code Venture Fund V &
Source Code Growth Fund II3 |
2021 | USD 1,000 | 1.2 | 0 |
Notable investments
References
References
- WANG, EUDORA. "China's top venture capital companies flock to Singapore". archive.ph. Retrieved 25 December 2022.
{{cite web}}: CS1 maint: deprecated archival service (link) - Liao, Rita (8 April 2019). "China's Source Code Capital raises $570M as it builds a powerful investor network". TechCrunch. Archived from the original on 25 December 2022. Retrieved 25 December 2022.
- "ByteDance-backer Source Code Capital raises $1b for latest venture funds". Deal Street Asia. 6 April 2021. Archived from the original on 6 April 2021. Retrieved 25 December 2022.
- "Yi Cao". Forbes. Archived from the original on 25 December 2022. Retrieved 25 December 2022.
- Cheng, Kelsey (13 April 2021). "Chinese VC firm Source Code Capital Raises $1 Billion". Pandaily. Archived from the original on 13 April 2021. Retrieved 25 December 2022.
- Lee, Georgina (6 February 2018). "China's Source Code builds mentoring network for start-ups". South China Morning Post. Archived from the original on 25 December 2022. Retrieved 25 December 2022.
- Jiang, Ben (20 July 2023). "As tech outlook dims, China's venture capital star holds off on bets". South China Morning Post. Retrieved 3 December 2024.
- "Source Code Capital | Palico". www.palico.com. Archived from the original on 25 December 2022. Retrieved 25 December 2022.
- Osawa, Juro (13 July 2023). "For Early ByteDance Investor and China Venture Star, the Returns Are a Paper Tiger". The Information. Archived from the original on 13 July 2023. Retrieved 13 July 2023.