Source Code Capital
China-based venture capital firm
From Wikipedia, the free encyclopedia
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]
| |
Native name | 源码资本 |
|---|---|
| Company type | Private |
| Industry | Venture Capital |
| Founded | 2014 |
| Founders |
|
| Headquarters | Beijing, China |
| Products | Investments |
| AUM | US$5.2 billion (2022) |
| Website | sourcecodecap |
| Footnotes / references [1][2] | |
Background
Source Code Capital was founded in 2014 by Yi Cao, a computer science graduate from Tsinghua University and a vice president at Sequoia Capital China.[2][3][4][5]
Investors of the firm include pension funds, sovereign wealth funds, college endowments, charities and private equity firms.[2]
The firm runs a peer and mentor alliance called "Code Class" each year, which consists of over 300 entrepreneurs and investors.[2][5][6] Within the community, members can exchange experiences, resources and feedback to one another.[2][5][6] Notable members of Code Class include Zhang Yiming of ByteDance and Wang Xing of Meituan.[2][6]
The firm is noted to have invested in some of China's largest startups such as ByteDance, Meituan, Li Auto and Niu Technologies.[3]
In July 2023, Source Code Capital shut down Source Code Yisu, a seed funding programme. It was speculated this was due to factors such as regulatory scrutiny, declining China–United States relations and slowing economic growth.[7]
Funds
| Fund[8] | Vintage Year | Committed Capital ($m) | TVPI by 2022[9] | 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 |