Source Code Capital Explained
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.[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.[4]
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.[5] [6] 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.
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 | 2019 | USD 570 | 2.1 | 0 |
| Source Code Venture Fund V &Source Code Growth Fund II | 2021 | USD 1,000 | 1.2 | 0 | |
Notable investments
Notes and References
- Web site: WANG . EUDORA . China's top venture capital companies flock to Singapore . archive.ph . 25 December 2022 . 22 August 2022 . https://archive.today/20220822071408/https://asia.nikkei.com/Spotlight/DealStreetAsia/China-s-top-venture-capital-companies-flock-to-Singapore . bot: unknown .
- Web site: Liao . Rita . China's Source Code Capital raises $570M as it builds a powerful investor network . TechCrunch . 8 April 2019 . 25 December 2022 . 25 December 2022 . https://web.archive.org/web/20221225050444/https://techcrunch.com/2019/04/08/source-code-capital-570-million/ . live .
- Web site: 6 April 2021 . ByteDance-backer Source Code Capital raises $1b for latest venture funds . 25 December 2022 . https://web.archive.org/web/20210406065259/https://www.dealstreetasia.com/stories/source-code-capital-3-235035/ . 6 April 2021 .
- Web site: Yi Cao . 25 December 2022 . Forbes . en . 25 December 2022 . https://web.archive.org/web/20221225051121/https://www.forbes.com/profile/yi-cao/ . live .
- Web site: 13 April 2021 . Chinese VC firm Source Code Capital Raises $1 Billion - Pandaily . 25 December 2022 . https://web.archive.org/web/20210413161215/https://pandaily.com/chinese-vc-firm-source-code-capital-raises-1-billion/ . 13 April 2021 .
- Web site: 6 February 2018 . China's Source Code builds mentoring network for start-ups . 25 December 2022 . South China Morning Post . en . 25 December 2022 . https://web.archive.org/web/20221225055949/https://www.scmp.com/business/article/2132297/chinas-source-code-capital-builds-mentoring-network-investee-start-ups . live .
- Web site: Source Code Capital Palico . 25 December 2022 . www.palico.com . 25 December 2022 . https://web.archive.org/web/20221225062520/https://www.palico.com/general-partners/source-code-capital/18983ff2193b4805bbaeca9b2dac5681 . live .
- Web site: For Early ByteDance Investor and China Venture Star, the Returns Are a Paper Tiger . 13 July 2023 . 13 July 2023 . https://web.archive.org/web/20230713130536/https://www.theinformation.com/articles/for-early-bytedance-investor-and-china-venture-star-the-returns-are-a-paper-tiger . live .
