Source Code Capital
 | |
Native name | 源码资本 |
|---|---|
| Type | Private |
| Industry | Venture Capital |
| Founded | 2014 |
| Founders |
|
| Headquarters | Beijing, China |
| Products | Investments |
| AUM | US$5.2 billion (2022) |
| Website | sourcecodecap |
| Footnotes [1][2] | |
Source Code Capital (Chinese: 源码资本; pinyin: Yuánmǎ Zīběn) is a Beijing-based venture capital firm founded in 2014. The firm invests in companies from various fields such as information technology, biotechnology, retail and manufacturing.[3]
Background
[edit]Source Code Capital was founded in 2014 by Yi Cao, a computer science graduate from Tsinghua University and a vice president at Sequoia Capital China.[2][3][4][5]
Investors of the firm include pension funds, sovereign wealth funds, college endowments, charities and private equity firms.[2]
The firm runs a peer and mentor alliance called "Code Class" each year, which consists of over 300 entrepreneurs and investors.[2][5][6] Within the community, members can exchange experiences, resources and feedback to one another.[2][5][6] Notable members of Code Class include Zhang Yiming of ByteDance and Wang Xing of Meituan.[2][6]
The firm is noted to have invested in some of China's largest startups such as ByteDance, Meituan, Li Auto and Niu Technologies.[3]
In July 2023, Source Code Capital shut down Source Code Yisu, a seed funding programme. It was speculated this was due to factors such as regulatory scrutiny, declining China–United States relations and slowing economic growth.[7]
Funds
[edit]| Fund[8] | Vintage Year | Committed Capital ($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 |
Notable investments
[edit]References
[edit]- ↑ 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) - 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. Archived from the original on 25 December 2022. Retrieved 25 December 2022.
- 1 2 3 4 5 6 7 8 "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.
- 1 2 3 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.
- 1 2 3 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.
