Discover if this is a suitable investor for your startup. If they are we'll make a warm introduction for free. Otherwise, we'll connect you with matching investors.
Source Code Capital is a venture capital firm founded in 2014 by Cao Yi, a former partner at Sequoia China. Based in Beijing, the firm manages over $7 billion in assets across multiple funds. Source Code Capital has established itself as a key player in the Chinese startup ecosystem, focusing on early-stage investments in enterprise software, artificial intelligence, and developer infrastructure.
Since its inception, Source Code Capital has invested in more than 300 startup companies, demonstrating a strong commitment to fostering innovation in technology-driven sectors. The firm is known for its thesis-driven investment approach and rigorous technical due diligence, which allows it to identify and support high-potential startups effectively.
Source Code Capital specializes in early-stage investments, particularly in the sectors of artificial intelligence, cloud infrastructure, developer tools, and software as a service (SaaS). The firm typically invests between $1 million and $20 million in each startup, focusing on companies that exhibit strong business models and innovative technologies.
The firm emphasizes generational innovation and seeks to partner with founders who demonstrate a clear vision and strong company culture. Source Code Capital's investment strategy is characterized by a deep understanding of the Chinese market and a commitment to supporting startups that are poised for significant growth.
Source Code Capital boasts a diverse portfolio of over 300 companies, with notable investments including:
Cao Yi: Founder and Partner, previously with Sequoia China, brings extensive experience in venture capital and technology investments.
Kaisi Chang: Partner, specializes in enterprise software and has a strong background in technology investments.
Guang Han: Partner, focuses on AI and cloud infrastructure, with a history of successful investments in these sectors.
Yungang Huang: Partner, has expertise in deep tech and enterprise solutions.
Lulin Li: Partner, involved in strategic investments and portfolio management.
Di Wang: Partner, focuses on operational support for portfolio companies.
Xingshi Wang: Partner, specializes in market analysis and investment strategy.
Hongjiang Zhang: Partner, has a strong background in technology and innovation.
Xun Zhang: Partner, focuses on investment opportunities in emerging technologies.
Shuang Dou: Platform and Post-Investment Team, provides support to portfolio companies.
Wenna Jing: Platform and Post-Investment Team, assists with operational development.
Siying Liu: Platform and Post-Investment Team, focuses on enhancing portfolio company performance.
Jian Wu: Platform and Post-Investment Team, involved in post-investment support and strategy.
To pitch Source Code Capital, founders should visit their website and submit a detailed pitch deck. The deck should include information about the business model, market opportunity, and team. The firm encourages direct outreach to specific investment managers listed on their team page for a more personalized approach.
Response times may vary, but founders can expect to hear back within a few weeks after submission.
Source Code Capital offers various post-investment services, including the Code Brain courses, which aim to enhance entrepreneurial insights among portfolio founders. Additionally, the firm provides public affairs and PR support to assist companies in managing their public relations and organizational development.
On November 1, 2025, Source Code Capital made its latest investment, continuing its trend of active participation in the technology sector. Over the past year, the firm has completed 12 investments, reinforcing its commitment to supporting innovative startups in China.
Q?
What are Source Code Capital's investment criteria?
Source Code Capital focuses on early-stage investments in sectors such as AI, cloud infrastructure, and enterprise software. They look for startups with strong business models and innovative technologies.
Q?
How can I pitch to Source Code Capital?
Founders can pitch through the firm's website, providing a detailed deck that outlines their business model, market opportunity, and team. They prefer direct outreach to specific investment managers listed on their team page.
Q?
What makes Source Code Capital different from other VCs?
The firm is known for its deep technical expertise and hands-on support for portfolio companies, along with a strong network within the Chinese enterprise market.
Q?
What is the typical check size for investments?
Source Code Capital typically invests between $1 million and $20 million in each startup.
Q?
What is the geographic focus of Source Code Capital?
The firm primarily invests in startups based in China, particularly those in the technology sector.
All trademarks, logos and brand names are the property of their respective owners. All company, product and service names used in this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.