Source Code Capital
Source Code Capital is a Beijing-based venture capital firm founded in 2014 by Cao Yi, a former vice president at Sequoia Capital China. The firm manages approximately RMB 35 billion (around $5 billion to $8 billion) in assets across both RMB and USD funds. Source Code Capital focuses on investing in technological innovation, supporting small and mid-sized enterprises, and promoting green development. The firm invests in seed, early, and growth stages across various sectors, including artificial intelligence, intelligent manufacturing, healthcare, and fintech. Source Code Capital employs a th Per Crunchbase, Source Code Capital has made 370 investments, 116 as lead investor across 233 portfolio companies, with 21 exits including 14 IPOs.
Investing activity
Source Code Capital has made 370 investments according to Crunchbase across 233 portfolio companies, and has led 116 rounds and seen 21 exits, 14 of them by IPO.
Source Code Capital appears in 1 AI deal tracked by the Lounge deals desk, rounds totalling $30M. The rounds are mostly Seed, with a median round size of $30M. The most recent is Critical Aerospace (Angel (seed), $29.6M (CNY 200.0M), Jul 2026).
Source Code Capital most often invests alongside Shangshi Fund, Crystal Stream Capital, Vitalbridge Capital and Oriental Fortune Capital, and the companies it backs on Lounge are mostly in AI.
Deals
Frequently asked questions about Source Code Capital
What AI companies has Source Code Capital invested in?
Source Code Capital's AI investments include Critical Aerospace. The 1 round on Lounge are listed on this page with amounts, dates and co-investors.
Where is Source Code Capital based?
Source Code Capital is based in Chaoyang, Liaoning, China.
What stage does Source Code Capital invest at?
In the rounds tracked on Lounge, Source Code Capital has invested at Seed, with a median round of $30M.
Who does Source Code Capital co-invest with?
Source Code Capital's most frequent co-investors on Lounge are Shangshi Fund (1 deal), Crystal Stream Capital (1 deal), Vitalbridge Capital (1 deal) and Oriental Fortune Capital (1 deal).
How can founders reach Source Code Capital?
Founders on Lounge can see Source Code Capital's contact details in AI Investor Contacts (paid plans), check for a warm introduction through members who worked with the firm under Warm Paths, and add Source Code Capital to their Investor Pipeline to track the conversation.