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The Venture Codex

Source Code Capital

2F, Block C, Lei Shing Hong Center, No.8 Guangshun South Street, Beijing, Chaoyang District, 100102, China

Overview

Venture capital firm investing in early and growth stage tech companies.

Founded

2014

Deals ยท 12mo

8

Links

WebsiteLinkedIn

Stage focus

Series A
Series B
Series C

Geographic focus

China
Mexico
Nigeria
United States

Sector focus

Artificial Intelligence (AI)
B2B
Consumer
FinTech
...

Investment portfolio

43rounds
NAMEDATESIZE
Mochi Intelligence
Jul 2026Participated
$147 MSeries A
Moqi
Jul 2026Participated
$147 MOther Equity
Storii
Apr 2026Participated
$0.48 MSeed
Kitar
Apr 2026Led
$10 MSeries A
StairMed
Apr 2026Participated
$73 MOther Equity
FAIR
Mar 2026Participated
$100 MSeries C
FAIRINO
Mar 2026Participated
$100 MSeries C
Accelerating Evolution
Nov 2025Participated
$14 MOther Equity
LibLib AI
Oct 2025Participated
$130 MSeries B
Qi Biodesign
Dec 2024Participated
$75 MSeries A
Jobright
Jun 2024Participated
$5 MOther Equity
Pinch Ta
Apr 2024Participated
$1 MSeries A
Mochi Intelligence
Jul 2026Participated
$147 MSeries A
Moqi
Jul 2026Participated
$147 MOther Equity
Storii
Apr 2026Participated
$0.48 MSeed
Kitar
Apr 2026Led
$10 MSeries A
StairMed
Apr 2026Participated
$73 MOther Equity
FAIR
Mar 2026Participated
$100 MSeries C
FAIRINO
Mar 2026Participated
$100 MSeries C
Accelerating Evolution
Nov 2025Participated
$14 MOther Equity
LibLib AI
Oct 2025Participated
$130 MSeries B
Qi Biodesign
Dec 2024Participated
$75 MSeries A
Jobright
Jun 2024Participated
$5 MOther Equity
Pinch Ta
Apr 2024Participated
$1 MSeries A
43
Items
...
Browse all public portfolio deals

Insights

Time horizon

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Deal Distribution

Source Code Capital: 43 funding rounds are recorded in the selected participation categories.All available history.
Source Code Capital: 43 funding rounds are recorded in the selected participation categories. All available history
Round typeLed dealsParticipated deals
Seed02
Series A510
Series B19
Series C+38
Other Equity14

Monthly Deal Activity

Source Code Capital: 43 deals are recorded across 104 months.All available history.
Source Code Capital: 43 deals are recorded across 104 months. All available history
MonthDeals
Mar '181
Apr '180
May '180
Jun '180
Jul '180
Aug '180
Sep '180
Oct '180
Nov '181
Dec '180
Jan '190
Feb '191
Mar '190
Apr '190
May '190
Jun '190
Jul '192
Aug '190
Sep '190
Oct '190
Nov '192
Dec '190
Jan '200
Feb '202
Mar '200
Apr '201
May '200
Jun '200
Jul '200
Aug '201
Sep '200
Oct '200
Nov '200
Dec '201
Jan '210
Feb '211
Mar '211
Apr '210
May '210
Jun '210
Jul '211
Aug '211
Sep '211
Oct '212
Nov '212
Dec '211
Jan '220
Feb '223
Mar '220
Apr '220
May '221
Jun '220
Jul '221
Aug '220
Sep '220
Oct '220
Nov '220
Dec '220
Jan '231
Feb '230
Mar '230
Apr '230
May '230
Jun '230
Jul '230
Aug '230
Sep '230
Oct '231
Nov '230
Dec '231
Jan '240
Feb '241
Mar '240
Apr '241
May '240
Jun '241
Jul '240
Aug '240
Sep '240
Oct '240
Nov '240
Dec '241
Jan '250
Feb '250
Mar '250
Apr '250
May '250
Jun '250
Jul '250
Aug '250
Sep '250
Oct '251
Nov '251
Dec '250
Jan '260
Feb '260
Mar '262
Apr '263
May '260
Jun '260
Jul '262
Aug '260
Sep '260
Oct '260

Sector Breakdown

Source Code Capital: Enterprise Software is the largest displayed sector by deal count (13 deals).All available history.

A deal can appear in multiple sectors, so sector totals may overlap. Capital represents disclosed total round sizes, not fund cheque sizes.

Source Code Capital: Enterprise Software is the largest displayed sector by deal count (13 deals). All available history
SectorDeals
Enterprise Software13
AI & Machine Learning11
Networks, Cloud & Communication9
Hardware & Robotics9
Fintech6
E-Commerce & Retail5
Manufacturing5
Health & Life Sciences5
Professional Services5
AR/VR4
Data, Analytics & IT4
Space & Frontier Tech4
Transportation & Logistics4
Education & Workforce3
Clean Energy & Sustainability3
Gaming & eSports3
Social & Community Platforms3
Real Estate & Construction2
Marketing & Advertising2
Media & Entertainment2
Developer Tools2
Consumer & Lifestyle1
Food & Agriculture1

Deal Size Distribution

Source Code Capital: 43 rounds have a disclosed size in the displayed size bands.All available history.

Undisclosed round sizes are excluded. Capital represents total round sizes, not fund cheque sizes.

Source Code Capital: 43 rounds have a disclosed size in the displayed size bands. All available history
Round size band (USD)Deals
<$5M4
$5M-$10M1
$10M-$25M11
$25M-$50M3
$50M-$100M9
$100M-$250M13
$250M-$500M2
$500M-$1B0
$1B+0

Deals By Geography

Source Code Capital: China has the largest recorded deal count among the displayed regions (25 deals).All available history.

Top 7 of 7 regions; European countries are grouped as Europe.

Source Code Capital: China has the largest recorded deal count among the displayed regions (25 deals). All available history
RegionDeals
China25
United States7
Nigeria3
Mexico3
Singapore2
Europe2
Indonesia1
Source Code Capital: 20 co-investors are shown, with Hongshan Capital Group (Sequoia Capital China) sharing 11 recorded deals.All available history.

Co-Investors

Bubble size = shared deals

Click a bubble to open that fund in a new tab.

Shows up to 20 co-investors ranked by shared deals. Deals may be shared with multiple funds, so rows overlap. Capital is total round size, not fund cheque size.

Source Code Capital: 20 co-investors are shown, with Hongshan Capital Group (Sequoia Capital China) sharing 11 recorded deals. All available history
Co-investorShared deals
Hongshan Capital Group (Sequoia Capital China)11
GGV Capital7
Vision Plus Capital6
BAI Capital5
Gaorong Capital5
Shunwei Capital5
Alibaba3
IDG Capital3
Lightspeed Venture Partners3
Qiming Venture Partners3
Tencent3
5Y Capital2
Bertelsmann2
Boyuan Capital2
Future Capital2
General Catalyst2
GIC2
Goodwater Capital2
Legend Capital2
Matrix Partners China2

Investment Strategy

Source Code Capital: Led accounts for 23% and participating for 77% of round participation.All available history.
Source Code Capital: Led accounts for 23% and participating for 77% of round participation. All available history
CategoryDeals (count)Share (%)
Led1023%
Participating3377%
Source Code Capital: Single-lead accounts for 30% and co-led for 70% of lead dynamics.All available history.
Source Code Capital: Single-lead accounts for 30% and co-led for 70% of lead dynamics. All available history
CategoryDeals (count)Share (%)
Single-lead330%
Co-led770%

Team

Cao Yi

Managing Partner/Founder

Jireh Li

Managing Director, Chief of Staff

Lei Xin

vice president

Li Lulin

Investor

Tong Xiang

Partner

Wu Jian

Partner

Yuhao Zhang

Executive Director

Yungang Huang

Partner