Source Code Capital’s Third Fund $260 Million Fund Raising


Cooley advised Source Code Capital on the closing of its third fund, at $260 million.

Established in 2014, Source Code Capital is an emerging VC firm in China with more than $500 million and ¥1.5 billion under management. The firm is known for being the super-hub of industrial capital in China, having formed a strategic alliance called Code Class, which comprises some of the most influential industrial investors in China. The firm’s founding partner, Cao Yi, formerly worked at Sequoia Capital China and has been involved in the VC industry for more than a decade.

Among Source Code’s portfolio are a variety of fintech, e-commerce, artificial intelligence and other tech-related companies including Qudian, Yongqianbao, Yijiupi, Yimidida, Kakao, Meituan, Lianjia (Homelink), Mogujie, Toutiao, Chehejia and Zenjoy.

Cooley has advised with a team including Ian O’Donnell (Picture), Jingyi Xu and Qing Margaret He.

Involved fees earner: Ian O’Donnell – Cooley LLP; Jingyi Xu – Cooley LLP; Qing Margaret He – Cooley LLP;

Law Firms: Cooley LLP;

Clients: Source Code Capital;

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Author: Ambrogio Visconti