Source Code Capital was founded in the spring of 2014 by Yi Cao, a Tsinghua computer science graduate and former Sequoia Capital China Vice President, who made an extraordinarily early bet on what became one of the most consequential Chinese technology companies of the era: ByteDance, the parent company of TikTok. Cao built the firm around a specific 'Big 3' thesis - Internet+, AI+, and Global+ - and a genuinely founder-first support system including the Code Class entrepreneur community and Code Brain knowledge-sharing sessions, providing portfolio companies with hands-on support in human capital, public relations, and financial advisory beyond capital alone. That approach has backed more than 300 companies including ByteDance, Meituan, KE Holdings, Li Auto, and RELX Technology, and Source Code now manages approximately $7 billion across dual-currency funds, with Cao repeatedly named to the Forbes Midas List.
No single named exit - Source Code's earliest and most consequential bet, ByteDance, remains private and globally dominant, while portfolio companies Meituan, KE Holdings, and Li Auto have all completed IPOs backed by multiple co-investors