Source Code Capital
Venture capitalBeijing · Seed–Growth · 1 people tracked
Investment thesis
Source Code Capital practices value investing, seeking to create lasting, real value through its investments. The firm emphasizes generational innovation, top-tier business models, and strong corporate cultures, aiming to help companies become global leaders that grow sustainably. It partners closely with resilient, bold entrepreneurs, leveraging technology and management to drive commercial transformation. Beyond capital, it offers ecosystem connections, entrepreneurial education programs, and founder-support services. The firm invests across seed, early, and growth stages in sectors including AI & Robotics, intelligent manufacturing, internet & consumer, and life sciences.
Source: firm website, verified Aug 3, 2026.
Team · 1 people
from curatedWhat they invest in
from 49 of 209 portfolio companiesHardware ×19AI & Machine Learning ×13Consumer ×11Deep Tech ×9Biotech ×6E-commerce ×6Robotics ×6Cleantech ×5
HQs:China×26United States×2United Kingdom×1Mexico×1
Investments · 209 tracked
founders shown can be your intro pathSquare is a financial services platform that provides point-of-sale systems, payment processing, payroll management, and cash flow tools for small and medium-sized businesses.
FintechRetail TechSaaSSan Francisco, US
Jack Dorsey(Co-founder)Brian Grassadonia(Executive Officer)Sivan Whiteley(Executive Officer)
BoardMary Meeker(Director)Jim McKelvey(Director)inRoelof Botha(Director)in
Co-investorsA*Bling CapitalCota CapitalCrunchFundHinge CapitalKleiner Perkins+13 more
Co-investorsInnoangel
Beatbot makes robotic pool cleaners that automatically remove leaves and debris from swimming pools.
ConsumerHardwareRobotics
Co-investorsMonolith Venture Advisory Limited
Co-investorsSoftBank Vision FundYi Capital Inc.
Co-investorsQiming Venture Partners
Co-investorsLegend Capital
Bota Bio operates a proprietary Biofoundry platform combining computational algorithms with biotechnology to accelerate design-build-test-learn cycles for bio-manufacturing.
BiotechFoodTechNew Materials
Co-investorsHongShan Capital GroupNSG VenturesMatrix Partners ChinaSherpa Healthcare Partners
ByteDance builds a portfolio of digital platforms and services focused on short-form video, content creation, e-commerce, and workplace collaboration, serving creators and consumers globally.
Creator EconomyE-commerceMedia & EntertainmentBeijing, CN
Yiming Zhang(Founder)inRubo Liang(Founder; Chairman of the Board)inZhang Yiming(Founder)
Co-investors3Comma CapitalAglae VenturesBase PartnersCoatue ManagementEvolution VC PartnersGaldana Ventures+15 more
QQ.com is a Chinese web portal and content platform operated by Tencent that aggregates news, entertainment, gaming, and other digital services.
Media & EntertainmentShenzhen, CN
Co-investorsChina Growth CapitalChina Impact VenturesFirstCheck AfricaMing capitalMonolith Venture Advisory Limited
DP Technology develops AI for Science tools and intelligent systems for scientific discovery, including its Uni-Fold/宇知 science discovery engine, computation and simulation software (Hermite, Piloteye), and the Bohrium research platform.
AI & Machine LearningBiotechDeep TechBeijing, CN
Linfeng Zhang(Founder)in
Co-investorsQiming Venture PartnersVision Plus Capital
Edianyun (易点云) rents out office IT equipment — desktops, laptops (Lenovo, ThinkPad, HP, Apple), monitors, and printers — to businesses on a monthly, deposit-free, pay-as-you-go basis with full warranty and maintenance.
Enterprise SoftwareFuture of WorkHardware
Co-investorsGICShunwei Capital
ESWIN develops chips and semiconductor solutions, produces silicon materials, and works on ecosystem/supply-chain development.
HardwareNew MaterialsSemiconductors
Co-investorsChina Internet Investment FundIDG CapitalLegend CapitalShang Qi Capital
Xianglu Technology develops automatic cooking robots/machines, marketed under the brand "美膳狮" with a product line including the "小钢炮2K" model.
FoodTechHardwareRobotics
Co-investorsQiming Venture Partners
Hongan (厨芯) develops smart commercial dishwashers and automated cooking equipment for restaurants and food service businesses.
FoodTechHardwareRobotics
Co-investorsLinear Capital
ICECO is a manufacturer and seller of portable freezers and refrigerators, offering after-sales support and distribution across markets including China, the US, and the UK.
ConsumerHardware
KEENON Robotics develops service robots and integrated solutions, including autonomous delivery robots, guiding robots, and disinfection robots for sectors such as catering, hotels, hospitals, retail, and recreation.
HardwareIoTLogistics & Supply ChainRobotics
Co-investorsSoftBank Vision FundVertex Ventures ChinaYunqi Partners
Co-investorsProsperity7 Ventures
Innovator in China's new energy vehicle market designing and manufacturing premium smart electric vehicles (NASDAQ: LI).
Co-investorsVision Plus Capital
Co-investorsHike Capital
Mech-Mind develops industrial 3D cameras, laser profilers, and AI machine vision and deep learning software that let robots perform picking, palletizing, assembly, and quality inspection tasks without coding.
AI & Machine LearningHardwareRobotics
Metis Pharma applies AI to design nanomaterials such as lipid nanoparticles (LNPs) for targeted drug delivery, using techniques like molecular dynamics simulation of endosomal escape.
AI & Machine LearningBiotechDeep Tech
Meituan operates a digital platform for services retail and goods retail, connecting consumers with local businesses and merchants.
E-commerceFoodTechMarketplaces
Xing WANG 王兴(Founder)in
Co-investorsCoatue ManagementMSA NovoQiming Venture Partners
Moody sells daily disposable colored contact lenses direct to consumers, offering spherical lenses in cosmetic colors such as the GlowyLock Moonstone Blue.
ConsumerDirect to ConsumerE-commerce
Co-investorsGranite AsiaMorningside Venture Capital LimitedPlum Ventures
Moonshot AI develops large language models for knowledge work and reasoning tasks.
AI & Machine LearningBeijing, CN
Co-investorsCathay InnovationK3 VenturesMonolith Venture Advisory LimitedXiang He Capital
Weimai provides an internet-based healthcare service platform in China that offers full-course disease management, connecting patients with hospitals and doctors for in-hospital and post-discharge care.
Digital HealthHealthtechSaaS
Co-investorsCenova Capital
North Ocean Photonics develops and manufactures wafer-level optics and integrated photonics products, with in-house capabilities spanning R&D, master fabrication, mass production, and quality control.
Deep TechHardwareSemiconductorsShanghai, CN
OPay is a digital payment and financial services platform offering mobile wallet transfers, airtime and data top-ups, bill payments, a debit card, and interest-bearing savings for consumers.
ConsumerFintech
Co-investorsHongShan Capital GroupSoftBank Vision FundZhenFund
PERA Global (安世亚太) develops PERA SIM, a suite of engineering simulation software covering structural mechanics, computational fluid dynamics, electromagnetics, meshing, co-simulation, and data visualization, along with a simulation cloud platform and knowledge-sharing platform.
Advanced ManufacturingDeep TechSaaS
RELX (悦刻) is a Chinese company founded in January 2018 that develops, designs, manufactures, and sells branded e-cigarette/vaping products for adult consumers.
Advanced ManufacturingConsumerHardware
Co-investorsHike Capital
Sand.ai develops AI video generation models, including Magi-1.1, described as an autoregressive video model, and offers an API platform and tools for creating with its Magi models.
AI & Machine LearningDeep TechMedia & Entertainment
Co-investorsXiang He Capital
SiBionics develops medical technologies and products including a continuous glucose monitoring device that requires no fingerstick blood calibration, and an AI-based fundus lesion diagnostic software using deep learning.
AI & Machine LearningDigital HealthMedical Devices
Zhejiang Sinopont Technology, founded in 2006, develops, manufactures, and sells encapsulant films for photovoltaic solar modules, including POE, EPE, white film, and EVA product lines with customization options.
CleantechEnergyNew Materials
StairMed develops invasive brain-computer interface technology, including ultra-flexible micro-nano electrodes, an implantation-assist device, an implantation surgical robot, and a high-throughput neural signal acquisition system.
Deep TechHealthtechMedical Devices
Co-investorsOrbiMed
星锐医药 (StarNA Tx) develops RNA-based therapeutics built around lipid nanoparticle (LNP) drug delivery systems.
AI & Machine LearningBiotechDeep Tech
Stori offers a mobile app with consumer financial products in Mexico, including a no-annual-fee credit card with up to 10% cashback, an interest-bearing debit account, and personal loans.
ConsumerFintechMexico City, MX
Bin Chen(Founder)inGY L(Founder)Guangyu (GY) L(Founder)inSherman He(Founder)in
Co-investorsGeneral CatalystNotable CapitalVision Plus CapitalZMT Capital
Sunwoda is a battery manufacturer with experience developing and producing batteries for smartphones, laptops, tablets, hybrid and electric vehicles, and energy storage systems.
CleantechEnergyHardware
Ostar (欧态) develops an AI-powered continuous glucose monitoring (CGM) system, using self-developed biosensors and a wearable device to provide near-painless, continuous blood glucose tracking.
AI & Machine LearningDigital HealthMedical Devices
Co-investorsQiming Venture Partners
TenaFe develops SSD controllers, including the TC2300 PCIe Gen5 DRAMless controller built on TSMC's 6nm process, designed for AI workloads, edge computing, and high-performance solid-state drives.
AI & Machine LearningHardwareSemiconductors
Co-investorsTyche Partners
Tmall is an online shopping platform operated within the Taobao/Alibaba ecosystem, offering a wide range of branded goods including apparel, beauty, home appliances, and digital electronics from domestic and international brands.
ConsumerE-commerceMarketplaces
Co-investors01vcGeneral AtlanticVertex Ventures China
usmile sells electric toothbrushes, including models with a smart screen and multiple brushing modes, marketed directly to consumers for oral care.
ConsumerDirect to ConsumerHardware
Wang Xiaolu is a Chinese snack brand founded in 2016 in Beijing, known for its "tiger-skin" braised chicken feet as its core product.
ConsumerDirect to ConsumerFoodTechBeijing, CN
Co-investorsVertex Ventures China
Xinchao Media Group operates a network of over 700,000 smart elevator screens across 205 Chinese cities, delivering advertising to residential communities.
AdTechMedia & Entertainment
Co-investorsHike Capital
Yunquna (运去哪) provides international logistics and cross-border e-commerce supply chain services, including ocean, air, and rail freight, trucking, customs clearance, insurance, overseas warehousing, and last-mile fulfillment.
E-commerceLogistics & Supply ChainSaaS
Co-investorsXiang He Capital
Co-investorsFortune Venture Capital
Unitree develops and sells quadruped ("robot dog") and humanoid robots, along with related hardware such as 4D LiDAR sensors, for industrial, research, and consumer applications.
AI & Machine LearningHardwareRobotics
Co-investorsHongShan Capital GroupVertex Ventures China
Co-investorsMiracle Plus
Case-handling warehouse robotics specialist providing intelligent warehouse automation solutions.
Co-investors01vcHongShan Capital Group
Beijing-based technology company providing quality residential rental products and services.
Co-investorsHundreds CapitalSoftBank Vision FundWarburg Pincus
Tech-driven housing services platform (NYSE: BEKE; SEHK: 2423).
Co-investorsHongShan Capital Group
YQN is a digital freight forwarding platform offering ocean, air, and railway freight, cross-border e-commerce logistics, warehousing, customs clearance, and inland delivery.
Co-investorsCoatue ManagementDCM VenturesXiang He Capital
Browse all 209 investments with full details →
▶9 more tracked companies
银河航天银河通用机器人锐锢商城长光辰芯阶梯医疗零壹肆材料领慧立芯鲲游光电齐禾生物科技
Exits · 2
IPOs and acquisitions across the tracked portfolioRLX TechnologyNYSE: RLXSquareNYSE: XYZ
Portfolio news
latest coverage across their companiesSand · kcrg.com · Aug 19, 2026
Moody · tipranks.com · Aug 18, 2026
Chemical · voiceofoc.org · Aug 18, 2026
Sunwoda · marketscreener.com · Aug 13, 2026
Eswin · digitimes.com · Aug 11, 2026
usmile · manilatimes.net · Aug 4, 2026
Moonshot AI · bloomberg.com · Jul 29, 2026
Frequently asked questions
- How many investments has Source Code Capital made?
- Source Code Capital has 194 tracked investments.
- What stage does Source Code Capital invest at?
- Source Code Capital invests at the Seed, Series A, Series B, Growth stages.
- What is Source Code Capital's typical check size?
- Source Code Capital typically writes checks of $2M – $200M.
- What sectors does Source Code Capital focus on?
- Source Code Capital focuses on Advanced Manufacturing, AI & Machine Learning, Biotech, Consumer, Healthtech, Robotics.
- Where is Source Code Capital located?
- Source Code Capital is headquartered in Beijing, CN.
- Does Source Code Capital lead rounds?
- Yes, Source Code Capital leads investment rounds.
- Who does Source Code Capital co-invest with?
- Source Code Capital most often shares deals with HongShan Capital Group, Qiming Venture Partners, SoftBank Vision Fund, among 48 tracked co-investors.
Co-investors · 8
Qiming Venture Partners is a Shanghai-based venture capital firm that invests in growth-stage technology, communications, media, and healthcare companies operating in China, with support from its U.S. partner Ignition Partners. The firm's investment approach combines local market knowledge with global resources and executive relationships.
Notable Capital is a venture capital firm that has partnered with founders for over two decades, backing companies from the earliest stages through to exit.
Granite Asia is a multi-asset investment platform focused on Asia, providing bespoke financing structures and comprehensive investment solutions across multiple asset classes and strategies to support company growth.
5Y Capital positions itself as entrepreneurs who happen to run a venture firm, focusing on finding founders with "crazy" visions that contradict market consensus when others dismiss them as unrealistic. The firm has built a track record of early bets on Chinese tech leaders like Kuaishou, Xiaomi, and SenseTime, while deliberately expanding into new domains like AI infrastructure and biotech despite having no prior experience in those sectors.
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General Catalyst is a venture capital firm operating as a partnership focused on company building and accelerating the growth of the businesses it backs.
Lightspeed is a global venture capital firm that has spent over two decades backing innovative companies as an early and first investor.
Goodwater Capital is a consumer technology investment firm backing entrepreneurs building companies across sectors such as housing, healthcare, food delivery, financial services, education, entertainment, and transportation.
BAI Capital is an investment firm with China expertise and a global network, focused on empowering future business leaders.
Firms observed investing alongside Source Code Capital, from public investor directories. Shared companies are the overlap with Source Code Capital's recorded portfolio.
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