Press Release

Source Code Capital Raises $1 Billion Fund

April 9, 2021

Beijing – April 9, 2021 – Cooley advised Source Code Capital, a leading Chinese venture capital firm, on the closing of its $1 billion fund, which received backing from both new and old investors. Partners Xun Zeng and Jingyi Xu led the Cooley team advising Source Code Capital.

With the new funding, Source Code Capital’s assets under management have reached $2.5 billion or RMB8.8 billion. The company will continue to make early- and growth-stage investments, focusing on investing ahead of consensus and maintaining a qualitative change investment philosophy. Source Code Capital’s multi-stage investment ability enables it to provide uninterrupted support for exceptional entrepreneurs through continuous rounds of investments across various stages of a company’s growth.

“We will continue to partner with and work hand-in-hand with visionary and audacious entrepreneurs, and through the compounded power of technology and capital, strive to change the world,” Cao Yi, CEO and founding partner of Source Code Capital, said in a news release. “We are dedicated to being the most entrepreneurial investment institution, and through outstanding performance, generating long-term and outsized returns to our investors.”

Source Code Capital devotes itself to becoming the partner of choice for leading entrepreneurs in today’s information revolution era. The company has been successfully partnering with more than 200 leading Chinese technology founders since inception in 2014.

About Cooley LLP

Clients partner with Cooley on transformative deals, complex IP and regulatory matters, and high-stakes litigation, where innovation meets the law.

Cooley has 1,200 lawyers across 16 offices in the United States, Asia and Europe.

This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.