On March 20, Cijinrong — a supply-chain finance company that had been operating for seven months — announced the completion of its Series A funding round, raising RMB 65 million led by Source Code Capital, with Matrix Partners China and Yunqi Capital making additional investments.
According to Zero One Finance's *2016 China Consumer Finance Annual Development Report*, P2P consumer finance assets reached 99.1 billion yuan in 2016, up 90.9% year-over-year, with conservative estimates projecting 200 billion yuan for 2017. Consumer finance asset-backed securitization also accelerated: in 2016, 51 consumer finance ABS products were issued for a total of 93.632 billion yuan — 6.76 times the 2015 figure.
Recently, Synced closed its Pre-A funding round, led by ByteDance with participation from Source Code Capital, Xunchan Tou, and 5Y Capital. Going forward, Synced will work closely with these four strategic investors, along with its previous angel investor Legend Star Comet Labs, to deepen collaboration across content, investment, industrial services, project incubation, and technology research in the global AI space — with specific partnership details to be announced in phases.
Domestic logistics network platform Yimidida completed its Series A+ funding round today, raising over 100 million yuan. This round comes just three months after the company's previous Series A round.
The global internet community has once again entered "Wuzhen Time" — the cutting edge of tech and capital is now converging here.
China's venture capital and investment industry has gone from its earliest beginnings to today's scene of a thousand sails competing at the fore in just over a decade. Why has VC become so white-hot? And what does it take to become a great investor? Young people everywhere are eager to find out.
Every year, the Fintech ranking jointly released by H2 Ventures and KPMG is a major event for taking stock of global fintech companies. The 2016 Global Fintech 100 list was recently unveiled. **China claimed five of the top ten spots, with Qudian ranking second, just behind Ant Group**.
Preface Yi Cao, founding partner of Source Code Capital, once said that the more success factors a startup assembles, the greater its chances of winning. It's like gathering all seven Dragon Balls to summon Shenron.
It has been nearly two decades since the "Big Three Portals" — NetEase, SINA Corporation, and Sohu — were founded, and the explosive growth of China's information industry has been as sweeping as the Industrial and Electrical Revolutions that came before it. **The sector's total market cap has grown from less than $10 billion in 2004 — the year I stumbled into venture capital — to roughly $700–800 billion today.** Tencent alone has surged from a market cap of nearly $1 billion at its 2004 IPO to $260 billion now, alongside Alibaba.
In 2014, Yi Cao founded Source Code Capital, with investments spanning multiple sectors including internet finance, industrial internet, gaming and entertainment, O2O, and cross-border internet.
