Source Code Capital founder Yi Cao announced at today's "Ma Hui" opening ceremony that the firm has completed the final closing of its third USD fund at $260 million and the first closing of its third RMB fund at 1.5 billion yuan.
Source Code Capital announced today that Hongjiang Zhang, former CTO of Microsoft Asia-Pacific R&D Group, former president of Microsoft Asia Engineering Institute, and former CEO of Kingsoft, has joined the firm as a Venture Partner.
Source Code Capital ranked 50th on ChinaVenture's 2016 "China's Top 100 Best Venture Capital Institutions" list and 20th on the "China's Top 50 Best Foreign Venture Capital Institutions" list, and was named one of the top ten best investment institutions in China's tech finance industry for 2016.
On March 28, Yongqianbao announced the completion of its Series C funding round, with Source Code Capital participating as a follow-on investor.
Cijinrong has raised RMB 65 million in its Series A funding round, led by Source Code Capital, with Matrix Partners China and Yunqi Capital — both investors from its angel round — participating. The proceeds will be used primarily for team expansion, employee training, and product and technology refinement.
"New finance" is an even bigger opportunity than social media, search, e-commerce, O2O, and what came before.
Recently, Synced closed its Pre-A funding round, led by ByteDance with participation from Source Code Capital, Xunchan Tou, and 5Y Capital.
A monthly transaction volume of 1 million means roughly over 30,000 transactions per day — a new loan is originated on the Yongqianbao platform every three seconds. And many of the people initiating these loans have no credit cards and no access to traditional financial services...
As the rental installment market matures and capital flows in, this startup — born from a simple frustration with how much of a hassle renting can be — is growing fast.
The 2016 Chuangye Heima Community Conference was held today in Beijing, where Yi Cao, founding partner of Source Code Capital, was named "Investor of the Year 2016."
