Vol.003 | In Conversation with Huang Yungang: From Moving Bricks in Xinjiang to VC — My Folded Life

January 21, 2026

This is a real investor's story. But one so raw it barely feels like an investor's story at all.

Put simply, it's a tale of defying fate from the bottom: a boy from Aksu, Xinjiang, who came to Hangzhou for school, then built his own fund in Beijing — Source Code Rhythm. Along the way, he backed companies like Kuaidi Dache, RELX, and Kimi.

The most compelling thread is his journey on green-skin trains. Those rides, ranging from a few hours to seven days and seven nights, exposed him to brutal fights, the unvarnished truth of human nature, and once nearly cost him his life. He still keeps those ticket stubs.

He says much of it felt like that film: A World Without Thieves.

🎙️ Voices Yungang Huang | Managing Partner, Source Code Rhythm

Jing Liu | elsewhere

📀 BGM Child Born at Night — Eve Ai

📱 Socials All platforms: elsewhere

⏱️ Timestamps

Part 1: The Boy from Aksu 00:03:09 From a Sichuan mountain village to the Xinjiang Gobi 00:08:49 How education changed his fate 00:15:39 School bullying 00:19:52 The endless green-skin trains 00:33:21 Campus life at Zhejiang University

Part 2: The Matrix Days and That One Night 00:38:40 The Tencent HR internship and observations on recruiting platforms 00:42:12 Joining Matrix Partners China 00:46:01 The story of investing in Kuaidi

Part 3: Parachuting In as Source Code Partner 01:12:11 Meeting Yi Cao 01:14:13 The story of investing in RELX 01:19:12 Proving himself at Source Code

Part 4: Source Code Rhythm and Yungang Huang at Forty 01:28:53 Source Code Rhythm's progress 01:30:59 "A friend said you're like Xu Zhu and Fu Hongxue" 01:41:14 When the boy returns to his Aksu

🧩 Team Producer: Yunxiao Guo

Filming & Production: Podcast Commune | OPS Podcast Studio

Planning / Director: Lao Yuan

Project Manager: Village Chief (Chaofan Liu)

Director of Photography: Yan Liu

Video Production: Yan Liu

Audio Production: Tutu

Visual Design: Wing (Tide Sound Magazine)

Lighting Design: Zang Zunzhuang Team

Venue Support: alahouse