Kaisi Chang
常凯斯
Kaisi Chang is a partner at Source Code Capital, a Chinese venture capital firm, having been promoted to the role in October 2021 . His investment track record spans both lead and participating roles across consumer and technology companies: he led deals in Yidian Cloud, Narwal Robotics, usmile, Bloks, Chayan Yuese, Ziroom, Linji Convenience Store, and Pagoda , and participated in ByteDance, Beike Zhaofang, Yijiupi, Xinchao Media, and WANGBAOBAO . In a 2023 Source Code Capital event, Narwal Robotics founder Zhang Junbin described Chang as someone who "understands entrepreneurs" and supports long-term innovation even when the path is difficult . The available material does not cover Chang's background prior to Source Code Capital or his more recent activity beyond early 2023.
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Coverage
Code Brain · 2025 WRC Series | Five Voices: Commercialization Challenges for Robotics and the Pitfalls of Going Global
During the World Robot Conference 2025, Xiang Li, partner at Source Code Capital, moderated a roundtable with Tong Li, founder and CEO of Keenon Robotics; Xu Xu, director at Starmax; Chuansheng Wang, chief strategy officer at HAI ROBOTICS; and Tianyu Zang, partner at Jinqiu Fund.
MaHui Moment | Congratulations to MaHui Member Blokees on Its Successful IPO — Committed to Building Lasting, Real Value Together
Source Code Capital stands alongside exceptional companies.
Code Moment | Narwal's Acceleration Moment, Tides 2023 Industry Future Conference
Innovation and risk are two sides of the same coin.
Unveiling Li Zexiang: An Engineering Professor and His Sweet Spot
"Let his bullets fly a while longer."
Source Code Capital | Congratulations to Edianyun, "the first listed office cloud company," on its successful IPO: Source Code Capital's steadfast partnership in creating lasting, real value
MaHui Members Cloud Whale and DeepWise Named to 36Kr's 2023 36Under36 List
"Research and technology" were their most prominent labels this time around.
Code Moment | TTC Closes RMB 10-Million-Level Funding Round Led by Source Code Capital
MaHui | Congratulations to MaHui member Pagoda Group on its successful listing on the Hong Kong Stock Exchange's main board, becoming "China's first fruit chain retail stock"
Source Code Capital | Source Code Capital Honored with "Top Investors and Investment Firms Across Ten Innovation Economy Sectors" Awards
Code View | A Day in the Life of Green Power
Code View | Yungang Huang: "Cross-Disciplinary Convergence" Drives Innovation in Healthcare
MaHui Founder | Post-90s Entrepreneur Zhang Junbin: Building Transformative Products, Pursuing Zero-to-One Value
Source Code Capital View | Technological Innovation for Carbon Neutrality in Sustainable Development
Code View | Is 41 the Optimal Age for Innovation?
Be a partner on the entrepreneurial journey, powering China's economic upgrade and transformation.
Source Code Capital Wins Multiple Awards at 2021 ChinaVenture Rankings
MaHui | Source Code Capital's Chang Kaisi: Tech Shifts Reshape Moats, Tech Entrepreneurship Breaks Boundaries
Tech disruption breaks down barriers
Source Code Capital announced that Zheng Yunduan has joined as a partner.
Create Lasting, Real Value
Source Code Capital announced that Wei Lai has been appointed as Ecosystem Partner.
Creating Lasting, Real Value
Source Code Capital's Chang Kaisi: How Consumer Brands Achieve Cycle-Crossing Growth
Product is king.
Douyin E-commerce and Source Code Capital jointly released the *New Brand Growth Trends White Paper*.
Passion-Driven, Newcomers Rising
Xijiezhachuan, a fried-skewer snack brand, announced the completion of a 295 million yuan Series A funding round led by Source Code Capital.
"Ten Thousand Stores in a Hundred Cities," dedicated to helping 100,000 Chinese people successfully realize their entrepreneurial dreams.
Source Code Capital Announces Kaisi Chang as Partner
We're committed to partnering with outstanding founders to build a better life through technology and innovation.
Source Code Capital was named "Most Founder-Friendly Investment Firm" and received multiple other honors.
Create Lasting, Real Value
How Young Consumers Powered This Year's 618 Shopping Festival: A Look at Source Code Capital's New Consumption Bets
Seeking founders who pursue product excellence
Source Code Capital portfolio company "Yidianzu" announced the completion of a Series E funding round exceeding 500 million RMB, led by existing shareholder Source Code Capital.
Edianzu has officially rebranded as "Edianyun," continuing its deep focus on China's office IT infrastructure services.
Blokees announced the completion of a 330 million RMB Series A funding round, co-led by Source Code Capital and Legend Capital.
Moving Toward "A World Children's Brand Made in China"
Source Code Capital portfolio company Kaishan announced the completion of a 100 million RMB Series B funding round, with existing investor Source Code Capital continuing to increase its stake.
Kaishan developed its proprietary "Jingxiang" (pure aroma) baijiu, becoming the first company to successfully establish a new aroma-type industry standard.
Growth, Growth, Growth, Growth, Growth, Growth, Growth, Growth, Growth
Grow Into Who You Are
Technology-Powered New Consumer Brands: It's Only Just Begun | Source Code Capital 2019
"Knowledge Capital, Deep Practice" — Source Code Capital's 2019 Ma Hui annual conference brought together the founders and CEOs of Linji Convenience Store, WeiMai, Juli Xinfang, RELX, and Qingzhu Hotel to explore how technology empowers new consumption.
Source Code Capital portfolio company Linji Convenience Store announced the completion of its $30 million Series B round, with existing investor Source Code Capital continuing to increase its stake.
Linji Convenience Store's average daily sales per store exceed 6,000 yuan, with comparable store sales up more than 50% year over year.
Niu Technologies IPO Lands on Nasdaq; 3 Companies Close Funding Rounds; Code Brain Issue 8 Mines India | Code Brain Newsletter · October
【Source Code Capital Newsletter】Here we record the small steps forward taken by our team members, share the joy of growth, and look forward to an even brighter future.
Where Is the Tech Dividend for New Retail in the OMO Era? | Source Code Capital Insights
A typical model for applying technology dividends to new retail.
Decoding New Retail: Online-Offline Integration Opens Up New Possibilities | Source Code Capital 2018
New Trend: OMO
5 Companies Raise Funding, Several Make China's Top 100 Unicorns List | Code Meet Journal · March
【Source Code Capital Chronicle】A place to record the small steps forward of our team members, share the joy of growth, and look toward an even brighter future.
Edianzu Closes $32 Million Series C Led by Source Code Capital
After this round of financing, Edianzu's valuation exceeded $200 million.
