Yungang Huang
黄云刚
Yungang Huang is a partner at Source Code Capital and the founder of Source Code Rhythm, an independently operated early-stage vehicle he launched after joining the firm from Matrix Partners China, where he previously served as a managing director . His investment track record includes bets on Kimi, Unitree Technology, and Galaxy General . In a 2026 elsewhere profile, he described his career path through Matrix Partners China and Source Code Capital before deciding to "start his own business" with Source Code Rhythm . His early experience included an HR internship at Tencent during university .
AI-generated — may contain errors, please verify.
Coverage
Unitree Funding Story Exhibition
Ancient stories always carry a special kind of allure.
2026 MaHui | A Deep Connection Without End
"Like going back to that first MaHui, when we all climbed the Great Wall together..."
Code Moment | Congratulations to METiS Pharmaceuticals on Its HKEX Listing, the World's First AI Drug Delivery Stock
Source Code Capital participated in METiS Pharmaceuticals' angel round in 2020 and continued to increase its stake in subsequent rounds.
Source Code Rhythm Closes Over $150 Million Fund, Focuses on AI and Globalization
Focused on early-stage investing, with independent fundraising, independent decision-making, and independent operations.
Source Code Rhythm has raised over $150 million for its first fund and has launched RMB fund fundraising.
Another oversubscribed early-stage USD fund.
The First USD VC Fund to Close in 2026
What comes after Aksu. *(Note: "阿克苏之后的故事" literally means "the story after Aksu." If this refers to a specific title or context I'm missing — such as a book, film, or article — please provide more details and I can refine the translation.)*
Code Brain | What Did 140+ AI Practitioners Talk About for 3 Hours?
Source Code Capital has gone deep on AI, building out a full-stack presence across foundation models, AI agents, vertical applications, and the underlying infrastructure that supports them.
Source Code Rhythm's Yungang Huang: From Gobi Desert Youth to Fund Captain
The rhythm moves because we believe the world has its own laws.
Yungang Huang, Source Code Rhythm: My Aksu
"West Lake is so beautiful, I want to jump right in."
Vol.003 | In Conversation with Huang Yungang: From Moving Bricks in Xinjiang to VC — My Folded Life
Event Registration | AI Startup Opportunities Hide in Concrete Experiments
January 30, Beijing. See you there.
The Fundraising Stories of China's "Six Little Tigers": Six Paths, Six Lives
If Kimi ever goes public, will the bell-ringing photo look very different?
Where Did the Money Go? Who's Still Writing Checks? A 2025 VC Debrief With Jing Liu
VC takes a certain amount of instinct.
At Volcano Engine's startup forum, no one was talking about AGI?
AI entrepreneurs are starting to do the math for real.
MaHui | Chinese AI Founders' Existential Choice: Models First or Applications First?
At the 2025 MaHui Investor Annual Meeting, a debate unfolded over the critical choices facing China's AI entrepreneurs...
MaHui | Source Code Rhythm's Yungang Huang: Where Are the Next ByteDance and Unitree in the AI and Robotics Era?
I think the sun will shine bright tomorrow morning | Opening Remarks
Maybe wrong, always fun.
Source Code Capital closes new dual-currency growth fund at $600 million
Long-term support and companionship for the great enterprises of this era as they grow.
Four years after its last close, Source Code Capital has raised another fund.
Dual-currency, $600 million.
2024, When Everyone Stands at a Crossroads: 96 Investors' Decisions
Deciding is easy. Waiting is hard.
Consensus Within Non-Consensus: A Conversation Among China's LLM Investors | Yunqi Tech π
New Wave, New Future
When Moonshot AI's investors sat down with MiniMax's investors
Five individuals and two companies.
Source Code Capital AGM Review: Depth Over Breadth
Exclusive | Yungang Huang and Source Code's New VC: Back to Classic Playbook
Back to the classic VC playbook of "a pizza is all it takes."
Code Moment | Yi Cao and Yungang Huang Named to Forbes China 2023 Midas List
Code Engraved | Yungang Huang of Source Code Capital Named to Jiemian News 2023 China Top Venture Capitalists List
Discover the freshest, most active, and fastest-rising forces in the venture capital world.
200 Days of Frenzy: China's LLM Wars Stuck in a Stalemate
Consensus can form quickly — and dissolve just as fast.
Create @ AI Hackathon Opens; Source Code Capital Invites Global AI Developers and Entrepreneurs to Compete
Source Code Capital Named to 36Kr's "Most Entrepreneur-Friendly Investors and Investment Firms" List
What Kind of Investor Does 2023 Need?
AIGC "Peak Series" | GPT-4: 8+2 Notable but Easily Overlooked Points
The only thing limiting us, perhaps, is imagination.
AIGC 'Peak Series' | Investor Who Spent 336 Hours in Silicon Valley Talking with 60+ Experts Invites You to Discuss AIGC Startup Opportunities This Saturday
Welcome to sign up — let's chat together.
Exclusive | Source Code Capital, ZhenFund Confirmed to Join In — Wang Huiwen's "Chinese OpenAI" Is Being Scrambled For
China's investment world seems to have gone back to 2016 overnight.
MaHui | Three Source Code Capital Partners Named to Forbes China 2022 Midas List
Code Moment | Source Code Capital Wins Multiple Awards in Zero2IPO's "2022 China Equity Investment Annual Rankings"
Source Code Capital | Source Code Capital Honored with "Top Investors and Investment Firms Across Ten Innovation Economy Sectors" Awards
From the Big League to the Niche: The Glory Days of a Generation of Chinese VCs
How they will rethink fame, cycles, and investment.
Code Engraved | Keyi Tech Launches Loona, Another Kickstarter Smash Hit
It raised over 1,000 units in just three hours, putting it on track to become the best-selling consumer robot in Kickstarter crowdfunding history.
MaHui | Raysolve Successfully Lights Up Monolithic Full-Color Chip, Powering Revolutionary Breakthrough for AR Glasses
Celebrating National Day
Code View | Power Laws — Understanding Complexity in a Non-Random World
Code View | A Day in the Life of Green Power
MaHui | Multiple MaHui Members Win Awards at HICOOL 2022 Global Entrepreneurship Competition
Code View | Yungang Huang: How Does AI4S Land in Different Stages, Industries, and Markets?
Code View | Yungang Huang: "Cross-Disciplinary Convergence" Drives Innovation in Healthcare
Source Code Capital | Xingshi Wang and Two Other Source Code Partners Named to ChinaVenture "2021 Investors of the Year" Lists
Code Moment | 2022 ZGC Forum Series — AI for Science: Co-Creating the Future, Now Open with Multiple Academicians
MaKe | MaHui Member Hongji Once Again Named to Gartner RPA Magic Quadrant
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.
MaHui | MaHui Member Biren Technology Forms Strategic Partnership with Ping An Technology to Build Industry Benchmark for Domestic Large-Scale Computing Chip Deployment
MaHui | Belief Leap Live: The Starry Sea of the Slash Scholar
Source Code Capital | Source Code Capital Makes the "2022 Most Founder-Friendly Investors / Investment Firms List"
Code Moment | Zero2IPO Releases *2022 "Specialized, Refined, Distinctive, and Innovative" Enterprise Investment and Financing Research Report*
Yungang Huang on Maintaining a Steady, Long-Term Tech Investment Pace Through Peaks and Troughs
MaHui Entrepreneurs | Two 29-Year-Old Genius Scientists and Their "Moon and Sixpence"
Code Moment | Tonight at 8 PM, "Leap" Opens
Yungang Huang Named to "Top 10 Young Partners"
"Partner on the Entrepreneurial Journey"
Xingchen Zhang | Source Code Capital: A Single Grain of Conviction, Betting on Your Leap of Faith
Cross mountains and seas to discover a precious seed.
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 | "Coteya Bio" Announces Oversubscribed Series A Financing of Over 100 Million RMB, Led by Source Code Capital
Addressing a host of global challenges including environmental pollution, carbon emissions, and climate change
MaHui | MaHui Member ONES Acquires SegmentFault to Build High-Quality Developer Community
MaHui | Tonight at 8 PM, Source Code Capital Summer Internship Live Info Session
Code Moment | Source Code Capital Launches 2022 Summer Internship Program
Creating Lasting, Genuine Value
Source Code Capital Portfolio | "Xuanjing Security" Announces Completion of Hundreds of Millions of RMB Series B Financing Led by Source Code Capital
Deep coverage of the enterprise security market
Source Code Capital's Yungang Huang: The Essential Quality for Entrepreneurs Is a Resilient, Bold Spirit of Exploration
We want to be partners on your entrepreneurial journey.
Source Code Capital Portfolio | Nutshell Therapeutics Announces $40 Million Series A+ Round, Existing Shareholder Source Code Capital Continues to Increase Stake
Advance the conformation-based drug discovery platform and innovative pipeline across all fronts
AI-powered molecular simulation company **DeepWise** announced the completion of a Series B funding round of tens of millions of dollars, co-led by **Source Code Capital**.
Building a next-generation microscale industrial design platform to unlock R&D and manufacturing productivity across the industry.
Roundtable | Some "Serious" Thoughts on Startup Services
Full coding power for you
Digital therapeutics company IBT无疆科技 announced the completion of its Pre-A+ funding round, with existing investor Source Code Capital continuing to increase its stake.
Advancing the Commercialization of Next-Generation Digital Therapeutics
Source Code Capital announced that Zheng Yunduan has joined as a partner.
Create Lasting, Real Value
Source Code Capital "Tech + Bio-Med" Investment Open Day Now Accepting Applications
"The Tech + Biotech" Crossover: A New Investment Consensus on Convergent Innovation
Professional, systematic, and patient for the long haul.
Source Code Capital announced that Wei Lai has been appointed as Ecosystem Partner.
Creating Lasting, Real Value
Xianglu Technology, a robotics R&D and application company, announced the completion of a 100-million-yuan angel funding round, with Source Code Capital as the sole investor.
Live Better with Robots
Source Code Capital portfolio company "moody" announced the completion of a Series C funding round exceeding 1 billion RMB, with existing shareholder Source Code Capital continuing to increase its stake.
Strengthen research teams and R&D centers, and accelerate international expansion.
Source Code Capital's Xingshi Wang and Yungang Huang Named MVIP Young Investors of the Year and Best Digital Healthcare Investor
MVIP of the Year, Best Investor in Digital Healthcare.
Synthetic biology company Bota Bio (Enhe Biotechnology) announced the completion of a Series B funding round exceeding $100 million, with existing shareholder Source Code Capital continuing to increase its stake.
Accelerating the design and production of high-performance, sustainable products through synthetic biology.
Allosteric drug discovery company Nutshell Therapeutics has raised $20 million in a Series A round led by Source Code Capital.
Currently the only platform-type allosteric drug discovery company in China driven by computational methods
Personal care brand "Rocking Zoo" announced the completion of two consecutive rounds of funding totaling tens of millions of US dollars, with Source Code Capital participating in both rounds.
Shortlisted for the Tmall Golden Beauty Awards' Rising Star Brand of the Year.
Source Code Capital Closes $1 Billion New Fund Raise
Be the investment firm with the most entrepreneurial spirit
Legal tech company PowerLaw AI announced the completion of a nearly 60 million yuan Series A funding round, led by Source Code Capital.
Using Technology to Make Legal Services Better and More Accessible
Source Code Capital announced that Xingshi Wang has been appointed as partner.
Focus on long-term B2B investments in industrial internet, automotive and mobility, and other enterprise-facing sectors.
Source Code Capital portfolio company "MOODY" announced the completion of 380 million yuan in Series B and B+ funding, with existing shareholder Source Code Capital continuing to increase its stake.
Within three months of its founding, the company launched on Tmall and broke RMB 200 million in transaction volume in its first year.
2021: Original Aspiration Is the Future
Be the investment firm with the most entrepreneurial spirit.
Source Code Capital Closes RMB 3.8 Billion for Fourth RMB Fund
Late-stage investment, qualitative transformation, organizational capability
Source Code Capital Wins Multiple Awards in Zero2IPO's 2020 China Equity Investment Annual Rankings
Create Lasting, Real Value
AI-assisted drug discovery company Galixir announced the completion of a Pre-A funding round of several million US dollars, co-led by Source Code Capital.
J&T Global Express has completed the development of drug discovery modules including retrosynthesis reaction prediction, drug screening, and molecular design.
Source Code Capital's Hongjiang Zhang Ranks No. 1 in China for Third Consecutive Year on Global Top Computer Scientists List
Guide2Research 2020 Global Top 1,000 Computer Scientists h-index Rankings
Forbes Releases Major Rankings, Source Code Capital's Yi Cao and Yungang Huang Make the List
Create lasting, real value.
AI-powered pharmaceutical formulation development company "METiS" announced the completion of a multi-million dollar angel round — Source Code Capital participated as a follow-on investor.
The world's first startup to use AI to drive pharmaceutical formulation development, dedicated to providing drug companies with rapid, precise intelligent formulation R&D through high-throughput formulation platforms and AI computing technologies.
Source Code Capital Closes $570 Million New Fund
Create lasting, real value
Talk to Future Founders: You Can Practice Deliberately Like This
Curious enough to ask, diligent enough to find the answer.
Source Code Capital Wins Seven Awards Including "2018 Most Founder-Friendly Investor/Investment Firm in China"
Creating Lasting, Real Value
3 Companies Close Funding Rounds, 5 Named to 2018 China Future Unicorn List | Source Code Capital Monthly · July
【Ma Hui Journal】Here we record the small steps forward of our friends, share the joy of growth, and look forward to an even brighter future.
Meituan Files for IPO, Three Companies Close Funding Rounds, Code Brain's Sixth Session Visits ByteDance | Ma Hui Journal · June
【Source Code Capital Chronicle】A place to record our teammates' small steps forward, share the joy of growth, and look toward an even brighter future.
Three Trillion-Dollar Markets: Founders on Fast and Slow | Source Code Capital 2018 Ma Hui
Decoding the Rhythm of Entrepreneurship
Hai Feng Education Raises Tens of Millions of Dollars in Series C Funding from TAL Education Group and Source Code Capital
Following its Series B round in July 2017, this marks the second round of funding Hai Feng Education secured within six months.
Source Code Capital 2017: The Year of Establishing Our Footing
Never Settle
