The "Oscars of Global Investing" Unveiled: Source Code Capital's Yi Cao Makes Forbes' 2018 Midas List

源码资本·April 4, 2018·0·0

The "Oscars" of global investing — the 2018 Forbes Midas List — was unveiled on the evening of April 3, U.S. time. Among the 100 top investors on this year's list, 17 were of Chinese background. Yi Cao, founding partner of Source Code Capital, was among this year's honorees, making him the youngest entrant on the list.

The "Oscars" of global investing — the 2018 Forbes Midas List — was unveiled on the evening of April 3, US time. Among the 100 top investors on this year's list, 17 were of Chinese background. Yi Cao, founding partner of Source Code Capital, was among this year's honorees and also the youngest entrant on the list.

The Forbes Midas List takes its name from the ancient Greek myth of King Midas, who could turn everything he touched into gold. It is also known as the "Golden Touch" list, and its annual release is considered the "Oscars of venture capital." The "Golden Touch" list has long been renowned for its professionalism, rigor, and authority — it is synonymous with venture capitalists who possess "the most discerning eyes and the ability to generate outsized returns."

On the 2018 Forbes Midas List, 17 investors from China made the cut, reflecting the steadily growing weight and standing of Chinese VCs in global markets. Neil Shen of HSG claimed the #1 spot globally this year, maintaining and extending the best-ever showing for a Chinese investor.

Yi Cao founded Source Code Capital in 2014. The firm's investments span "Internet" (financial internet, industrial internet, service internet), "Intelligence+," "Global+," and other innovation sectors. Source Code Capital currently manages $750 million and 3 billion RMB, with limited partners including sovereign wealth funds, charitable foundations, pension funds, fund-of-funds, family offices, as well as national guidance funds and large state-owned enterprises. Its LP base includes more than 20 new-economy leaders who form an industrial capital investor alliance called "Ma Hui."

Representative portfolio companies include: Qudian, Grayson Wealth, Yinker Group, Zhirong Group, Suishou, Asset360, and Cijinrong in financial internet; Yijiupi, Yimi Dida, Baibu, Zhangshangkuaixiao, Ruigu, and Nongfenqi in industrial internet; Meituan, Lianjia, Ziroom, MOGU, Pagoda, Hai Feng Education, Juli Xinfang, Huizhaofang, and Edianzu in service internet; as well as Toutiao and CHJ Automotive in "Intelligence+," and Zenjoy and Mybo in "Global+."

Beyond the 2018 Forbes Midas List, Yi Cao has received numerous prestigious awards from leading media outlets, including: "2017 China Top 25 Investors," Wealth (China edition) "2016 40 Under 40 Business Elites," Cyzone "2016 China Angel Investor of the Year," iheima "2016 Investor of the Year," ChinaVenture-Hurun "2016 China Best Venture Capitalist," 36Kr "2017 Top 10 AI Investors in China," and "Top 10 China Fintech Investors."

2018 MIDAS LIST: China Investors Ranking

1 Neil Shen — HSG

8 JP Gan — Qiming Venture Partners

13 Kui Zhou — HSG

20 Hans Tung — GGV

23 Xiaojun Li — IDG Capital

24 Bob Xu — ZhenFund

42 Allen Zhu — GSR Ventures

59 James Mi — Lightspeed

61 Erhai Liu — Joy Capital

64 Hurst Lin — DCM

73 Yi Cao — Source Code Capital