Yi Cao of Source Code Capital Named to 2019 Forbes Midas List

源码资本·April 3, 2019·0·0

Create Lasting, Real Value

The "Oscars" of global investing — the 2019 Forbes Midas List — was unveiled on April 2 U.S. time. Following his debut on the list in 2018, Yi Cao, founding partner of Source Code Capital, once again received this prestigious honor, often called the "Oscars" of the global venture capital world.

The Midas List takes its name from the ancient Greek myth of King Midas, who could turn everything he touched into gold. Also known as the "Golden Touch" list, it has become synonymous with venture capitalists who possess the keenest judgment and can generate outsized returns.

In 2018, 17 China-background investors made the list, including Cao. In 2019, that number grew to 21, reflecting the rising global recognition of Chinese investors and the expanding influence of China's new-economy startups.

Beyond his consecutive appearances on the Forbes Midas List, Cao has been named to CB Insights' "Top 100 Global Venture Capitalists" for 2019, Wealth (China edition)'s "30 Most Influential Investors in China" for 2018, SINA Corporation's "Top 25 Chinese Investors" for 2017, Wealth (China edition)'s "40 Under 40 Business Elites" for 2016, and Cyzone's "Angel Investor of the Year" for 2016, among other honors.

A Portfolio Balancing 2C and 2B

With 15 years of experience in investment management and industrial innovation, Cao leads the Source Code team in discovering and supporting resilient, bold entrepreneurs across the information revolution landscape, based on their "Three Horizontals, Nine Verticals" investment map.

Over the past five years, Source Code Capital has invested in nearly 150 companies driven by three major forces: "Internet Plus," "Intelligence Plus," and "Global Plus," spanning media and content, consumer services, industrial enterprises, finance, retail, automotive and real estate, education, and healthcare.

In addition to well-known consumer internet (2C) investments such as ByteDance, Meituan, KE Holdings (Lianjia), Ziroom, Qudian, RELX, CHJ Automotive, and Pagoda, Source Code Capital has since 2014 backed outstanding industrial internet (2B) companies including Baibu, YQN Logistics, Yijiupi, Yimi Dida, Xiaoyaoyao, Edianzu, and ZNLH — supporting them from early stages through multiple rounds.

Patient Value Creation Through Post-Investment Support

After five years of growth, Source Code has assembled a team of nearly 60 people across its investment, post-investment, and platform functions. The firm has placed particular emphasis on building post-investment capabilities over the past two years, completing 426 post-investment actions in 2018 alone. It has developed distinctive products and services across human capital, policy research, "Code Brain," brand and public relations, and financing advisory, providing timely assistance to entrepreneurs.

For example, in 2018 Source Code incubated "Code Brain," a product focused on upgrading entrepreneurs' cognitive abilities. Each monthly session brings together dozens of CEOs to collectively enhance their data, algorithms, and computing power — what Cao calls "networked learning."

About Source Code Capital

Founded in spring 2014, Source Code Capital is dedicated to discovering and supporting leader enterprises in the information revolution. The firm currently manages $900 million USD and 3 billion RMB. Its entrusted capital comes primarily from top-tier global sovereign wealth funds, charitable foundations, pension funds, fund-of-funds, and family offices, as well as national guidance funds and major state-owned enterprises.

We adhere to bottom-up thinking and deep research-driven investment. Through our "Three Horizontals, Nine Verticals" investment map, we have gradually built a portfolio of nearly 150 companies driven by "Internet Plus," "Intelligence Plus," and "Global Plus," spanning finance, industrial enterprises, media and content, consumer services, retail, automotive and real estate, and education and healthcare. Portfolio companies include: ByteDance, Meituan (3690.HK), Lianjia, Qudian (NYSE:QD), Asset360, Zhirong Group, Insnail, Cijinrong, Abbotz, Yijiupi, Yimi Dida, Xiaoyaoyao, Edianzu, Baibu, YQN Logistics, Ruigu, Xinchao Media, Pagoda, MOGU (NASDAQ:MOGU), Ziroom, Huizhaofang, Juli Xinfang, CHJ Automotive, Car300, NIU Technologies (NASDAQ:NIU), Hai Feng Education, Knowbox, WeiMai, Huishoubao, RELX, Krazybee, Zenjoy, Bluepay, and others.

We have established a distinctive industry super-connector called "Ma Hui," a mutual-aid alliance comprising more than 30 new-economy leader enterprises and entrepreneurs as LPs, together with nearly 150 Source Code portfolio companies. It provides entrepreneurs with efficient and precise connections, substantive and in-depth resource collaboration, and effective, multi-dimensional experience sharing.