Source Code Capital Wins Multiple Awards in Zero2IPO's 2020 China Equity Investment Annual Rankings
Create Lasting, Real Value

On October 15, 2020, the "20th China Annual Equity Investment Forum" hosted by Zero2IPO and PEDaily concluded successfully in Zhuhai, with the highly anticipated "Zero2IPO 2020 China Annual Equity Investment Rankings" unveiled. Source Code Capital took home five major awards in this year's selection:
- 2020 China Top 100 Venture Capital Firms (TOP 22)
- 2020 China Top 30 Internet/Mobile Internet Investment Firms
- 2020 China Top 30 Cultural Consumption & Lifestyle Investment Firms
- 2020 China Top 10 Artificial Intelligence Investment Firms
- 2020 China Top 10 Enterprise Services Investment Firms
Founded in spring 2014, Source Code Capital is dedicated to identifying and supporting leading enterprises in the information revolution. After six years of development, the firm currently manages $1.5 billion USD and 5 billion RMB, having earned sustained long-term recognition from top global sovereign wealth funds, university endowments, charitable foundations, pension funds, funds-of-funds, family offices, leading corporations, and other premier institutional and strategic investors, as well as national guidance funds and major state-owned enterprises.
Following its "Three Horizontals, Nine Verticals" investment map, Source Code Capital has invested in over 150 outstanding companies, including ByteDance, Meituan (3690.HK), KE Holdings (NYSE: BEKE); Li Auto (NASDAQ: LI), NIU Technologies (NASDAQ: NIU), RELX, Cloud Whale, Ziroom, Juli Xinfang, Huizhaofang, Pagoda, Meili United (NYSE: MOGU), Xinchao Media, Walnut Coding, WeiMai, Huishoubao, Linji, Qingzhu, Chayan, WANGBAOBAO; Yijiupi, Yimi Dida, Xiaoyaoyao, Baibu, Edianzu, ZNLH, Keenon Robotics, Chuxin, YQN Logistics, Ruigu, CassTime, Car300; Qudian (NYSE: QD), Asset360, Insnail, Cijinrong, Abbotz; KrazyBee, Zenjoy/ME2ZEN (KOSDAQ: A950190), BLUE, and OPay.
The Source Code Capital team has also grown from its initial dozen or so members to nearly 80 professionals across investment, portfolio services, and platform functions — forming a multi-dimensional team unified at the foundational level but drawing perspectives from investment management, product and technology, advisory consulting, media, and other fields.
Since 2001, Zero2IPO has published its China Annual Equity Investment Rankings for 19 consecutive editions, adhering to rigorous research methodologies and fair, impartial ranking principles aimed at providing a sound evaluation and reference system for China's equity investment market. Through two decades of persistence and accumulation, the Zero2IPO rankings have garnered strong support and recognition from domestic and international investment institutions, with the annual awards ceremony becoming an indispensable industry gala.
For this year's rankings, Zero2IPO collected data through multiple dimensions and rich channels including its PEdata platform and online research questionnaires; rigorously categorized lists according to market and industry developments; and employed professional, scientific, and quantifiable methods to analyze and filter institutions from multiple angles including investable China capital under management, fundraising amounts, investment case volumes, and comprehensive return levels. Ultimately, based on detailed data, real market conditions, and scientific standards, the rankings selected dozens of lists across five major categories — VC/PE comprehensive, investment strategy and industry-focused, case-based, and intermediary — comprehensively reflecting true market development and competitive landscape from every dimension.
Detailed rankings below:






More Source Code Capital Honors
- Forbes releases major rankings, Source Code Capital's Yi Cao and Yungang Huang make the list
- Source Code Capital's Yi Cao makes 2019 Forbes Midas List
- Source Code Capital wins five major awards including Zero2IPO 2018 China Top 50 Venture Capital Firms
- Source Code Capital and portfolio companies win multiple awards at 36Kr 2018 New Economy Kings
- 2018 Global Top 1000 Computer Scientists h-index released, Dr. Hongjiang Zhang ranks #1 in mainland China
- "Oscars of Global Investing" unveiled, Source Code Capital's Yi Cao makes Forbes 2018 Midas List
- Source Code Capital's Xingshi Wang named to 36Kr "China Auto & Mobility Top 10 Most Discovery-Focused Investors"
- Source Code Capital named 36Kr "VC Firm Most Popular Among LPs," Founding Partner Yi Cao named "VC Investor Most Popular Among Entrepreneurs"
- Source Code Capital wins Zero2IPO and PEDaily "2017 China Top 50 Venture Capital Firms" and "2017 China Top 10 Fintech Investment Firms"
- Source Code Capital named to China Top 50 VC Firms
- Source Code Capital's Yi Cao named to 2017 China Top 50 VC Investors
- Source Code Capital named to 2017 China Top 30 B2B Investment Firms
- Source Code Capital wins China's new finance top investment firm and investor awards
- Source Code Capital named "China Top 10 AI Investment Firm"
- Source Code Capital's Yi Cao named "China Top 10 AI Investor"
- Source Code Capital wins 2016 China Top 50 Best Venture Capital Firms, China Top 20 Best Foreign Venture Capital Firms, and China Top 10 Tech-Finance Industry Best Investment Firms
- Source Code Capital's Yi Cao named Cyzone "2016 Investor of the Year"
- Source Code Capital's Yi Cao wins Cyzone "2016 China Angel Investor of the Year"
- Source Code Capital's Yi Cao makes 2016 ChinaVenture-FT China Top 100 Leaders of Investment
- Source Code Capital's Yi Cao named to Cyzone "40 Under 40 Investors"
- Source Code Capital wins 2015 China Top 50 Best Foreign Venture Capital Firms
- Source Code Capital wins three annual awards from leading VC authorities in 2015
