[Wuzhen] Source Code Capital's World Internet Conference Trip

The second World Internet Conference opened on December 16 in Wuzhen, a water town in Jiangnan. Yi Cao, founding partner of Source Code Capital, was officially invited to attend the event. Meanwhile, the conference's only designated official publication, Beijing News, selected the "2015 Best Emerging Investment Institution Award," which Source Code Capital won.

The second Wuzhen World Internet Conference instantly transformed this thousand-year-old town into the place with the highest density of global internet heavyweights and influence. The conference was undoubtedly the highest-level, largest-scale global gathering in China's internet sector, and one of the most prestigious internet conferences worldwide. General Secretary Xi Jinping personally attended and delivered a thirty-minute keynote speech without notes. Eight foreign heads of state, nearly fifty foreign minister-level officials, and leaders from more than twenty international organizations were also present.

Major Chinese and international internet industry players and emerging internet companies were key participants: Pony Ma of Tencent, Jack Ma of Alibaba, Lei Jun of Xiaomi, and Richard Liu of JD.com all attended. Yi Cao, founding partner of Source Code Capital, along with other important internet figures including Yiming Zhang of Toutiao (an LP in Source Code Capital) and Xing Wang of Meituan, were officially invited to the conference.

As a representative emerging investor at the conference, Yi Cao has spent eleven years in venture capital, consistently focusing on early-stage investments across fields where information technology drives practical applications. Source Code Capital has maintained particular emphasis on sustained investment and strategic positioning in internet finance, internet+, and related sectors. The conference yielded numerous valuable insights and perspectives.

For instance, at the conference's first forum, participants from academia, government, and industry discussed "Internet Finance: Innovation and Development."

Guo Qingping, Vice Governor of the People's Bank of China, stated that the central bank is accelerating preparations for the China Internet Finance Association. Wu Xiaoling, member of the Standing Committee of the National People's Congress and Vice Chair of the Financial and Economic Affairs Committee, proposed effectively leveraging big data to reduce financial service costs. Peng Lei, Chair of Ant Financial, shared perspectives on how the internet has ushered in a golden age of inclusive finance, noting that balancing social welfare and commercial attributes remains a key challenge — among other valuable contributions.

Beyond these conference takeaways, on the evening of December 16, 2015, the final selection and awards ceremony for the "Finding China's Makers" initiative, hosted by Beijing News — Wuzhen's sole official publication — was also held in Wuzhen. Renowned Chinese entrepreneurs and investors including Liu Chuanzhi, Jack Ma, Lei Jun, Hugo Shong, and Guo Wei attended to present awards to the 2015 China Makers and China's Emerging Venture Capital Institutions. Source Code Capital received the culminating award of "2015 Emerging Investment Institution."

Dai Zigeng, president of Beijing News, noted that over the past seven months, they had followed more than two thousand startups and over one hundred investment institutions. The winning investment institutions were selected through multiple rounds of evaluation and represent emerging funds with prominent standing and active investment records in China.

In his acceptance speech, Yi Cao, founding partner of Source Code Capital, said: "The development of China's VC industry today owes much to the diligence and wisdom of industry pioneers. As a new fund, Source Code Capital must learn from and pay tribute to established institutions. We will also remain committed to our mission of creating long-term value and contributing to the industry."