Source Code Capital Entrepreneur Services 2.0: From "Two Pillars" to "Six Wholes"

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"Full Code Ahead for You"

On December 23, 2021, Source Code Capital held its 2021 Entrepreneur Services Report conference, themed "All Code Power for You," in Beijing. At the event, the firm officially announced the upgrade of its post-investment services to the "Code Power Entrepreneur Service Center," and presented its "Six Alls" philosophy. Over one hundred entrepreneurs and investors from the MaHui community participated both online and offline.

Two years had passed since the previous post-investment services report. During that time, through deep understanding of entrepreneurs' needs and continuous refinement of services, Source Code Capital evolved its previous "systematized, productized" service framework into the "Six Alls" entrepreneur service system: full-court assist, full-journey companionship, full-spectrum service; wholehearted commitment, all-hands participation, and full-methodology support.

To date, Source Code Capital has invested in over 300 portfolio companies. The number of entrepreneur services provided grew from 426 in 2018 to 986 in 2021, a 132% increase. In 2021 alone, the firm completed 986 service actions, up 28% from 2020. Of these, 44% served early-stage companies (including seed stage) and 56% served growth-stage companies. Services receiving high-value ratings accounted for 93%.

From "Two-ization" to "Six Alls"

The evolution from version 1.0's "systematized, productized" approach to version 2.0's "Six Alls" took two years of continuous cycles of insight, reflection, and practice.

Entrepreneurs are the users of these services. From the user perspective: Full-court assist means entrepreneur services must deliver tangible results — fast, accurate, and effective — helping founders solve their most pressing problems. Full-journey companionship means coverage across every stage, from seed through early, growth, and mature phases, with content, products, and capabilities to match. Full-spectrum service recognizes that startup needs are multifaceted — strategy, growth, organization, resources — and ensures that whatever domain a founder needs help in, the best professionals in that field are available.

From Source Code Capital's perspective: Wholehearted commitment is the foundational intent. The firm has prioritized entrepreneur services from day one, dedicated wholeheartedly to helping founders succeed. All-hands participation means services aren't limited to the entrepreneur services team alone — they encompass investment, platform, internal and external senior expert advisors, and the entire MaHui ecosystem, achieving "more people, stronger people, more effective collaboration among people." Full-methodology support reflects Source Code Capital's emphasis on fundamental thinking, strategic planning, practical execution, and delivering effective services through scientific methods — a summary of "systematized, productized, and digitalized."

From "Four Horizontals, Four Verticals" to "Four Horizontals, Ten Verticals"

Under the previous "systematized, productized" framework, Source Code Capital built a "four horizontals, four verticals" service map, categorizing entrepreneur needs into four types and service delivery into four solution types — general, customized, supplementary, and preemptive — producing over 20 post-investment service products.

As portfolio companies grew in number, stage diversity, and industry breadth, the firm evolved this to "four horizontals, ten verticals" to better enable full-journey companionship and full-spectrum service. Over two years, the product suite expanded to 30+ entrepreneur service products.

For each new professional service line added, six months of research was required, investigating demand authenticity and supply effectiveness, launching from key pain points with rapid iteration, while extensively recruiting the most advantaged experts or teams in that domain.

Take the capital markets direction: entrepreneurs wanted IPO guidance from Source Code Capital. The firm recognized that finding a matched CFO before the IPO path was clear would be difficult and ineffective. If Source Code Capital could provide a shared CFO — several companies using one together — efficiency would improve and many related issues could be resolved immediately.

After research confirmed demand in this area, Source Code Capital developed a capital markets course series, inviting senior CFOs and investment banking experts from A-share, Hong Kong, and US markets to share deep perspectives, introducing these top industry talents to entrepreneurs. Through this process, the delivery method was further clarified, and Wang Wei was invited to join as Partner to build out capital markets professional services and help portfolio companies develop systematized capital markets capabilities.

For each new product added, providers were required to write a detailed product specification covering application scenarios, delivery processes, and effectiveness evaluation — better helping entrepreneurs understand and access the product. Take the early-stage PR product: the entrepreneur services team found many companies struggled with how to speak publicly in early stages — what to say, how, through which channels, to what extent. After internal discussion and exploration, they decided on video as the format: first providing early-stage companies with a methodology framework for external communication, then assisting with content development and optimization, followed by video interviews and distribution to help them fire their first PR shot. Materials, records, and distribution metrics from the process would then be fully delivered to the company to close the loop.

Each of the 30+ products has many stories behind it. From demand insight, deep thinking, product development and refinement, effectiveness evaluation, to rapid iteration — this is what scientific service delivery looks like.

One robotics-sector B2B company was already in growth stage with roughly 1,000 employees when Source Code Capital invested. They used organization consulting, targeted recruiting, and crisis PR — products widely popular among growth-stage companies — as well as debt financing, where dedicated professionals helped them successfully secure debt capital.

Another example: a consumer-sector B2C company that Source Code Capital began serving at seed stage. At that stage, the firm provided business direction workshops, channel resources, and a startup starter kit. When the company entered early stage, it used Code Brain, market resources, fundraising support, policy interpretation, and targeted recruiting. Upon reaching growth stage, it naturally turned to Source Code Capital for organization consulting, strategy workshops, PA strategy, and crisis PR. This one company's journey exemplifies the process of accompanying entrepreneurs as they grow.

Entrepreneur Service BP and Digitalization

Source Code Capital's entrepreneur services emphasize all-hands participation: more people, stronger people, more effective collaboration among people. On making collaboration more effective, much thought and exploration went in, with one important outcome being the Entrepreneur Service BP (hereafter "ES BP"). The ES BP serves as a connector and accelerator between Source Code Capital and entrepreneurs, as the IP of Source Code Capital's entrepreneur services, and as a little assistant by the entrepreneur's side. Many founders have developed the habit of reaching out to their ES BP with needs — they contact them first to connect with professional resources and solve problems.

If the ES BP represents innovation and optimization in entrepreneur service organization, then "digitalization" is the infrastructure for "full-methodology support," manifested in workflow digitalization and entrepreneur content digitalization.

Digitalization has made Source Code Capital's entrepreneur services more efficient and effective. The entire service process — from demand collection, confirmation, and execution to completion — happens online, and served entrepreneurs can check service progress in real time and provide service ratings.

Meanwhile, as services have expanded, the accumulation of entrepreneur service knowledge has grown increasingly robust. The online platform now hosts over 700,000 words of curated course content, 100+ in-depth articles, and a network of 200+ CEOs. This valuable accumulation of entrepreneurial experience will benefit more founders and embodies the transmission of knowledge and experience.

Don't just see the pain points of entrepreneurship — see the high points too. What Source Code Capital's entrepreneur services team continually does is understand entrepreneurs: their grand dreams and present challenges, their morning optimism and nighttime solitude, their treading on thin ice, and their never-giving-up.

It is this resonance with the entrepreneurial spirit that enables wholehearted commitment and ever-present companionship. The hope is to accompany founders in becoming that change, creating value for entrepreneurs, growing together, and achieving mutual success.

From "two-ization" advancement to "six alls," "post-investment services" has been refreshed as "entrepreneur services." Yi Cao, Founding Partner of Source Code Capital, said: "In the coming years, we have even clearer plans. The Code Power Entrepreneur Service Center will be every entrepreneur's most reliable 'comrade-in-arms.' We will continue alongside resilient, bold entrepreneurs to live up to the era and live up to our mission."