@sourcecodecapital
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Source Code Capital founder Yi Cao announced at today's "Ma Hui" opening ceremony the successful close of the firm's third fund: the final close of a $260 million Fund III USD vehicle and the first close of a 1.5 billion RMB Fund III RMB vehicle.
Hosted by ChinaVenture and co-organized by ChinaVenture, the 11th "China Investment Annual Conference" was held in Shanghai, where the 2016 "ChinaVenture Annual Rankings" were ceremoniously announced. Source Code Capital received multiple prestigious awards, including "Top 100 Best VC Firms in China" in the 2016 ChinaVenture Annual Rankings, "Top 50 Best Foreign VC Firms in China" in the 2016 VC sub-rankings, and "China's Best..." in the 2016 industry rankings for science and technology.
On March 28, Yongqianbao announced the completion of its Series C funding round. This round was led by BRIC Capital and CICC Alpha; Guoke Jiahe, Source Code Capital, Sinovation Ventures, Guangxin Capital, and other institutions also participated.
On March 20, Cijinrong — a supply-chain finance company that had been operating for seven months — announced the completion of its Series A funding round, raising RMB 65 million led by Source Code Capital, with Matrix Partners China and Yunqi Capital making additional investments.
According to Zero One Finance's *2016 China Consumer Finance Annual Development Report*, P2P consumer finance assets reached 99.1 billion yuan in 2016, up 90.9% year-over-year, with conservative estimates projecting 200 billion yuan for 2017. Consumer finance asset-backed securitization also accelerated: in 2016, 51 consumer finance ABS products were issued for a total of 93.632 billion yuan — 6.76 times the 2015 figure.
Recently, Synced closed its Pre-A funding round, led by ByteDance with participation from Source Code Capital, Xunchan Tou, and 5Y Capital. Going forward, Synced will work closely with these four strategic investors, along with its previous angel investor Legend Star Comet Labs, to deepen collaboration across content, investment, industrial services, project incubation, and technology research in the global AI space — with specific partnership details to be announced in phases.
Domestic logistics network platform Yimidida completed its Series A+ funding round today, raising over 100 million yuan. This round comes just three months after the company's previous Series A round.
The global internet community has once again entered "Wuzhen Time" — the cutting edge of tech and capital is now converging here.
China's venture capital and investment industry has gone from its earliest beginnings to today's scene of a thousand sails competing at the fore in just over a decade. Why has VC become so white-hot? And what does it take to become a great investor? Young people everywhere are eager to find out.
Every year, the Fintech ranking jointly released by H2 Ventures and KPMG is a major event for taking stock of global fintech companies. The 2016 Global Fintech 100 list was recently unveiled. **China claimed five of the top ten spots, with Qudian ranking second, just behind Ant Group**.
