Today, Source Code Capital announced that Mr. Wang Wei officially joined as a Partner. With over 10 years’ experience, Mr. Wang is a highly seasoned professional in capital markets. Previously, Mr. Wei Wang was Vice President and Secretary of the Board at 360 Security Technology Inc. Before that, Mr. Wang held multiple roles in investment banking and fortune capital. He was also involved in capital market operations, and served as Vice President, Board Secretary, and CIO for several listed companies.
With Mr. Wang on-board, Source Code Capital now has five Partners (including Mr. Wang), one Venture Partner, and a total of nearly 80 investment, post-investment and platform team members. Cao Yi, Founding Partner of Source Code Capital, said, “We warmly welcome Wang Wei into the Source Code Capital team. After six years of development, Source Code Capital has now entered a new stage where more and more portfolio companies are ready to list. The addition of Wang Wei will greatly help our portfolio companies successfully seek listings in the A share, as well as on the U.S. and Hong Kong exchanges. His rich experiences in capital markets will provide our organization with a new competitive edge, with vitality, and innovation. He also has a deep and multi-leveled understanding of entrepreneurship and entrepreneurs, as from his previous roles he acquired valuable experience working with many outstanding technology- driven companies.”
“Over the past six years, Source Code Capital has also created within our organization a ‘Special Forces’ concept, which include both the Early and Growth stage investment teams, and an ‘Arsenal’, which includes professionals in the post-investment and the platform teams. The capital markets section, which is under the responsibility of Wang Wei, is an important tool in the ‘Arsenal,’ designed to provide support to both investment teams and portfolio companies, helping entrepreneurs in which Source Code Capital invested in, to become even more efficient in their respective fields.”
After coming on-board, Wang Wei will primarily help Code Class portfolio companies in the capital markets business. With his rich experience and expertise in that particular field, he will be able to empower and fulfill portfolio company needs in terms of capital markets development. Before joining Source Code Capital, he was also involved in capital market operations, and served as Vice President, Board Secretary, and CIO for several listed companies with capitalizations of RMB 10-100 billion, across the TMT, semiconductors, intelligent manufacturing and other sectors. Key projects include 360 Total Security, GigaDevice, Ingenic, Xunyou.com, and Suzhou Good-Ark Electronics.
Upon joining, Wang Wei said, “I am very happy to join Source Code Capital, and I want to thank Cao Yi and his team for their trust. In a period where the macro and capital markets environment is rapidly changing, companies and investors alike are presented with great opportunities and challenges. There are many variables, but Source Code Capital still maintains its original intention, based on empowerment and long-term companionship. Source Code Capital is constantly strengthening connections and interactions with its enterprises, promoting an in-depth exploration of companies’ values, to achieve better growth and mutual success. I highly agree with Source Code Capital’s value system, to “create real enduring value.” I am looking forward to work side-by-side with the team, in order to help companies establish more connections with the capital markets, and accelerate the expansion of corporate strategy and capabilities through capital operations. I hope to join hands with entrepreneurs to embrace major changes in the capital markets, grasp the major historical opportunities of industry and capital, and witness the dawn of this great era together.”
Source Code Capital has announced the closing of its most recent RMB fund at RMB 3.8 billion. With the completion of this successful RMB Fund IV fundraise, the total funds under management at Source Code Capital have now reached a grand total of USD $1.5 billion and RMB 8.8 billion.
In addition, Source Code Capital’s investment team has already achieved professional division and organic cooperation between the Early-stage and Growth-stage teams. This allows Source Code to better support promising companies from Early- to Growth-stages, through continuous investment and continuous guidance.
A combination of both Early and Growth perspectives can lead to a more comprehensive vision and a scientific decision. It also ensures that the investment team has a more accurate overall view of the industry and stages. This allows them to enhance their value judgment, which in return can provide Code Class members with more support on both board and strategic levels across different stages.
Until now, Source Code Capital has partnered with nearly 200 companies across many different sectors, such as media and entertainment, consumer services, enterprise, finance, retail, transportation, housing, education, and healthcare. Today, its family of portfolio companies include: ByteDance, Meituan Dianping (3690.HK), KE Holding (NYSE:BEKE); Li Auto (NASDAQ:LI), NIU Technologies (NASDAQ: NIU), RELX Technology, Narwal Robotics, Ziroom, Julive, Huizhaofang, Pagoda, Meili Inc. (Mogujie) (NYSE:MOGU), XinChao Media, Walnut Coding, Weimai, Huishoubao, Linji Convenience Store, Qing Hotel, Cha Yan Yue Se, WangBaoBao; Yijiupi, Yimidida, XiaoYaoYao, BaiBu, Edianzu, Zhongneng United, Keenon Robotics, Honganrobots, YQNLink, RuiGuShop, Cassmall, Che300; Qudian (NYSE: QD), Asset360, Insnail Hospital, Magnet Finance, ABC FinTech; KrazyBee, Zenjoy/ME2ZEN (KOSDAQ:A950190), BLUE, and OPay.
Self-drive, truth-seeking, openness, curiosity and striving for excellence are core qualities valued by everyone at Source Code Capital. The continuous iteration of its organization makes collaborations within Source Code Capital more efficient, and enables the team to continue to grow in an open and honest atmosphere. At the same time, Source Code Capital is constantly looking to add new talents to strengthen its ‘Special Forces’ and ‘Arsenal’ teams. Source Code Capital will continue to work hand-in-hand with the dedicated, audacious, and creative entrepreneurs to promote business transformation, and rely on the compounded power of technology and capital to create real enduring value, to make society happier, make life better, and make businesses smarter.
