Yi Cao (also known as Charlie Cao) is the Founding Partner of Source Code Capital. See sector focus and contact routes.
Yi Cao (also known as Charlie Cao) is the Founding Partner of Source Code Capital, a Beijing-based venture capital firm he established in 2014 after previously serving as a vice president at Sequoia Capital China. His investment thesis centers on three fundamental drivers—“Internet+,” “AI+,” and “Global+”—across nine sectors including fintech, media, healthcare, education, and industry B2B, with a focus on early-stage telecommunication, media, and technology (TMT) companies. Source Code Capital specializes in seed, early, and growth-stage investments and manages close to $500 million in USD and RMB 1.5 billion, though specific check sizes and lead/follow behavior are not publicly detailed. Notable portfolio companies include ByteDance, Meituan, Li Auto, and Niu Technologies, with an early $4 million investment in ByteDance in 2014 that later grew to over 300 times its original value. Cao Yi distinguishes his approach through the “Code Class,” an inner circle of founders and veterans from nearly 30 leading Chinese IT firms that links industrial and financial capital to form a strategic innovation alliance. He has publicly articulated that as “Internet+
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