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Source Code Capital
Venture capital firm · Founded 2014 · Active in 2026
Source Code Capital is a venture capital firm based in China, founded in 2014. The page below shows 32 Power Law outcomes from Source Code Capital's portfolio — 30 unicorns ($1B+ valuation) and 0 additional thoroughbreds (companies that crossed $100M+ in revenue without yet reaching $1B+ valuation).
Outcomes are concentrated in Transportation · Robotics · AI; top portfolio geographies are China · USA · Mexico. Source Code ranks #403 in Global in the 2026 Dealroom Power Law Investor Ranking by cross-stage outcomes.
Sequoia’s biggest exits.
Sequoia portfolio companies worth $1B+ that have IPO’d or been acquired. Each shows its valuation at exit and, in grey, its current value if still public.
The 32 Source Code Power Law outcomes ($100M+ revenue or $1B+ valuation).
Snapshot of where the outcomes are concentrated by country, sector, and stage entered.
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China29
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USA1
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Mexico1
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Nigeria1
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Transportation6
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Robotics6
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AI5
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Fintech4
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eCommerce & Marketplaces4
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Other2
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Marketing2
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Biotech & Life Sciences1
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Food1
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Space1
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Series B+22
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Series A7
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Seed1
Source Code’s biggest current holdings.
An estimate of Source Code’s largest live positions — disclosed shareholding × Dealroom’s latest valuation — across 5 companies where Source Code is a named shareholder, worth about $576M in estimated equity value.
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1
Baibu
10.5%
$1.5B
$158M
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2
Yijiupi
12%
$1.1B
$132M
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3
Lianjia
2%
$6.0B
$120M
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4
Stori
9.5%
$1.2B
$114M
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5
Galaxy Space
3.5%
$1.5B
$53M
Estimated value = Source Code’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. Source Code also appears inside investor groups in Galbot, METiS Therapeutics, where a standalone stake isn’t disclosed. See the underlying cap tables on Dealroom →
Source Code’s biggest exits.
Source Code portfolio companies worth $1B+ that have IPO’d or been acquired. Each shows its valuation at exit and, in grey, its current value if still public.
LDRobot
Source Code's 32 Power Law outcomes.
How does Source Code stack up?
Source Code in orange, your selection in blue and other colours. Pick from the global roster of 609 peer investors — scope by startup location or hit "Find similar shapes" to auto-pick the three closest. The funnel matrix mirrors the spider chart on the ranking page; the line chart shows each firm's share of unicorns minted in the selected startup location — peaks reveal vintage years.
Share of new unicorns per year
% of global unicorns minted that year, year by year · hover the chart to see which unicornsStage focus
Companies by selected outcome stageSector focus
Companies per investor across the 10 highest-volume sectorsBeyond Unicorns — how the portfolio compounds
% of each investor's unicorn portfolio that later crossed $10B, $25B and $50B. Pick a sort tier and entry stage.Where Sequoia's portfolio founders come from — and where they studied.
24 founders across the 32 Power Law outcomes — split by country of origin, university attended, and the company they worked at before founding. Stanford University and Dianping are the deepest single pipelines.
Key people at Source Code.
Market sentiment
What the market is saying about Source Code Capital
An AI-synthesized read of the highest-engagement posts about Source Code on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
In the news
Latest news about Source Code Capital
Recent press, funding announcements, and portfolio moves mentioning Source Code — pulled live from Dealroom's news feed.
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