Source Code Capital Launches Yisu Division for Seed Investing – Pandaily

Source Code Capital officially released “Source Code Yisu” on Friday, operating the company’s start-up business independently within the investment system.

Source Code Yisu is led by Zhang Xingchen, general manager of the company. Zhang leads a separate investment team to discover, support and coach “zero-to-one” science-tech entrepreneurs.

Charlie Cao, Founding Partner of Source Code, said, “Since its inception in 2014, Source Code has focused on investing in science and technology driven innovation. Especially in the 2020s, many science and technology entrepreneurs from zero to one are multiplying. Source Code Yisu hopes to continue the original intention of Source Code and promote the birth and growth of more Chinese technology enterprises.

Source Code has invested in more than 140 companies with 20 million yuan or less in the seed stage, including unicorns such as NARWAL, Chu Xin, Ruigu Shop, RELX Technology and Baibu. However, these investments were not made in a systematic way, lacked a corresponding methodology and represented only a small proportion of the total investment.

Zhang Xingchen joined Source Code in 2014. He focuses and invests in industrial digitalization, business services, robotics, semiconductors, AR/VR and other fields. He has an in-depth knowledge of entrepreneurs and will lead science and technology investments from zero to one.

Zhang Xingchen (Source: Source Code Capital)

The name “Yisu” is meant to conjure up “a grain of corn in the great sea”. In his speech at the launch event, Zhang said, “We voluntarily set foot on the mountains and the sea to discover a precious seed, and such a seed contains the entrepreneur and our firm belief.”

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Each member of Yisu’s investment team has at least three years of relevant experience, with varied backgrounds and quick decision-making. During the pilot phase of the first half of 2022, Yisu invested in more than 10 companies with an average decision time of less than a week. The companies she has invested in include those making materials for aircraft engine blades through a new paradigm of AI+ materials to replace imported high-end metal materials. They also include those founded by resigning executives from large factories, either to provide infrastructure for AR/VR interaction or to create cutting-edge AR/VR content platforms.

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