Huang Yungang is known as the investor who has invested the most from Zhejiang University entrepreneurs, maintaining unusually deep ties to that founder community through his alma mater connections and regular campus visits. He distinguishes himself through hands-on field research—personally interviewing taxi drivers during his early ride-hailing investments—and his conviction-based early backing of AI companies like Moonshot AI and robotics firms, leading to his 2024 spin-out of Source Code Rhythm as a return to classic early-stage VC.
About their Fund
Source Code Capital
Sectors
AI, Robotics, Chips, Energy, Consumer
Rounds
Seed - Series B+
Avg Check Size
Notable Investments
Source Code Capital is led by founding partner Yi (Charlie) Cao, an early seed investor in ByteDance and former Sequoia Capital China VP, and has built its reputation by backing China's defining super-platforms like ByteDance and Meituan extremely early in their development. The fund operates Code Class, a strategic alliance of 30+ leading Chinese New Economy companies and ~150 portfolio companies that functions as a cross-portfolio mentorship and deal-flow hub, while aggressively building AI-specific and embodied AI portfolios as one of China's go-to AI capital providers.
Other partners at the fund
Notable Fund
Investments
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Sheets they're in
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Sheets they're Fund is in
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Popular Investors
investor name
Active in
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Deeptech / Hardware
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Robotics
Biotech
+
12
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Unknown
Pre-Seed - Seed
Unknown
$400K - $2M
Unknown
Defense
Deeptech / Hardware
Energy
+
7
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Unknown
Pre-Seed - Series A
Unknown
$100K - $5M
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Defense
Deeptech / Hardware
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+
7
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Unknown
Pre-Seed - Series A
Unknown
$100K - $5M
Unknown
Biotech
Health
Deeptech / Hardware
+
2
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Unknown
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Unknown
$250K - $2M
Unknown
Climate
Deeptech / Hardware
Materials
+
4
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Unknown
Pre-Seed - Seed
Unknown
$400K - $1.5M
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Deeptech / Hardware
Robotics
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+
7
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Unknown
Pre-Seed - Seed
Unknown
$400K - $2M
Unknown
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Deeptech / Hardware
Robotics
Biotech
+
2
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Unknown
Pre-Seed - Seed
Unknown
~$750K
Unknown
Fintech
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Devtools
+
2
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Unknown
Pre-Seed - Series A
Unknown
$250K-$1M
Unknown
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