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Since 2019, Source Code Capital has backed 1 African startup across 3 disclosed funding rounds totaling $570M, most heavily in Nigeria and Fintech.
Source Code Capital is a Beijing-based venture capital firm founded in 2014. The firm invests in early- and growth-stage companies across sectors including Internet+, AI+, and Global+, with a team of over 80 professionals led by partners such as Cao Yi, Huang Yungang, and Wang Xingshi. It manages total assets of USD $2.5 billion and RMB 8.8 billion as of 2021, following a USD $1 billion fundraise. In Africa, Source Code Capital invested $570 million across three rounds in Nigeria from July 2019 to August 2021, targeting fintech exclusively. The firm participated in Opay's Series A ($50 million, July 2019), Series B ($120 million, November 2019), and Series C ($400 million, August 2021), demonstrating a focus on Series A through C stages. Co-investors included HongShan, SBVA, Redpoint, GSR Ventures, and others. Source Code Capital maintains 'Code Class,' a proprietary network of over 300 entrepreneurs, limited partners, and partners for resource sharing and collaboration.
Data updated · Mar 27, 2026
Source Code Capital has backed 1 African startup across 3 disclosed funding rounds tracked on Liners, totaling $570M since 2019.
Mostly Series C: 1 of its 3 tracked rounds are at that stage, followed by Series B (1).
Source Code Capital's tracked rounds are concentrated in Nigeria (3).
Its tracked rounds lean toward Fintech (3).
Source Code Capital backed Opay, a Nigerian fintech company offering transfers, bill payments, and savings via mobile wallet. It invested in Opay's Series A, Series B, and Series C rounds.
Source Code Capital is based in Beijing, China. Its address is 2F, Block C, Lei Shing Hong Center, No.8 Guangshun South Street, Chaoyang District.
