China's Source Code Capital closes RMB Fund V at $1.1b

China's Source Code Capital closes RMB Fund V at $1.1b

Source Code Capital, a venture capital (VC) firm that has backed China’s Meituan and TikTok-owner ByteDance, announced on Monday that it has closed its fifth RMB-denominated fund at over 7 billion yuan (almost $1.1 billion).