Source Code Capital, an early investor in ByteDance, is preparing a $300 million AI fund
Source Code Capital, an early investor in TikTok's parent company ByteDance, is preparing a $300 million artificial intelligence venture capital fund. This is the company's first major investment action since 2021. Sources say the investment amount has not yet been finalized and may change. It is reported that Source Code Capital was founded by former Sequoia China investor Cao Yi and its RMB and USD funds hold about $5 billion. In addition to ByteDance, the company has also invested in food delivery platform Meituan and electric skateboard manufacturer Niuniu.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
THORChain urgently drops ‘risky’ DeFi features amid $199 million debt
Community anticipates restructuring plan following ThorChain's insolvency and RUNE price volatility.
BlackRock files for ETF rule change to enable in-kind Bitcoin redemptions
BlackRock's proposal for in-kind redemptions may simplify Bitcoin ETF operations and lower tax implications for investors.
Jump sues former Firedancer Solana client engineer
The lawsuit illustrates a tension between the ethos of the open-source crypto world and the reality of doing business with institutions
MicroStrategy Brings Forward Debt Repayment in Optimistic Strategy
Trending news
MoreCrypto prices
More
