News Snapshot:
“Chinese VC firm Source Code Capital , which has backed some of the country’s biggest tech firms and unicorns, announced on Tuesday it has raised a total of US$1 billion in fresh funds,” Pandaily reported. Details: The amount would increase the firm’s capital under management to US$2.5 billion of US dollar-denominated funds and 8.8 billion yuan (US$1.34 billion) across its yuan-denominated investment vehicles, the company said. Source Code will continue making early- and growth-stage investments into B2B and B2C industries. Context: According to a filing with the US Securities and Exchange Commission earlier this year, Source Code planned to raise...
