源码11岁，刚刚募集6亿美元

Core Viewpoint - Source Code Capital has successfully raised a new growth fund with a total scale of $600 million, focusing on "AI+" and "Global+" investment directions, marking a significant event in the domestic VC landscape [2][3][5]. Investment Focus - The new growth fund will concentrate on two main areas: - AI+: Emphasizing AI technology development, particularly in consumer and enterprise applications, addressing critical issues in the AI supply chain, and facilitating large-scale commercialization of AI [5]. - Global+: Focusing on smart hardware and software applications, exploring opportunities for China's comprehensive capabilities in global markets [5]. Fund Structure - The investment period for the new fund is set at 5 years, with an exit period of 20 years, resulting in a total lifespan of 25 years, which is longer than the typical 7-10 year duration of domestic funds [8][9]. Strategic Direction - Source Code Capital aims to adopt a "less but better" approach, focusing on fewer projects with long-term support to help innovative companies navigate uncertainties and achieve sustainable growth [9]. - The firm emphasizes the importance of patient capital in the current investment landscape, addressing the mismatch between fund duration and company growth [9]. Historical Context - Since its establishment in 2014, Source Code Capital has invested in over 300 startups across various sectors, including AI, robotics, smart manufacturing, and life sciences, with notable projects such as ByteDance and Meituan [6].