ByteDance's early investor Source Code Capital is preparing a $300 million artificial intelligence fund

ChainCatcher news, Source Code Capital, an early investor in TikTok's parent company ByteDance, is preparing a $300 million artificial intelligence venture capital fund. This marks the company's first major investment action since 2021. Sources added that the investment amount has not been finalized and may vary. It is reported that Source Code Capital was founded by former Sequoia China investor Cao Yi, and its RMB and USD funds hold approximately $5 billion. In addition to ByteDance, the company has also invested in the food delivery platform Meituan and the electric scooter manufacturer Niu.