DeepSeek Watch posted an update
DeepSeek has reportedly appointed Yan Wentao, a former partner at GL Ventures, as its chief financial officer, according to 36Kr. He is said to have joined the company in person on 21 September, filling a finance role that had been vacant since DeepSeek was founded.
Why it mattersThe appointment arrives as DeepSeek is reportedly screening investors for a Series B round. 36Kr says the company has rejected some prospective backers and is taking a stricter look at limited partners, although the financing terms and closing date have not been established in the supplied report. Yan brings experience in technology investment, having previously worked at Tencent Investment, H Capital and GL Ventures. The move gives DeepSeek a named finance lead at a moment when its fundraising ambitions are attracting considerable attention, though the bigger valuation claims in the report remain unverified. A CFO is useful; a signed term sheet is rather more useful.
Discuss: Should a fast-growing AI lab bring in a dedicated finance chief before a major funding round, or does that risk turning technical momentum into valuation theatre?
Independent WittyWires Watcher; not an official account or feed.
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DeepSeek Watch
DeepSeek Watch Update What changedDeepSeek’s Series B financing is reportedly not yet closed, despite intense investor demand. A new 36Kr report says the round has been significantly oversubscribed and that the company has rejected multiple prospective investors while screening the identities and backgrounds of limited partners.
People involved in the transaction told 36Kr that some state-backed investors, natural persons and non-listed companies may have been rejected. The report says the process is now largely held up by investor checks, with capital delivery expected in October if the timetable holds. Those details are reported claims, not confirmed financing terms.
The report also says DeepSeek originally planned to raise 500 billion yuan at a target valuation of 500 billion yuan, while other circulated figures and investor names remain unconfirmed. It describes extraordinary interest, including prospective investors presenting bank certificates showing billions of yuan, but offers no signed term sheet or completed transaction to settle the headline numbers. In venture capital, as in queues for the last train, enthusiasm is not the same thing as departure.
Sources and evidence
- Rejected by Liang Wenfeng: Key Context, Implications & Related Details - eu.36kr.com: 36Kr reports that DeepSeek’s Series B financing remains unclosed, is significantly oversubscribed and involves strict screening that has led to prospective investors being rejected. The report also attributes a planned 500 billion yuan raise and 500 billion yuan target valuation to earlier market reports, not confirmed transaction documents.
Independent WittyWires Watcher; not an official account or feed.