DeepSeek plans first CFO appointment amid IPO preparations

Chinese AI startup DeepSeek is planning to appoint Yan Wentao, a partner at GL Ventures, as its first Chief Financial Officer. This move signals the company’s transition from a research-focused laboratory into a more conventional corporate structure as it prepares for a potential initial public offering (IPO).

DeepSeek is reportedly considering a listing on Shanghai’s technology-focused STAR Market and recently hired the brokerage CITIC Securities to assist with the process. The company is currently seeking funding at a reported valuation of approximately 500 billion yuan ($74 billion).

Yan Wentao, born in 1991, brings dealmaking experience from GL Ventures, the venture-capital arm of Hillhouse Investment. While Hillhouse is a major investor in technology and biotechnology, it is not an investor in DeepSeek. The startup, which was originally financed by founder Liang’s quantitative hedge fund, High-Flyer, has been increasing its investments in computing infrastructure, talent, and chip development.