According to a report by technology news outlet The Information, citing individuals with knowledge of the matter, Chinese AI company DeepSeek has completed its first funding round, raising over 50 billion yuan (RMB) through a special transaction structure.
Following this round, DeepSeek's valuation has surpassed 50 billion US dollars (approximately 390 billion Hong Kong dollars).
It is reported that DeepSeek's founder, Liang Wenfeng, personally contributed 20 billion yuan, making him the largest investor in this round.
TENCENT invested 10 billion yuan; Contemporary Amperex Technology Co.,Ltd. invested 5 billion yuan; JD.com, NetEase, and IDG Capital each invested 3 billion yuan; the National Artificial Intelligence Industry Investment Fund contributed 1 billion yuan.
Sources stated that investor funds must be injected into a limited partnership enterprise managed by Liang Wenfeng, rather than being directed to DeepSeek's main corporate entity directly.
This structure is designed to ensure Liang Wenfeng retains absolute control over the company.
Simultaneously, all investor shares are subject to a five-year lock-up period, during which they cannot be transferred.
Furthermore, investors do not possess voting rights in DeepSeek but are entitled to receive priority financial information and have preferential investment rights in potential future funding rounds.
The sole exception is the National Artificial Intelligence Industry Investment Fund, which invested directly into DeepSeek.
This fund's 1 billion yuan investment is not bound by the share lock-up period and does carry voting rights.
Sources also mentioned another unique clause in this funding round: Liang Wenfeng's team required verification of the ultimate beneficial owners behind all investing funds.
This measure aims to mitigate the risk of equity ultimately flowing into undisclosed entities.
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