DeepSeek Appoints First CFO Yan Wentao, Starts Sept 21: what are the key facts?

On September 21, Hillhouse Venture Capital partner Yan Wentao joined DeepSeek as its first CFO.

DeepSeek Appoints First CFO Yan Wentao, Starts Sept 21: what are the key facts?

DeepSeek has been in existence for more than three years and previously had no CFO; it began publicly recruiting for the position in February 2025.

DeepSeek Appoints First CFO Yan Wentao, Starts Sept 21: what are the key facts?

In April of this year, DeepSeek launched its first external funding round, completing it in June and raising about 50 billion yuan.

DeepSeek Appoints First CFO Yan Wentao, Starts Sept 21: what are the key facts?

In mid-July, the company launched a second funding round, planning to raise another 50 billion yuan at a pre-money valuation of 500 billion yuan.

DeepSeek Appoints First CFO Yan Wentao, Starts Sept 21: what are the key facts?

The company has hired investment banks to prepare for a STAR Market listing and plans to file as early as the end of this year.

Physix Frontier · News Briefing Card (enbrief · Sep 29, 2026)

DeepSeek Appoints First CFO Yan Wentao, Starts Sept 21

KEY FACTS

On September 21, Hillhouse Venture Capital partner Yan Wentao joined DeepSeek as its first CFO.
DeepSeek has been in existence for more than three years and previously had no CFO; it began publicly recruiting for the position in February 2025.
In April of this year, DeepSeek launched its first external funding round, completing it in June and raising about 50 billion yuan.
In mid-July, the company launched a second funding round, planning to raise another 50 billion yuan at a pre-money valuation of 500 billion yuan.
The company has hired investment banks to prepare for a STAR Market listing and plans to file as early as the end of this year.

KEY DATA

约500亿元First-round funding amount

5000亿元Second-round pre-money valuation

750亿美元Latest valuation

10亿美元Annualized revenue

PHYSIX OBSERVATION

The CFO's arrival is not about filling a gap but a signal that DeepSeek is shifting from technology-driven to capital-driven. The second funding round's LP screening and the STAR Market preparation both require a professional capital operator. For the industry, leading large-model companies are collectively entering a listing race, and financial governance capability will become the dividing line in the next stage.

Source: enbrief original report ↗