DeepSeek plans to list on Shanghai's STAR Market in 2027 and has hired CITIC Securities to manage the process. The company has asked investors to convert single-deal funds into blind-pool vehicles so that multiple limited partners count as a single shareholder on the exchange. Founder Liang Wenfeng now controls about 70% of the company, which needs tens of billions of dollars in additional capital through 2029 to acquire new compute clusters.
Wednesday, October 21, 2026
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DeepSeek Raises 100 Billion RMB in Doubled Funding Round
Startups8 days ago
Interest from investors exceeded the original goal for the Chinese developer's second investment cycle, leading to a final raise of about Rmb 100bn (approximately $15B). The fundraise's pre-money valuation remained flat at Rmb 500bn despite the amount raised being twice the starting Rmb 50bn target. This increased intake followed the release of a new model, though some deal participants suggest the expanded round serves to finalize a shareholder list before a public offering.
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