Liang Wenfeng, founder of DeepSeek and quantitative fund High-Flyer, is redirecting his fund toward pre-IPO tech investments in China. In 2026, High-Flyer secured approximately $26 million in pre-IPO allocations for CXMT, a Chinese memory chipmaker, as well as bets on Unitree Robotics. In June 2026, DeepSeek completed a $7.4 billion external funding round, valuing the company at approximately $52 billion. Liang himself contributed around $3 billion (20 billion yuan) to that round. DeepSeek is preparing for an IPO on the Shanghai STAR Market targeted for 2027.
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