China's DeepSeek hires dealmaker as CFO ahead of possible IPO

China's AI startup DeepSeek has appointed a dealmaker as its first chief financial officer, signaling its transition towards a more traditional corporate structure ahead of a potential initial public offering. Yan Wentao, a partner at venture-capital firm GL Ventures, will assume the CFO role, bringing with him extensive dealmaking experience.

This appointment comes as DeepSeek prepares to hire CITIC Securities to assist with its upcoming listing on Shanghai's STAR Market. The CFO's role will be crucial in managing investor relations, financial controls, capital allocation, and disclosure processes required for the IPO. The sources of this information preferred to remain anonymous as they were not authorized to speak publicly on the matter.

DeepSeek, founded by Zhang Lei, is valued at approximately 500 billion yuan ($74 billion) in a recent fundraising round. The company has been increasing investments in computing infrastructure, chip development, and talent to stay competitive in the global AI race.