Zijing Wu
@zijing-wu.bsky.social
Technology and all things interesting @FT in HK. Returning to journalism (ex BBG) after a decade as investor/entrepreneur. Still an idealist. Opinions mine.
DeepSeek’s fundraise might be the most bizarre in tech history:
* No CFO, no roadshow, and 1 email to submit commitments
* No voting rights, no board seats, and 5Y lockup
* Cleaning up shady SPVs charging 15–40 fees ahead of IPO
Absolute founder mode.
as.ft.com/r/37de9258-8...
* No CFO, no roadshow, and 1 email to submit commitments
* No voting rights, no board seats, and 5Y lockup
* Cleaning up shady SPVs charging 15–40 fees ahead of IPO
Absolute founder mode.
as.ft.com/r/37de9258-8...
DeepSeek fundraising frenzy spawns costly shadow market
New investment round triggers rush of vehicles with escalating fees and five-year lock-ups
as.ft.com
September 9, 2026 at 2:22 AM
DeepSeek’s fundraise might be the most bizarre in tech history:
* No CFO, no roadshow, and 1 email to submit commitments
* No voting rights, no board seats, and 5Y lockup
* Cleaning up shady SPVs charging 15–40 fees ahead of IPO
Absolute founder mode.
as.ft.com/r/37de9258-8...
* No CFO, no roadshow, and 1 email to submit commitments
* No voting rights, no board seats, and 5Y lockup
* Cleaning up shady SPVs charging 15–40 fees ahead of IPO
Absolute founder mode.
as.ft.com/r/37de9258-8...