DeepSeek Investment Quota Market Faces High Fees and False Share Claims

Some intermediaries in the market are reportedly offering DeepSeek investment quotas with terms of 18% upfront and 35% on the back end, meaning an investor putting in 100 million yuan would first pay 18 million yuan in fees and later give up 35% of returns. According to ChainCatcher, even investors who accept the high fees cannot be sure they will ultimately receive an allocation. DeepSeek conducts identity checks on participating investors and the limited partners behind funds, and the related investments carry a five-year lock-up period during which transfers are not allowed. According to ChainCatcher, aside from the National AI Industry Investment Fund, most external investors do not have voting rights or board seats and only share financial returns in proportion to their capital contribution. The report also said false claims about investment quotas and intermediary activity have emerged around DeepSeek financing. Some institutions claimed to control large allocations but were not included in the final investor list, while one investor reportedly paid a 5 million yuan meeting fee in an attempt to contact Liang Wenfeng without success.