Baidu Ventures CEO responds to missing out on DeepSeek: We are the VC above it, and we didn’t invest because Huanfang has plenty of money

DeepSeek has recently become a hot topic, with VCs collectively missing out on the opportunity and causing widespread discussion. As an investment institution located upstairs from DeepSeek, Baidu Ventures has also sparked a lot of discussion for missing out on investing in DeepSeek. According to today's report by Lei Di, Baidu Ventures CEO Gao Xue responded to this matter by saying, "We are just a VC located upstairs from DeepSeek. At the first opportunity when DeepSeek moved into the Rongke Information Center in May 2024, we visited their relevant personnel and maintained friendly interaction. However, because the large model business of the illusionary square has not been split into an independent financing plan, like other VCs, we have not been able to become investors in DeepSeek." Gao Xue further explained, "Baidu Ventures is BV Baidu Ventures, not Baidu's investment department. Baidu Ventures is an independent venture capital institution established by Baidu Group in 2017."