Founder of DeepSeek's magic square quantitative strategy achieved a 56.55% return last year, with assets under management exceeding 700 billion yuan

January 14 – According to data from private placement platform RankingBall cited by 21st Century Business Herald, Huansquare Quant—founded by DeepSeek’s Liang Wenfeng—delivered an average annual return of 56.55% in 2025. It ranked second among Chinese quantitative private funds with over 10 billion yuan in assets under management (AUM), trailing only Lingjun Investment (73.51% return). Huansquare’s AUM has now exceeded 70 billion yuan. Its 3-year and 5-year average returns stand at 85.15% and 114.35%, respectively, per RankingBall. Analysts note Huansquare’s strong performance has provided ample R&D funding for DeepSeek, Liang’s AI firm. Founded in 2008 while Liang was a graduate student in Information and Communication Engineering at Zhejiang University, Huansquare is a hedge fund rooted in math, computation, and AI. It crossed 10 billion yuan in AUM in 2019 and once topped 100 billion yuan in 2021. DeepSeek is set to launch its flagship AI model, DeepSeek V4, in February. Boasting robust programming capabilities, the model is expected to shake up the current AI competitive landscape. (Source: Jiemian News)