High-Flyer Quant

High-Flyer Quant (幻方量化) is a Chinese quantitative hedge fund founded by Liang Wenfeng — who, as 暗涌Waves tells it, skipped the big-tech programmer track after graduation and holed up in a cheap Chengdu rental, failing at various scenarios before landing on finance, one of the most complex ones, and starting the firm . Unlike nearly every other top Chinese quant shop, whose founders carry US or European hedge-fund pedigrees, High-Flyer was built entirely from a homegrown team that figured things out on its own; by 2021, six years in, it had reached the hundred-billion-yuan scale and was dubbed one of the "four kings of quant" .

Today it is best known as the parent company of DeepSeek , and the two are inseparable in how people explain the lab: High-Flyer's profits made DeepSeek its own backer , and its 10,000 Nvidia A100 chips meant it held a ChatGPT ticket earlier than many big tech firms . As a 峰瑞资本 report puts it, the fund's "engineering gene" — nanosecond-level execution, FPGA customization, embedding assembly in C — carried directly into DeepSeek's V3, whose GPU optimization bypassed CUDA to program in PTX . High-Flyer itself attributes its edge to "hiring inexperienced people with potential" and an organization built to let innovation happen — a culture it argues is exactly what lets a model startup compete with the giants .