Rumor has it that ByteDance has hired a former Coatue executive to speed up the investment layout of the AI industry

The Zhitong Finance App learned that recently, news broke in the market that ByteDance hired a former executive of Coatue Management to head the corporate investment team. The social media giant is speeding up its investment layout to advance its rapidly expanding artificial intelligence strategy. According to reports, people familiar with the matter were quoted as revealing that Jiang Kai (Jiang Kai) has joined ByteDance as the head of the financial investment department in Hong Kong and reported to Chief Financial Officer Julie Gao (Julie Gao). The report quoted people familiar with the matter as saying that this appointment will help ByteDance establish a more systematic mechanism to invest in emerging technology startups.

Jiang Kai is a well-known figure in China's venture capital and private equity circles. According to public information, Jiang Kai graduated from Peking University in 2010 and joined Morgan Stanley as an analyst; joined the US private equity investment agency Providence in 2012; joined Coatue Management in 2015, responsible for technology and consumer investments in Asia, working in Hong Kong; two years after joining Coatue, Jiang Kai was promoted to Coatue's China business leader in 2017 and a Coatue partner in 2020.

In 2017, Coatue established a capital partnership with ByteDance and entered the market for the first time. Since then, Coatue has continued multiple rounds of additional investment, holding shares worth billions of dollars in ByteDance at its peak. Philippe Laffont (Philippe Laffont), founder of Coatue, also joined the ByteDance board of directors.