Accelerating AI-enabled digital transformation of the investment management sector

Shanghai, China – September 24, 2021 – DataYes, a leading AI-enabled provider of data and investment management solutions for the financial services industry, today announced a new strategic financing round of approximately US$100 million, led by PAG.

DataYes is a pioneer in China’s investment management sector, using artificial intelligence and big data applications to drive innovative services for professionals in investment research, risk management, and asset management, among others. DataYes also provides investment advisory and asset management services to individual investors. To date, DataYes has provided data, SaaS and solutions services to over 2,000 financial institutions and over 10 million individual investors in China and worldwide.

DataYes and PAG’s collaboration comes against a backdrop of transformation in China’s financial services sector, especially investment management. According to the Boston Consulting Group, China’s household wealth will reach RMB210 trillion by 2025, providing great opportunities – and challenges – for the industry. Advanced technology and data can help financial services firms make faster, more efficient and more accurate investment and risk management decisions, and ultimately provide better service to their clients. Digitized investment management will become a core competency for leading financial services firms in the future.

Founded in 2013 with the support of its parent company Wanxiang Holdings, DataYes has for the past 8 years tirelessly strived to be a leader in this sector, developing innovative, proprietary technology in AI-enabled investment management solutions. DataYes builds solutions that effectively aggregate the vast, fragmented universe of financial information to extract useful insights that can form the basis of investment decisions. The Company was the first in China to offer a full spectrum of solutions for financial institutions to gather, process, model and refine data to extract knowledge – in turn helping clients transition from data aggregation to knowledge aggregation. DataYes’ services and solutions are currently being used by many top-tier institutions. Going forward, DataYes expects to expand its services to government and business clients, for use in analyzing their respective industries and economies and empowering better decision making.

DataYes welcomes PAG, one of the largest alternative investment management groups in Asia with a demonstrated track record of investment in financial services and technology companies, as a strategic investor. DataYes will leverage PAG’s deep investment experience and know-how to help it provide market-leading one-stop solutions in investment and asset management for enterprise and individual clients.

Feng Xiao, Chairman of DataYes, pointed out: “The success of this financing round has shown that DataYes’ disruptive innovation has now not only been recognized by our clients, but by world-class investment firms as well. With this capital financing, DataYes is about to stride into the next decade of innovation.”

Kevin Xu, a Partner at PAG, continued: “Over the years, DataYes has had tremendous success in applying cutting-edge technology in big data and AI into investment research and asset management, helping clients make better decisions with more efficient data analytics and tools. Together with DataYes, PAG looks forward to witnessing the next stage of disruptive technology and innovation.”

About Wanxiang Holdings:

Wanxiang Holdings is an affiliate enterprise of Wanxiang Group, one of the largest industrial conglomerates in China, with annual revenues exceeding US$20 billion, and one of the largest automotive parts suppliers in China and the United States. Wanxiang Holdings is an investment holding company with holdings across many fields in the financial services industry, including insurance, asset management, trust, leasing, derivatives, payment services and technology (financial information, cloud computing, big data and blockchain).

About PAG:

PAG is a leading Asia-focused alternative investment manager, with strategies including private equity, private debt, real estate and hedge funds. PAG manages US$40 billion in assets on behalf of global institutional investors, with an on-the-ground team of over 200 investment professionals across 11 major offices around the world. For more information, visit www.pag.com.