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Missing Chinese CEO Bao Fan is being investigated by “certain authorities in the People’s Republic of China,” his company said in a statement Sunday.

China Renaissance Holdings Limited, of which Bao is the chairman and CEO, said the firm has been searching for him since the announcement he disappeared on February 16.

“The Board would like to reiterate that the business and operations of the Group are continuing normally,” a statement from the company said. “The Company will duly cooperate and assist with any lawful request from the relevant PRC authorities, if and when made.”

Bao is not the first business executive to go missing. Real estate mogul Ren Zhiqiang disappeared for several months after allegedly speaking out against Chinese leader Xi Jinping in 2020. He was then jailed for 18 years. Authorities reportedly detained Anbang chairman Wu Xiaohui as part of a government investigation. He, too, was eventually jailed for 18 years.

The company, an investment bank and private equity firm based in Beijing, added it is monitoring the situation and will release further statements “when appropriate.”

Bao started his investment banking career in the late 1990s at Morgan Stanley and Credit Suisse and later served as an adviser to the stock exchanges in Shanghai and Shenzhen.

His team has also invested in US-listed Chinese electric vehicle makers Nio (NIO) and Li Auto and helped Chinese internet giants Baidu (BIDU) and JD.com (JD) complete their secondary listings in Hong Kong.

Bao's disappearance also comes against the backdrop of more than two years of a severe regulatory crackdown on technology companies.

Bao, also China Renaissance's controlling shareholder, started the firm in 2005 as a two-person team, seeking to match capital-hungry startups with venture capitalists and private equity investors.