The founder of a private equity fund in China, a former Wall Street banker, has gone missing after Chinese authorities started an investigation into alleged financial misconduct at his firm, financial magazine Caixin reported on Thursday.

Wang Chaoyong, the founding chairperson and chief executive of Chinaequity Investment Co Ltd, was sought by police on Nov 30 in Beijing and has not appeared in public since, the magazine said, citing anonymous sources.

Earlier this year...