US lawmakers accuse VC firms of funding Chinese military-linked firms
February 9, 2024
Chairman U.S. Representative Mike Gallagher (R-WI) speaks with former Secretary of State Mike Pompeo, and former CIA director and former defense secretary Leon Panetta, during a hearing of the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party, on Capitol Hill, in Washington, U.S., January 30, 2024.
WASHINGTON, Feb 8 (Reuters) - Sequoia Capital China, Qualcomm Ventures and three other venture capital firms plowed at least $3 billion into Chinese tech companies that support Beijing's military and its repression of minorities in Xinjiang, a U.S. congressional report alleged on Thursday.
The House of Representatives' select committee on China, led by Republican Congressman Mike Gallagher, released the report, which also scrutinizes investments made by GGV Capital, GSR Ventures and Walden International in Chinese artificial intelligence and semiconductor firms with unsavory ties.
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