US House committee sent letter to fur US venture capital firms on concerns about investment in Chinese tech – report

 

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The US House Select Committee on the Chinese Communist Party sent a letter to four US venture capital firms, including Qualcomm Ventures, a subsidiary of Qualcomm, GGV Capital, GST Ventures, and Walden International, expressing serious concerns about their investments in Chinese technology startups, according to CNBC.

The letter is particularly concerned about investments in AI, chip makers and quantum computing companies, and notes that some of the companies are involved in the Xinjiang Uyghur issue, the report said.

The letter mentions dozens of investments that violate human rights and strengthen China’s military in ways that are contrary to US interests, such as Qualcomm Ventures’ investment in 13 Chinese AI companies between 2015 and 2021, including SenseTime and Denglin Technology.

GGV Capital is said to have invested in Megvii Technology, Alibaba, TikTok’s parent ByteDance, and Didi Chuxing, among others. Walden International invested in the US-sanctioned Intellifusion, while GST invested in AI companies such as Horizon Robotics.