Tag: GSR Ventures

U.S. Venture Capital Firms Invested Billions in Companies Linked to Chinese Military and Human Rights Abuses

Pennsylvania Daily Star Staff
Chinese Military

Five American venture capital firms invested at least $3 billion in Chinese technology companies making products used in human rights abuses and aiding the Chinese military and government, according to an investigation from the House Select Committee on the Chinese Communist Party (CCP).

GGV Capital, GSR Ventures, Qualcomm Ventures, Sequoia Capital and Walden International supplied funds to support the development of semiconductors that are being put to use by China’s military for research on equipment and weapons, according to the House Committee. The report follows findings by the Daily Caller News Foundation in October that several U.S. venture-capital firms were participating investors in CCP-backed start-up contests that supported China’s Thousand Talents plan, which aims to poach technology and researchers abroad.

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U.S. Venture Capital Firms Participated in Chinese Government ‘Technology Transfer’ Contests

Pennsylvania Daily Star Staff

Five U.S.-based venture capital firms have participated in Chinese government-backed entrepreneurial contests that effectively aid Beijing’s “technology transfer” strategy, according to a Daily Caller News Foundation review of Chinese-language contest records.

U.S.-based venture capital (VC) firms GGV Capital, GSR Ventures, IDG Capital, Sequoia Capital and Walden International are variously identified as “participating institutions” and/or “angel investors” in Chinese government-backed “start-up” contests supporting the Thousand Talents Plan, according to the contest’s brochures and promotional videos. Executives from these five VC firms have served as Thousand Talents Plan start-up contest judges, steering committee members and mentors for contestants going back to the first 2012 contest, according to a DCNF review of contest records.

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