An investigation by The Tennessee Star uncovered that the major backers of NewsBreak, an application that curates local news stories, is heavily backed by venture capital funds from communist China.
As reported in 2021, NewsBreak’s parent company is Particle Media.
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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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