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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