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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