US VC Firms Accused of Funding Chinese Military-Linked Companies

US Congressional Report Accuses Venture Capital Companies of Supporting Chinese Military-Linked Firms

Prominent venture capital companies Sequoia Capital China, Qualcomm Ventures, GGV Capital, GSR Ventures, and Walden International have come under fire in a scathing report released by the US House of Representatives’ select committee on China. The report alleges that these VC firms have poured a staggering $3 billion into Chinese tech companies that support Beijing’s military and contribute to the repression of minorities in Xinjiang. Led by Republican Congressman Mike Gallagher, the committee has called on the Biden administration to impose restrictions on US investments in Chinese firms with ties to the military or involvement in human rights abuses.