Tag: Sequoia Capital

A.I. Leaders Press Advantage With Congress as China Tensions Rise

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In recent weeks, American lawmakers have moved to ban the Chinese-owned app TikTok. President Biden reinforced his commitment to overcome China’s rise in tech. And the Chinese government added chips from Intel and AMD to a blacklist of imports. Now, as the tech and economic cold war between the United States and China accelerates, Silicon Valley’s leaders are capitalizing on the strife with a lobbying push for their interests in another promising field of technology: artificial intelligence. On May 1, more than 100 tech chiefs and investors, including Alex Karp,…

TikTok Bill Would Complicate ByteDance Investments if Passed

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For years, the U.S. investors who backed ByteDance, the Chinese internet company that owns TikTok, have wrestled with the complexities of owning a piece of a geopolitically fraught social media app. Now it’s gotten even more complicated. A bill to force ByteDance to sell TikTok is winding its way through the Senate after sailing through the House this month. Questions about whether TikTok’s Chinese ties make it a national security threat are mounting. And U.S. investors including General Atlantic, Susquehanna International Group and Sequoia Capital — which collectively poured billions…

Silicon Valley Venture Capitalists Are Breaking Up With China

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DCM Ventures, a Silicon Valley venture capital firm, began investing in China’s start-ups in 1999. The move reaped such blockbuster returns that in 2021, DCM said it planned to “double down” on its strategy of investing in China, the United States and Japan. Yet when DCM set out to raise money last fall for a new fund focused on very young companies and promoted its “cross-Pacific” expertise, the firm described plans to invest in the United States, Japan and South Korea, according to a fund-raising memo that was viewed by…

American Firms Invested $1 Billion in Chinese Chips, Lawmakers Find

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A congressional investigation has determined that five American venture capital firms invested more than $1 billion in China’s semiconductor industry since 2001, fueling the growth of a sector that the United States government now regards as a national security threat. Funds supplied by the five firms — GGV Capital, GSR Ventures, Qualcomm Ventures, Sequoia Capital and Walden International — went to more than 150 Chinese companies, according to the report, which was released Thursday by both Republicans and Democrats on the House Select Committee on the Chinese Communist Party. The…