A House select panel is investigating a number of U.S. venture capital firms over their investments in Chinese semiconductors, quantum computing and artificial intelligence companies, The Wall Street Journal reported Wednesday.
The House Select Committee on the Chinese Communist Party asked GGV Capital, GSR Ventures, Qualcomm Ventures and Walden International to respond by July 27 to its inquiry, including details about the role of CCP in tech companies they have invested in and the management advice they have shared with such businesses.
Rep. Raja Krishnamoorthi, D-Ill., member of the House select committee, said U.S. expertise and funding should not be used to support China’s “advancements in the technologies that could undermine our national security or American values.”
Rep. Mike Gallagher, R-Wis., chairman of the panel, said the investigation seeks to collect data that would help Congress advance a bill that would limit investments in such companies.
