US Venture Capital Firms Are Supporting China’s Military: House Panel

The House Select Committee on the Chinese Communist Party (CCP) is opening investigations into several U.S. venture capital firms that it claims are funding China’s development of artificial intelligence (AI) and military modernization.
Committee Chairman Rep. Mike Gallagher (R-Wis.) and Rep. Raja Krishnamoorthi (D-Ill.), the panel’s ranking Democrat member, sent letters to the leaders of the four firms, demanding to know the extent of their dealings with the regime in Beijing, a person close to the committee told The Epoch Times.
Mr. Gallagher and Mr. Krishnamoorthi say that the VC funds GGV Capital, GSR Ventures, Walden International, and Qualcomm Ventures—the venture arm of wireless technology company Qualcomm—are investing in Chinese AI and semiconductor companies that the lawmakers claim the regime uses to expand its human rights abuses and military modernization….}