Lawmakers Say Sequoia, Other VC Firms Fueled China’s Tech Rise

US lawmakers say five top venture capital firms, including Sequoia Capital, have fueled China’s technological rise with at least $3 billion of investments in key strategic sectors.

Almost two-thirds of the investment from Sequoia and its peers — including Qualcomm Ventures, Walden International, GSR Ventures and GGV Capital— has gone to Chinese artificial-intelligence companies that have supported the country’s military and enabled human rights abuses, the bipartisan US House Select Committee on China said in a report. More than $1 billion has gone to Chinese semiconductor firms, the panel said, as chip technology has become ...