Name: Sequoia Capital Asks National Security Experts to Screen China Tech Investments
Uploaded: 2023-03-03T06:59:23.000Z
Description: One of the world’s top investment firms is looking to vet certain clients tied to its China branch. And it's reaching out to U.S. national security experts for help.

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One of the world’s top investment firms is looking to vet certain clients tied to its China branch. And it's reaching out to U.S. national security experts for help.

Sequoia Capital's China arm pulled in a record $8.5 billion in 2022. Some of that money came from major institutional investors, prompting concerns on Capitol Hill.

To address them, the company reportedly voiced plans to screen certain investments those funds make.

Independent, US-based experts will handle that vetting process and search out any possible national security concerns. As for what's subject to that screening, it targets investments in Chinese semiconductor or quantum-computing companies.

Sequoia China made nearly two dozen investments in Chinese semiconductor and tech companies from 2021 to 2022, but hasn't pushed new backing since the screening process began.

The Biden administration is expected to soon unveil investment restrictions as well as its own screening process. Those rules will also target Chinese companies making advanced technology.

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