Nearly half of the top 100 “most powerful players in venture capital” have invested in Chinese tech startups in a bid to reap “massive returns at the expense of US national security”, according to an article by the New York Post, which focuses on The Rubicon Report by Future Union and its founder Andrew King, who suggests these big investors – both wealthy individuals and some non-profits and foundations – are putting democracy at risk by backing Chinese firms at the mercy of an autocratic government “with notorious disdain for intellectual property rights” and global trade norms, which wants to become the dominant global superpower.
It says the “notorious 46” venture capital players funding the rise of ‘China’s innovation ecosystem’ over the past decade includes Tiger Global Management’s Scott Shliefer, General Atlantic’s Anton Levy, Dragoneer Investment’s Marc Stad, Sequoia China’s Neil Shen and Steven Ji, 5Y Capital’s Richard Liu and Fisher Zhang, plus DCM’s Hurst Lin, while 17 US non-profits and charitable organisations such as the Mayo Clinic and Heinz Endowment have been “extensively involved” in Chinese investment while enjoying federal tax privileges meant to “encourage risk taking and reinvestment” to boost American interests.
Read the full report: New York Post.
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