House China Panel Probes Sequoia Capital Over Chinese Tech Investments

Lawmakers are concerned that the venture capital firm will continue to funnel money to China despite the new outbound investment control.

Chairman Mike Gallagher (R-Wis.) presides over the first hearing of the U.S. House Select Committee on Strategic Competition between the United States and the Chinese Communist Party, in Washington on Feb. 28, 2023. Kevin Dietsch/Getty Images

The U.S. House China panel has requested details about Sequoia Capital’s Chinese investments in national security technologies, including artificial intelligence (AI), quantum computing, and semiconductor companies.

The panel is concerned that the company’s spinoff of its China operations will enable it to evade new controls on U.S. outbound investment to China.