Noted Silicon Valley venture capital fund Sequoia Capital has raised nearly $1 billion for later-stage U.S. investments and roughly $2.4 billion for venture and growth deals in China, according to paperwork filed with the U.S. Securities and Exchange Commission on Tuesday.
The firm, famous for its investments in U.S. companies like Google, Instagram, Dropbox, LinkedIn, Snap and WhatsApp, is also an investor in some of China’s most successful startups.
These are companies like Alibaba, China’s e-commerce answer to Amazon; Ant Financial, a multibillion-dollar financial services powerhouse; JD.com, another e-commerce powerhouse; ByteDance, the owner of America’s latest social media sensation, TikTok; and Yitu, one of the national leaders in the development of machine learning applications.
These investments have not come without their share of controversy abroad. Yitu has been linked to the technology dragnet currently in place in Xinjiang, where an estimated 1 million religious and ethnic minorities are currently interned. Meanwhile, TikTok’s popularity in the U.S. has come with accusations of censorship in its treatment of posts that were supportive of both Xinjiang’s imprisoned population and the dissidents protesting mainland China’s increasing control over Hong Kong politics.
Source:: TechCrunch – Startups