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American AI Startups Quietly Raise Money From Top Chinese VC Firms, Including Sequoia Capital China

Nov 08, 2023 - theinformation.com
Major Chinese venture capital firms are investing in American AI startups despite concerns from U.S. officials about Chinese involvement in local tech firms. For instance, Sequoia Capital China, the largest VC firm in mainland China, has recently invested in UTA, a California-based startup developing an AI chatbot for travel planning, and Opus Clip, another California-based startup that provides an AI video tool for podcast creators.

Other notable Chinese VC firms such as ZhenFund, Source Code Capital, Capital Today, and MiraclePlus have also invested in U.S. AI startups in the past year. These deals have not been publicly announced by either the firms or the startups.

Key takeaways:

  • Major Chinese venture capital firms are investing in American artificial intelligence startups, despite concerns from U.S. officials about Chinese involvement in local technology firms.
  • Sequoia Capital China, the biggest VC firm in mainland China, recently invested in UTA, a California-based startup developing an AI chatbot for travel planning and booking.
  • Sequoia China has also invested in Opus Clip, a California-based startup that has an AI video tool for podcast creators.
  • Other Chinese VC firms such as ZhenFund, Source Code Capital, Capital Today and MiraclePlus have also invested in U.S. AI startups over the last year, though these deals have not been publicly announced.
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