U.S. Venture Capital Firms Invested $1 Billion in Chinese Semiconductor Industry, U.S. Congress Finds A recent congressional investigation revealed that five American venture capital firms contributed over $1 billion to China's semiconductor industry since 2001, aiding its growth, now deemed a national security concern by the U.S. government. The report highlighted investments in Chinese companies, including those supporting Beijing's military efforts. While the Biden administration has imposed restrictions on such investments and technology sales to China, the report does not allege any illegal activities. The House committee has been active in advocating for measures against China, including raising tariffs and addressing forced labor issues.