Tim Cheung (@TimCheung)

"#Intel #CEO #LipBuTan made hundreds of #investments in #Chinese #companies over decades, either himself or through venture funds he founded or operates...Through Walden International, the #SanFrancisco #venturecapital firm Tan founded in 1987, he became a seed #investor in #Semiconductor Manufacturing International Corp, #China's largest #chip foundry, in 2001, the year after it was founded, and served on the board until 2018. In 2020, #SMIC was placed under #sanction by the #US. government for its close ties to the Chinese #military, and Tan exited his SMIC investment in 2021...The firm remains invested in 20 funds and companies alongside Chinese government funds or state-owned enterprises, according to Chinese corporate databases, including tech #hubs like #Hangzhou, #Hefei, and #Wuxi. #Walden has also invested in six Chinese tech firms alongside leading People's Liberation Army supplier China Electronics Corporation, which was sanctioned by President #Trump in 2020 as part of an executive order that banned purchasing or investing in 'Chinese military companies'...Those joint investments, detailed in Chinese government #databases, include #Shanghai-based #QST Group whose sensors have been found in #Russian military #drones captured by #Ukraine, according to a #Ukrainian government database...Another joint investment with #CEC is a 2% stake in Intellifusion, a surveillance company thatwas placed on a U.S. Department of Commerce trade #blacklist in 2020, opens new tab for alleged involvement in human rights abuses in the #Xinjiang region. Two Walden funds currently own over 5% of #Wuxi Xinxiang Information Technology Company Limited, a supplier of remote-control equipment to leading Chinese memory chipmaker Yangtze Memory Technologies Co. Ltd, according to procurement data found in Chinese corporate databases. The Commerce Department added #YMTC to a trade blacklist in 2022 and the Pentagon added it to a list of 'Chinese military companies operating in the United States' on January 31, 2024...Tan is listed as sole owner of Sakarya Limited, a #HongKong-based holding company that invests in China, according to an earnings report from a Sakarya-backed chipmaker published on April 29. #Sakarya controls 38 Chinese firms including Huaxin Yuanchuang (Qingdao) Investment Management Co., Ltd., which is Walden's main investment entity in mainland China that ties Tan to over 500 Chinese companies, according to Chinese corporate databases...Tan holds stakes in 68 Chinese firms through Seine Limited, another Hong Kong-based entity controlled by Walden Technology Ventures III LP, according to Chinese corporate databases. #Seine holds a 3.1% stake in #Guangdong-based component maker Dapu Technologies, which the U.S. House Select Committee on the Chinese Communist Party identified as a PLA #contractor, and an 8.3% stake in HAI #Robotics, a firm the committee said has bid for a #PLA contract and works with Chinese surveillance companies, according to filings...Tan's former company Cadence Design sold chip design products to a Chinese military #university, according to a Reuters report. Last week, Cadence Design agreed to plead guilty and pay more than $140 million to resolve the charges. Tan ran #Cadence as CEO from 2008 through 2021 and was executive chairman until May 2023. The sales to Chinese #entities occurred under his leadership at Cadence, which makes design #software and other tools used to manufacture chips." https://www.facebook.com/ChinaCreepingAuthoritarianism/posts/pfbid0389d9bjniLrFF9P3vJVyhXhTZXJnDLvHUUJ629Sn1JqPJWsR83tRimbSPftGFY6xDl