https://techcrunch.com/2023/10/18/sequoia-faces-congressional-scrutiny-over-investments-in-china/

One of Silicon Valley’s most prominent investment firms will face government scrutiny over its investments in China. Sequoia Capital has received a polite but pointed request from Congress to enter into more detail on how it will prevent further U.S. investment dollars from advancing Chinese interests.

Sequoia announced in June that it would be splitting into three pieces: Sequoia Capital in the U.S. and Europe, Peak XV Partners in India and Southeast Asia, and HongShan in China (formerly Sequoia Capital China). While the company claimed to be doing so due to it being “increasingly complex to run a decentralized global investment business,” it seemed clear to all that it was in anticipation of a legal requirement to divest from certain lines of business in the rival superpower.