EXCLUSIVE: US Venture Capital Firms Participated In Chinese Gov't 'Technology Transfer' Contests. : Five U.S.-based venture capital firms have participated in Chinese government-backed entrepreneurial contests that effectively aid Beijing’s “technology transfer” strategy, according to a Daily Caller News Foundation review of Chinese-language contest records. U.S.-based venture capital (VC) firms GGV Capital, GSR Ventures, IDG Capital, Sequoia Capital and Walden International are variously identified as “participating institutions” and/or “angel investors” in Chinese government-backed “start-up” contests supporting the Thousand Talents Plan, according to the contest’s brochures and promotional videos.