Manus AI, a prominent AI agent startup, recently secured $75 million in funding at a valuation of half a billion dollars led by Benchmark. However, the investment is now being reviewed by the U.S. Treasury Department due to concerns over compliance with restrictions on investing in Chinese companies. Despite this, Benchmark’s lawyers have defended the investment by stating that Manus is not developing its own AI models but rather acting as a “wrapper” around existing ones. They also argue that Manus is not based in China as it is incorporated in the Cayman Islands, a common structure used by Chinese companies to access foreign capital. The investment has attracted criticism from Founders Fund partner Delian Asparouhov. Benchmark, Manus, and the Treasury Department have not yet commented on the situation.
US Reviewing Benchmark’s Investment in Chinese AI Startup Manus: What This Means for the Future of Global Tech Innovation
