Joe Biden’s Commerce Secretary Gina Raimondo has strong family ties to a major tech firm funded by the Chinese government. Raimondo’s husband, Andy Moffit, is a high-end executive of PathAI, which specializes in artificial intelligence development.
Danhua Capital is a major investor in PathAI, and while the venture capital firm is based in California, it enjoys major financial support from the Chinese Communist Party. PathAI received $11 million in capital funding to start operations in 2017.
It is unknown what the total investment Danhua Capital holds in PathAI currently, but Danhua claims the company is one of its essential “biotech and health investments” on its website.
The Chinese government was involved in the initial funding and establishment of Danhua as part of China’s “penetration of Silicon Valley,” as reported by Reuters. The Center for a New American Security also has strong connections to the Biden Administration and provided Congressional testimony in 2018 that Danhua intended to use its investments to strengthen China’s tech position with the U.S.
Raimondo is responsible for overseeing America’s commercial relationship with countries everywhere in the world. She has become a leading pro-China voice in the Biden administration. Earlier this year, she told the Wall Street Journal that America should seek more “robust” commercial relations with China.
Raimondo said last week that she would not pressure American companies to remove sponsorships from the Beijing Olympics after the announcement from the White House of a “diplomatic boycott” of the games because of Chinese human rights abuses.
The Commerce Secretary’s financial disclosures indicate that she and her husband will receive financial benefits from PathAI’s success. Moffit holds significant ownership interests and sizable stock options in the company. Raimondo’s disclosure claimed that the value of her husband’s ownership interest is “unknown.”
Connections to China’s government have cropped up in other parts of the Biden Administration. Republican senators recently demanded that Biden’s climate czar John Kerry resign or be fired after reports surfaced that he and his wife have an ownership stake of at least $1 million in a Chinese company that provides funding to the country’s artificial intelligence industry.