US sanctions MiraclePlus over funding tied to Google AI theft case
The October 19th action names Lu Qi's venture firm and three affiliates after a fund invested about $700,000 in Shanghai startup Zhisuan.
By RuntimeWire Staff · Published
Primary source: Bloomberg Technology
Why it matters
The designation puts accelerator diligence in the frame of US sanctions enforcement: MiraclePlus's investment is documented, while the record does not establish that it knew of Ding's theft.
The US sanctioned MiraclePlus and three affiliated entities on October 19th over seed funding for Shanghai Zhisuan, whose founder was convicted of stealing Google AI trade secrets. For MiraclePlus founder Lu Qi, a computer scientist who led Y Combinator's China program before building his own accelerator, the action puts MiraclePlus's investment process under scrutiny alongside the criminal case against Zhisuan founder Linwei…
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