Three partners from Peter Thiel’s Founders Fund—Sean Liu, John Luttig, and Joey Krug—visited tech companies in Beijing, Shanghai, and Shenzhen last month, signaling continued US venture capital engagement with China’s technology sector despite broader investment pullbacks. The visits come as Chinese AI startups gain technological influence, with DeepSeek specifically cited as a driver prompting some US investors to refocus on China's tech market. While overall US VC investment in Chinese startups has declined significantly in recent years, select firms maintain active dialogue with local founders to assess emerging opportunities.