The FBI is investigating whether an American venture capital fund passed trade secrets to Beijing after investing $115 million worth of Chinese money to become one of the most prolific early investors in Silicon Valley.

Between 2015 and 2018, California-based Hone Capital invested the Chinese funds in 360 American tech start-ups, including the payment group Stripe, aerospace engineer Boom and the driverless-car manufacturer Cruise, according to the Financial Times.

Now, federal investigators are looking into whether the venture capital fund passed internal information “about the technology, finances or clients of start-ups” to benefit Beijing, the outlet reported Wednesday, citing “several people close to the matter.”

“These people said concerns have been raised during FBI interviews that some of its portfolio companies are contracted to provide services to the US government, and that some of Hone’s money may have originated from Chinese government funds,” FT said.

It comes after The Post in February exposed the possibility in a report highlighting the national security risks associated with rampant US venture capital investments in Chinese technology companies.

At the time, venture capitalist Andrew King told The Post that while there are fiscal concerns when the US invests with Chinese companies, it is “the intangible, relationship elements and knowledge that are far more impactful – and dangerous – if transferred to an adversary.”

“In return for access to the rigged Chinese market, these investors also offer Chinese startups the nearly priceless value of a lifetime of experience and learnings,” he said.

King, who advises the House Select Committee on the Chinese Communist Party, founded the nonprofit venture capital watchdog group Future Union, which exposed the threat in an explosive report early this year first reported by The Post.

“Venture capitalists’ responsibilities to their limited partners requires them to use all available
means to ensure the success of their portfolio, startup company investments,” King told The Post on Wednesday.

However, those means should not include trade secrets, but rather venture capitalists’ knowledge “amassed from meeting and tracking thousands of startup companies, experience and business best practices, as well as go-to-market know-how,” King said.

The FBI did not respond to The Post’s request for comment on Wednesday.