The backlash came swiftly for Benchmark, one of Silicon Valley’s top venture capital firms, after Bloomberg News reported in late April that it was investing in an AI startup founded in China. Republican senators framed the deal as Benchmark effectively aiding the Chinese government, and suggested Congress should take action. Fellow venture capitalists said Benchmark was acting irresponsibly. “You’re just investing into your enemy,” says Delian Asparouhov, a 31-year-old partner at Founders Fund....