Webinar: The New CFIUS and CFIUS Pilot Program – Implications for Foreign (and U.S.) Investments in Startups
Last year, Congress passed the Foreign Investment Risk Review Modernization Act (FIRRMA), which significantly expands the authorities of the Committee on Foreign Investment in the United States (CFIUS). In November of 2018, the U.S. Federal Government began a pilot program of these new FIRRMA authorities to review and in some cases restrict investment by non-U.S. sources in “critical technology” areas. Those “critical” areas currently include certain types of software, aerospace products, energy storage products, and many more technologies. In addition, the government is engaged in a proceeding to consider expanding the set of “critical” fields to include biotechnology, artificial intelligence, robotics, quantum computing, and advanced materials, among others.