(Yicai Global) Aug. 12 -- SB China Venture Capital, which has backed the likes of Alibaba Group Holding, ByteDance, BGI Group and Dian Diagnostics Group, deleted a statement posted on its WeChat account yesterday in which it responded to its parent company’s decision to suspend investment in China.

SBCVC said in the post that it would not comment on the investment strategy SoftBank has decided to take in China, and that it will continue to invest in high-tech companies with growth potential in the country. The statement was deleted shortly after being published.

SoftBank Group and its funds will pause investing in China to wait and see how the country’s overhaul of its tech sector shapes up, Masayoshi Son, founder and chief executive of the Japanese investment group, said at an earnings press briefing in Tokyo on Aug. 10.

Chinese tech stocks have fallen since regulators began to clamp down on internet firms this year by ramping up antitrust and data security supervision. Among those companies affected are Didi Global and Alibaba, both backed by SoftBank Vision Fund, a venture capital fund under Tokyo-based SoftBank.

Founded in 2000, SBCVC is a venture capital and private equity firm that manages both US dollar and Chinese yuan funds, according to its website. It has invested in various sectors including high-tech, healthcare, retail and clean technology.

SoftBank's net income slumped 61 percent to JPY761.5 billion (USD6.9 billion) in the first quarter of this year from the previous quarter, while SoftBank Vision Fund's first-quarter profit plunged 90 percent to JPY235.6 billion over the same period.

Editor: Futura Costaglione