Early Chinese investors in Singapore-based AI startup Manus are planning to buy the company back from Meta for US$2 billion, matching the price the Facebook parent company paid for the firm in December, according to Reuters, citing The Information.
The proposed transaction involves early backers HSG, ZhenFund and Tencent, with HSG and ZhenFund reportedly considering the use of fresh capital to acquire Meta’s position in the startup.
Early investor Benchmark will not participate in the buyback process.
The move follows a regulatory directive in Beijing in April that led to renewed scrutiny of the deal and discussions around unwinding Meta’s ownership, as Chinese authorities tighten oversight of US investments in advanced AI startups.
Following the directive, Meta carried out an internal operational separation from Manus and halted data sharing between the two firms, according to the report.
Manus develops AI agents capable of autonomously carrying out tasks with minimal human input and has seen significant revenue growth since the acquisition closed.
Its annualised revenue run rate has risen to between US$400 million and US$500 million in recent weeks, up from US$100 million at the time of the deal.
The startup is also reportedly exploring a restructuring into a China-incorporated joint venture, which could pave the way for a potential Hong Kong listing.
Featured image credit: Edited by Fintech News Singapore, based on image by thanyakij-12 via Magnific
