Denmark’s occupational pension fund, ATP, has invested in the Chinese company Bytdeance, which owns the controversial social media site Tiktok, reports Danish business daily Børsen.

ATP confirms to the news outlet that ATP PEP, the pension fund’s private equity arm, has invested in the parent company Bytedance via the Chinese private equity firm Hongshan and the US private equity firm Sequoia. 

ATP will not elaborate on the size of the investment to the daily or comment on the latest development, where US lawmakers are preparing to ban Tiktok in the US if Bytedance fails to cut the Chinese ties and divest the social media to Americans. 

Tiktok has been widely criticized for its Chinese connection, and there have also been fears of data sharing and espionage. 

(This article is provided by our Danish sister media, Finanswatch. It was translated using DeepL with additional editing by Kristoffer Grønbæk)