Silicon Valley Bank Collapse: The closure of America’s Silicon Valley Bank will affect India as well. The sinking of this bank, which mainly invests in tech companies, will make a difference to many sectors of India, while its effect on the stock market can also be seen next week. Read this news…
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Silicon Valley Bank Failure: Silicon Valley Bank of America (SVB) The sinking of which is the biggest bank failure since 2008. On the other hand, it is going to affect many sectors of India. Mainly tech and startup segment (Impact on Indian Startups) This bank which invests in India also has a significant investment in India. Also next week Indian stock market (Impact on Indian Stock Market) But also the impression of this event can be seen, which was already in the Hindenburg Research (Hindenburg Research) Report of and Adani Group (Adani Group) Shaken by the fall in the stock of companies of
US regulators have ordered the closure of Silicon Valley Bank. With this, the bank’s total assets of $ 209 billion and total deposits of $ 175.4 billion have been seized.
Sinking of SVB will be heavy on startups
The effect of the news of the sinking of Silicon Valley Bank has been shocking to the tech industry around the world. tech startup (Start-up) from to unicorn Unicorn and sass (SaaS – Software as a Service) Even the companies are lying on it. The Indian startup sector is also no exception to this.
According to Tracxn data, Silicon Valley Bank has invested in 21 startup companies in India. However, the information about how many dollars the bank has invested in which company is not available. A unicorn company in these Indian startup companies Icertis also includes.
Icertis provides contract management software to businesses. This is a Sass company. In the year 2021, it achieved the status of Unicorn (companies whose valuation crosses $ 1 billion). Later in October 2022, it raised investment from Silicon Valley Bank.
Investing in Paytm, Naaptol, BlueStone as well
Indian companies receiving funding from Silicon Valley Bank include BlueStone, CarWale, InMobi, Paytm, One97 Communication, Naaptol and Paytm Mall etc. However, since 2011, Silicon Valley Bank has not invested much in India. But many Indian Venture Capitalists have partnered with Silicon Valley Bank. Now the founders and investors of these Indian startups are worried about asset transfer. Because the limit for withdrawing from the bank can be fixed.
Source: www.tv9hindi.com
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