SVB collapse: Rajeev Chandrasekhar to meet with leaders of Indian startups
1 year, 9 months ago

SVB collapse: Rajeev Chandrasekhar to meet with leaders of Indian startups

Live Mint  

Union minister of state for information and technology Rajeev Chandrasekhar will meet the representatives from the country's startup community amid the collapse of the Silicon Valley Bank which has sent shockwaves across the globe. In a tweet, the minister said," The SVB Financial closure is certainly disrupting startups across world.Startups are an important part of India Economy. In the UK, SVB’s unit is set to be declared insolvent, has already ceased trading and is no longer taking new customers. On Saturday, the leaders of roughly 180 tech companies sent a letter calling on UK Chancellor Jeremy Hunt to intervene.

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History of this topic

US authorities investigate Goldman Sachs over Silicon Valley Bank collapse
1 year, 7 months ago

US authorities investigate Goldman Sachs over Silicon Valley Bank collapse

Live Mint  

Goldman Sachs' is facing the scrutiny of US authorities over its work with Silicon Valley Bank and its connection with the events that led to the collapse of the California bank. Goldman Sachs is fully cooperating with the ongoing investigation by US authorities and providing all the required information various government bodies, the financial institution said in its stock exchange …

Prompt action ensured Indian startups were not impacted by SVB crisis: Govt
1 year, 8 months ago

Prompt action ensured Indian startups were not impacted by SVB crisis: Govt

Live Mint  

Amid the Silicon Valley Bank collapse making global headline, Union Minister Ashwini Vaishnaw on 27 March said that government's prompt action to help Indian startups after the aftermath ensured they were not adversely impacted by the 'minor crisis'. The entire startup community to think of the Indian banking sector as their trusted partner, he said, adding, the rapid strides taken …

The View From India | What AUKUS means for India
1 year, 9 months ago

The View From India | What AUKUS means for India

The Hindu  

On March 13, Anthony Albanese, Rishi Sunak and Joe Biden, leaders of Australia, the U.K. and the U.S., appeared in front of the USS Missouri, a Virginia-class nuclear-powered attack submarine, in San Diego, California, to unveil how they plan to put in place a decades-long partnership in undersea military systems and strategic technology. The meat of the plan, as The …

Explained | Will the SVB collapse impact Indian start-ups?
1 year, 9 months ago

Explained | Will the SVB collapse impact Indian start-ups?

The Hindu  

The story so far: On March 10, banking regulators in the U.S. took control of the Silicon Valley Bank, which typically catered to start-ups, venture capitalists and tech firms, after it suffered a sudden collapse. Finance Ministry officials said the failure of SVB was likely to impact some Indian tech start-ups and IT firms, but that any broader “contagion” that …

Silicon Valley’s Favorite Bank Was Its Single Point of Failure
1 year, 9 months ago

Silicon Valley’s Favorite Bank Was Its Single Point of Failure

Bloomberg  

For 40 years, Silicon Valley Bank enmeshed itself in the venture capital community, often with the comfortable touches of a beloved hometown bank. Sequoia Capital partner Michael Moritz compared the bank to a “cherished local market” where the people behind the counter knew every customer’s name and sold them their cut of meat with a smile. In cities such as …

Massive job cuts in India due to Silicon Valley Bank collapse? Experts say…
1 year, 9 months ago

Massive job cuts in India due to Silicon Valley Bank collapse? Experts say…

Hindustan Times  

Silicon Valley Bank, a major depository to tech companies and startups, went bankrupt on Friday, leaving depositors scrambling for their money. Impact of Silicon Valley Bank collapse on Indian financial sector "Indian financial system could get impacted if the exporters who are dependent on US market start seeing slowdown in their businesses and that would impact job growth and ability …

From Moody’s downgraded outlook to oil prices, top 10 updates of SVB collapse
1 year, 9 months ago

From Moody’s downgraded outlook to oil prices, top 10 updates of SVB collapse

Live Mint  

The revised outlook of Moody's Investors on the US banking system to ‘negative’ from ‘stable’ has further increased the market chaos that emerged as the after-effect of Silicon Valley Bank's collapse in the economy. From crashing global oil prices to falling currencies, the bank runs at Silicon Valley Bank, Silvergate Capital Corp, and Signature Bank have begun a cycle of …

Will take up SVB-linked startups woes with FinMin, says Rajeev Chandrasekhar
1 year, 9 months ago

Will take up SVB-linked startups woes with FinMin, says Rajeev Chandrasekhar

Live Mint  

Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar on Tuesday said that the ministry will take up woes of Indian startups impacted by the Silicon Valley Bank collapse with the finance ministry to help them navigate through the crisis and address the immediate liquidity crunch they are facing. The minister asked startups to explore ways to use …

SVB resolution reassuring, will bring relief to startups: IT minister Ashwini Vaishnaw
1 year, 9 months ago

SVB resolution reassuring, will bring relief to startups: IT minister Ashwini Vaishnaw

Firstpost  

New Delhi: Amid US administration’s move to backstop collapsed Silicon Valley Bank’s deposits, IT minister Ashwini Vaishnaw has said the developments are “reassuring” and will bring relief to startups. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation and the Federal Reserve, and consulting with the president, US Treasury Secretary Janet Yellen on Sunday approved actions enabling …

SVB resolution reassuring, will bring relief to startups: Minister Ashwini Vaishnaw
1 year, 9 months ago

SVB resolution reassuring, will bring relief to startups: Minister Ashwini Vaishnaw

Deccan Chronicle  

New Delhi: Amid US administration's move to backstop collapsed Silicon Valley Bank's despoits, IT minister Ashwini Vaishnaw has said the developments are "reassuring" and will bring relief to startups. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation and the Federal Reserve, and consulting with the president, US Treasury Secretary Janet Yellen on Sunday approved actions enabling …

Silicon Valley Bank collapse: Here's what it means for climate tech
1 year, 9 months ago

Silicon Valley Bank collapse: Here's what it means for climate tech

Hindustan Times  

As the buoyancy drained out of the tech sector last year, leading to almost 100,000 job cuts in the US, cleantech looked like a bright spot. “Most banks, they’re banking against assets or cash flow,” said Tom Steyer, co-founder of the Galvanize Climate Solutions investment firm and a former Democratic presidential candidate. Eric Archambeau, co-founder at Astanor Ventures, which has …

For this tech startup founder, SVB collapse affects ‘parents putting dinner…’
1 year, 9 months ago

For this tech startup founder, SVB collapse affects ‘parents putting dinner…’

Hindustan Times  

The Silicon Valley Bank collapse has triggered chaos across United States and rest of the world. Lindsey Michaelides, who is a founder and chief executive officer of organisational software seller Strongsuits, says the collapse might look like a 1 per cent problem which only affects the elite, but it is not true. She added that bank downfall affects ‘parents putting …

Lesson from Silicon Valley Bank’s failure, Zerodha CEO Nithin Kamath explains
1 year, 9 months ago

Lesson from Silicon Valley Bank’s failure, Zerodha CEO Nithin Kamath explains

Live Mint  

Zerodha founder and investor Nithin Kamath said the lesson for the fallout of Silicon Valley Bank or the most recent collapse of a mid-sized Yes Bank in the Indian context is to have funds, especially working capital, distributed across a bunch of banks. Take a look at his tweet: The collapse of the Silicon Valley Bank has rocked the markets, …

Silicon Valley Bank Crisis: Timeline of How A Bank Collapsed In 24 Hours
1 year, 9 months ago

Silicon Valley Bank Crisis: Timeline of How A Bank Collapsed In 24 Hours

News 18  

The collapse of Silicon Valley Bank, also know as SVB, is being termed as the biggest bank failure since the crisis at Washington Mutual in 2008 or the global financial crisis. Silicon Valley Bank, which was the 16th biggest commercial lender in the US, is a subsidiary of SVB Financial Group and is considered the biggest bank in Silicon Valley …

What happens to Indian startups after SVB’s fall?
1 year, 9 months ago

What happens to Indian startups after SVB’s fall?

Live Mint  

The shutdown and takeover of Silicon Valley Bank by US regulators has raised questions on how it impacts India’s startup industry. While the bank’s downfall officially started last week, the failure actually relates to the overall financial crisis plaguing the world. Its stock sale also collapsed however, and more clients withdrew funds leading the bank to seek alternative funding by …

Silicon Valley Bank ‘contagion’ may leave India unscathed
1 year, 9 months ago

Silicon Valley Bank ‘contagion’ may leave India unscathed

The Hindu  

The failure of the U.S.-based Silicon Valley Bank may only hit some Indian tech startups and IT firms for now, while any broader “contagion” effects that may arise will neither reach Indian shores in a hurry nor are they likely to trigger “systemic risks”, according to top Finance Ministry officials. However, the Central government is cognisant of the fact that …

U.K. Prime Minister Rishi Sunak recognises ‘anxiety’ over Silicon Valley Bank collapse
1 year, 9 months ago

U.K. Prime Minister Rishi Sunak recognises ‘anxiety’ over Silicon Valley Bank collapse

The Hindu  

British Prime Minister Rishi Sunak said on March 12 he recognised the "anxiety" over the collapse of Silicon Valley Bank but his government was working to find a solution that will secure customers' liquidity and cashflow needs. Mr. Sunak told journalists travelling to the United States that he understood "the anxiety and the concerns customers of the bank have" and …

Britain's tech sector at ‘serious risk’ after SVB collapse, says Chancellor
1 year, 9 months ago

Britain's tech sector at ‘serious risk’ after SVB collapse, says Chancellor

Hindustan Times  

Britain's technology and life sciences sectors are at "serious risk" following the closure of the Silicon Valley Bank, Chancellor Jeremy Hunt warned on Sunday. "There is a serious risk to our technology and life sciences sectors, many of whom bank with this bank," Hunt said in an interview with British television channel Sky News. Hunt said the governor of the …

‘Mischief-mongering’: Mumbai lender affected by collapse of Silicon Valley Bank
1 year, 9 months ago

‘Mischief-mongering’: Mumbai lender affected by collapse of Silicon Valley Bank

Hindustan Times  

The Silicon Valley Bank collapse has created ripples in the banking sector across the world. As soon as the news of SVB's collapse spread like wildfire, Mumbai-based SVC Bank became the unexpected victim of rumour-mongering on social media. A man puts a sign on the door of the Silicon Valley Bank as an onlooker watches at the bank’s headquarters in …

Silicon Valley Bank collapse likely to impact Indian startup ecosystem: Experts
1 year, 9 months ago

Silicon Valley Bank collapse likely to impact Indian startup ecosystem: Experts

Hindustan Times  

The collapse of Silicon Valley Bank, the largest vendor in the startup ecosystem, is likely to adversely impact the Indian startup scenario as well as it has injected a lot of uncertainty in the sector overnight, industry experts say. The FDIC, in a statement, said as of December 31, 2022, the Silicon Valley Bank had approximately USD 209.0 billion in …

’Ab number aayega inka’: Ashneer Grover takes a dig at VCs after SVB’s collapse
1 year, 9 months ago

’Ab number aayega inka’: Ashneer Grover takes a dig at VCs after SVB’s collapse

Live Mint  

Ashneer Grover, co-founder and former MD of Indian fintech company BharatPe, has taken a dig at venture capitalists after the collapse of the US's Silicon Valley Bank. Some of the Indian Startups and venture capital firms have exposure to the Silicon Valley Bank. Moreover, some of the funds such as Sequoia Capital, Accel, Ribbit Capital, Index Ventures, and Bessemer Venture …

Modi minister to meet Indian startups affected by Silicon Valley Bank collapse
1 year, 9 months ago

Modi minister to meet Indian startups affected by Silicon Valley Bank collapse

Hindustan Times  

Union Minister Rajeev Chandrasekhar will meet this week with Indian startups affected by the abrupt closure of troubled Silicon Valley Bank to understand the impact and offer government assistance in overcoming the crisis. I will meet with Indian startups this week to understand the impact on them and how Narendra Modi's government can help during this crisis," the union minister …

SVB meltdown: These Indian startups to bear brunt
1 year, 9 months ago

SVB meltdown: These Indian startups to bear brunt

Live Mint  

The collapse of Silicon Valley Bank has put the focus on Y Combinator-backed Indian startups. “No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.” Impact on YC-backed Indian startups SVB has invested in around 21 Indian startups, as per Tracxn data, but the exact investment amount is unclear. Tracxn data also shows that …

Collapse of Silicon Valley Bank to impact Indian startup ecosystem, feel experts
1 year, 9 months ago

Collapse of Silicon Valley Bank to impact Indian startup ecosystem, feel experts

The Hindu  

The collapse of Silicon Valley Bank, the largest vendor in the startup ecosystem, is likely to adversely impact the Indian startup scenario as well as it has injected a lot of uncertainty in the sector overnight, industry experts say. I will meet wth Indian Startups this week to understand impact on thm n how @narendramodi govt can help durng this …

Silicon Valley Bank collapse causes shockwaves across world; will it impact Indian startup ecosystem too?
1 year, 9 months ago

Silicon Valley Bank collapse causes shockwaves across world; will it impact Indian startup ecosystem too?

India TV News  

Silicon Valley Bank collapse: The sudden collapse of Silicon Valley Bank in the United States has caused shockwaves around the world. California-based Silicon Valley Bank, the 16th largest bank in the US, was closed on Friday by the California Department of Financial Protection and Innovation which later appointed the Federal Deposit Insurance Corporation as its receiver. The FDIC, in a …

How Indian startup founders are reacting to the SVB meltdown
1 year, 9 months ago

How Indian startup founders are reacting to the SVB meltdown

Live Mint  

The fallout from the stunning collapse of the Silicon Valley Bank is likely to have consequences for the Indian start-up world. The closure of SVB Financial Group is being touted as the largest bank failure since the 2009 financial crisis. "Silicon Valley Bank's sudden collapse reminds us of the fragile foundation of bubble-fueled prosperity the world saw when valuations and …

Indian startups, VC funds press panic button on Silicon Valley Bank crisis
1 year, 9 months ago

Indian startups, VC funds press panic button on Silicon Valley Bank crisis

Live Mint  

In the wake of the sudden collapse of Silicon Valley Bank after a run on the bank by deposit holders, a few Indian startups and venture capital firms that have exposure to the US worry about their funds parked in the tech-business-friendly bank. Almost all SaaS companies with US presence will have an SVB account,” the second person, a US-based …

US govt should mull bailout as possible option: Bill Ackman on SVB crisis
1 year, 9 months ago

US govt should mull bailout as possible option: Bill Ackman on SVB crisis

Live Mint  

The US government should consider a ‘highly dilutive’ bailout of SVB Financial Group if a private capital solution can’t be provided, according to top US investor and hedge fund manager Bill Ackman. “The failure of SVB Financial could destroy an important long-term driver of the economy as VC-backed companies rely on Silicon Valley Bank for loans and holding their operating …

Silicon Valley Bank crisis: Why is everyone talking about SVB right now?
1 year, 9 months ago

Silicon Valley Bank crisis: Why is everyone talking about SVB right now?

Live Mint  

The startup world was thrown into chaos Thursday when a lender little-known outside of Silicon Valley sparked a wave of panic in tech circles that dragged down banking shares around the world. Events snowballed after Silicon Valley Bank announced a share sale to shore up its finances, following a significant loss on its portfolio. SVB Chief Executive Officer Greg Becker …

Uday Kotak on SVB development: ‘..an accident was waiting to happen somewhere’
1 year, 9 months ago

Uday Kotak on SVB development: ‘..an accident was waiting to happen somewhere’

Live Mint  

Shares of Silicon Valley Bank, a key lender to technology startups, sank as much as 60% at the close on Thursday. The worry comes after the Santa Clara, California-based SVB said Wednesday that it was holding a $2.25 billion share sale after suffering a significant loss on its portfolio, which included US Treasuries and mortgage-backed securities. When interest rates move …

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