Silicon Valley Bank collapse; tough time for Indian startups

The collapse of Silicon Valley Bank (SVB) in the US has left several Indian startups in a tough time. Due to the collapse, many companies’ investments and their raised funds may now be stuck.

According to recent data by global software-as-a-service (SaaS)-based market intelligence platform Tracxn, SVB had exposure in at least 21 startups in India although it did not reveal the size of the investment in these startups.

According to the California Department of Financial Protection and Innovation that shut down the bank, all insured depositors will have full access to their insured deposits no later than Monday, March 13, 2023. However, the palpitations can be heard among startup founders.