Silicon Valley Bank jitters likely to be felt among Indian start-ups

The company has investments in close to 21 start-ups in India

Shivani Shinde Mumbai
Silicon Valley Bank (SVB)

Apart from banking operations, SVB also has a venture capitalist and private equity division

The crisis at Silicon Valley Bank (SVB), which is in talks on sale after efforts to raise capital failed, may have consequences for the Indian start-up world.

According to the Tracxn data, SVB has invested in close to 21 start-ups in the country. But the amount of investment could not be ascertained.

One of its significant investments is in SaaS-unicorn Icertis. The company had secured $150 million in funding, consisting of a revolving credit facility and convertible financing from SVB.

Icertis became a unicorn in 2021 and got this investment from SVB in October last year. An email asking the impact of the SVB crisis on the company did not elicit any response till the time of going to press.

Meanwhile, start-ups that had raised money from SVB include Bluestone, Carewale, and Loyalty Rewardz.

Paytm CEO Vijay Shekhar Sharma said in a Tweet that SVB was one of his fir

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Topics : Startups

First Published: Mar 10 2023 | 10:06 PM IST

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