The collapse of Silicon Valley Bank (SVB) has rattled cross-border startups in India, signalling their need to diversify banking relationships quickly and adopt better risk mitigation strategies.
“The scars of this will take years to resolve as founders, investors and boards turn highly cautious,” said Siddarth Pai, who is a co-founder at the venture capital firm 3one4 Capital and co-chair of the Regulatory Affairs Council at the Indian Venture and Alternate Capital Association (IVCA), highlighting how the crisis has had a ripple effect across borders given that the startup ecosystem is highly connected across the globe.
