SVB was an especially aggressive marketer to Indian SaaS startups serving the US market. Many of the start-ups who had relied upon SVB as their only bank in the US, had a harrowing 7-10 days.
If there is one thing certain about the world of venture capital, it is that it is prone to cycles. And the timing of the cycles, including in the Indian market, has so far been determined largely by the US Fed’s monetary policy stance. This time around, the Fed’s reversal of direction has caught even the US banking system on the wrong foot, as evidenced by the unfortunate turn of events at Silicon Valley Bank (SVB). In the latest quarter...