Here’s the Names of Top Asian Tech Startups And Venture Players Snared By SVB Failure

The collapse of the largest lending bank in the United States, Silicon Valley Bank, has left many investors in huge distress. The lending bank, which fell on Friday, is feared to spread contagion in tech and finance sectors in different parts of the world. Here are the lists of the tech startups likely impacted by the fallout of SVB.

Tech Startups Impacted Amid SVB Contagion

First Republic Bank, a Californian-based lending bank, appeared to have suffered the most amid the Silicon Valley Bank (SBV) contagion. Its capital shares have fallen more than 78% in pre-market trading in the past few days. The declines came after the bank said it had more than $70 billion in unutilized liquidity to fund operations from agreements that included the Federal Reserve and JPMorgan Chase & Co.

Charles Schwab Corp, an online brokerage firm, has suffered the most decline on an intraday. It has assured its investors that it has sufficient liquidity to handle any volatility amid the SVB contagion.

Khosla Ventures, an American venture capital firm, has fallen victim to SVB contagion. It has sent an email to its founders noting that it would cover payroll for some of its portfolio companies to cover funds tied up with the Silicon Valley Bank.

Other Tech Startups Suffering SVB Contagion

The collapse has impacted several fintech firms from the United Kingdom, including London-listed lender HSBC; Polarean Imaging Plc, the medical-imaging firm; Trustpilot Group Plc, the former SVB principal banking partner; Naked Wine and Venture Life Group Plc, the consumer health company.

Silicon Valley Bank contagion has also impacted some tech startups from the Asian region, including SoftBank Group Corp, a Japanese fintech firm; Sumitomo Mitsui Trust Holdings Inc, another Japanese assets management platform; Shanghai Pudong Development Bank Co, a Chinese lending firm; and Andon Health Co.

Other startups impacted include Pharming Group NV, Netherlands; BaFin, Germany; Zealand Pharma A/S, Denmark; Norges Bank Investment Management, Norway; Brii Biosciences Ltd, Hong Kong; Broncus Holding Corp, Hong Kong; BeiGene Ltd, Hong Kong; Xero Ltd, Australia; SiteMinder Ltd, Australia and Nazara Technologies Ltd, India.

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