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SVB failure casts a chill across Asean’s climate startups landscape

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Janice Lim

Janice Lim

Published Tue, Mar 28, 2023 · 05:50 AM
    • While climate tech startups and venture capitalists have told The Business Times that they do not have direct exposure to Silicon Valley Bank, there are concerns on whether its collapse could create potential liquidity problems in the near-term.
    • While climate tech startups and venture capitalists have told The Business Times that they do not have direct exposure to Silicon Valley Bank, there are concerns on whether its collapse could create potential liquidity problems in the near-term. PHOTO: BT FILE

    CLIMATE venture capitalist Djoann Fal had one of the most stressful weeks of his career after news hit on Mar 10 that Silicon Valley Bank (SVB) in the US had collapsed.

    The general partner at Atlas Capital, a South-east Asia-focused climate tech fund manager, told The Business Times (BT) that six out of its eight portfolio companies were US climate startups that had banked with the failed entity.

    The decision by United States regulators to guarantee all deposit accounts has helped calmed the nerves of Fal – and almost every investor and financial institution across the globe.

    Silicon Valley BankClimate financingBanks

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