Chinese companies and founders rush to calm investors after Silicon Valley Bank’s collapse ...Egypt

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The collapse of Silicon Valley Bank (SVB), which courted Chinese start-ups, has caused widespread concern in China, where a string of founders and companies rushed to appease investors by saying their exposure was insignificant or nonexistent. SVB, which worked with nearly half of all venture-backed tech and healthcare companies in the United States before it was taken over by the government, has a Chinese joint venture, which was set up in 2012 and targeted the country’s tech elite. The SPD Silicon Valley Bank, which was 50-50 owned by SVB and local partner Shanghai Pudong Development Bank, said Saturday that its operations were “sound.” It’s unclear what will happen to SVB’s ownership of t

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Last updated : 13 March 2023 clock 01:57 PM

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Chinese companies and founders rush to calm investors after Silicon Valley Bank’s collapse ...Egypt

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