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Wednesday, March 29, 2023

Venture capital cautious following SVB collapse

Local venture capital (VC) firms have raised their guard against investment in fintech and startups following the Silicon Valley Bank (SVB) fallout in the US.

Sam Tanskul, managing director of Krungsri Finnovate (KFIN), the corporate VC unit under Bank of Ayudhya (Krungsri), said the company would be more careful with investment in startups and fintech firms after the collapse of SVB.

He said KFIN has no exposure to SVB, US fintech or startups, meaning it will not be affected by the collapse.

Thanapong Na Ranong, managing director of Beacon Venture Capital, the corporate VC arm of Kasikornbank (KBank), said the firm had been more cautious regarding investments in fintech and startups since last year amid tightening liquidity and higher financial costs, in line with rising global interest rates.

Suwannee Jatsadasak, assistant governor of the Bank of Thailand, said…

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