Park funds in well-capitalised Indian banks, Blume Ventures to portfolio firms after SVB collapse

Blume Ventures, an Indian early stage startup-backer, will demand portfolio companies headquartered abroad hold well-capitalised bank accounts in India after the failure of Silicon Valley Bank.

The collapse of the US lender left the firm, which says it manages about $600 million, scrambling to shore up capital for its firms whose funds got stuck, according to partner Ashish Fafadia.