Government says Indian banks could offer a deposit-backed credit line to startups that had funds in SVB

"No other bankers in the US provide the level of services SVB used to offer," said an executive at a major Chinese investment bank, which has deposits at Silicon Valley Bank

Startups globally struggled to raise funds as investors rushed out of tech stocks

Fumio Kishida said the government wanted to share risks associated with "bold" investments. "Furthermore, I would like to appoint a new minister in charge of startups."

Education startups, including Scaler, Byju's, Emeritus and Simplilearn, attracted $8.5 billion in investments during 2014-2021, with almost half of that last year

Alex Clavel will take charge of a gamut of assets including chip designer Arm, which SoftBank hopes to list, and stakes in satellite firm OneWeb and telco T-Mobile US Inc

Country plans to increase local production of chips as well as displays, advanced chemicals, networking and telecom equipment, batteries and electronics

The Chinese company sold its stake to Canadian investors during VerSe's fundraising round last month, the report said

The company - backed by Peter Thiel's Valar Ventures, DST Global and Unbound - has been granted a licence by the Securities and Futures Commission

General Atlantic is in talks with about 15 companies in sectors including technology, financial services, retail and consumer, Sandeep Naik, head of its business in India and SE Asia, said

In 2021, more than 80 companies cancelled plans to list on Shanghai's tech-focused STAR market, double the number in 2020

The sell-off was triggered by deepening investor worries over inflation and higher interest rates. Cryptocurrencies were dragged down, too.