Shyam Maheshwari, renowned as the Founder of Nextinfinity Management Pte Ltd, a pioneering Family Office headquartered in Singapore, has always championed long-term strategic investments that nurture and empower entrepreneurs along their journeys. Notably, he is also a co-founder of SSG Capital Management, an eminent investment firm specializing in special situations and credit-focused investments across the Asia-Pacific region.
In a recent commentary, Shyam Maheshwari delved into the recent headlines surrounding the abrupt demise of Silicon Valley Bank (SVB). Avoiding the historical context behind SVB’s downfall, Maheshwari focused on advocating for the necessity of such institutions. Just days before SVB’s collapse, he had suggested the need for an Asian counterpart of SVB, emphasizing its significance within the entrepreneurial landscape of Asia. However, the unexpected downfall of SVB seemed to ironically nullify his prior suggestion.
Having experienced the collapse of his initial employer, Lehman Brothers, Maheshwari empathized deeply with the plight of SVB’s stakeholders—employees, customers, depositors, and vendors. He highlighted the extensive reach of SVB, evident from the emails circulating updates on funding situations for portfolio companies from Venture Funds. Maheshwari underscored that what seems like desperation and frustration today will also serve as a testament to the profound impact SVB wielded within the startup ecosystem.
SVB had specialized in catering to the banking and financial needs of burgeoning companies. From basic services like opening bank accounts to providing advanced facilities such as overdrafts, letters of credit, cash management, and an array of sophisticated financial products like term loans, bridge loans, equity structuring, and advisory services, SVB offered comprehensive support. Shyam Maheshwari ssg, stressed how these services acted as strategic pillars, aiding startups in their evolution towards becoming influential and valuable entities in the course of time.
“In their journey to etch a mark on the sands of time, SVB provided invaluable support to startups,” Maheshwari added, emphasizing the instrumental role the institution played in fostering the growth and success of these burgeoning ventures.