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The Indian market isn't overcapitalized: Venture Capitalist
  + stars: | 2024-09-25 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Indian market isn't overcapitalized: Venture CapitalistAmit Anand of Jungle Ventures explains why he's optimistic about India's venture capital scene.
Persons: Amit Anand Organizations: Venture, Jungle Ventures
SINGAPORE — Compared to startups, Southeast Asia's venture capital firms could see a bigger impact from the collapse of Silicon Valley Bank because finding a replacement for the U.S.-based bank in the region will be challenging. "I think from a VC firm's perspective, you will see a bigger impact here," said David Gowdey, managing partner at Jungle Ventures, told CNBC's "Squawk Box Asia." While SVB served tech startups and venture capital firms mostly located in the U.S. or have a presence in the U.S. Some VCs based in Southeast Asia — such as Jungle Ventures and Golden Gate Ventures — were also clients of SVB. The bank provided VC firms and startups access to the U.S. capital market as well as networking opportunities in the U.S.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailContagion from SVB's collapse not likely in Southeast Asia, says venture capital firmDavid Gowdey of Jungle Ventures says U.S. Treasury Secretary Janet Yellen and the government did a "fantastic job" of stepping in to create stability in the market.
But that didn't stop Chrisanti Indiana — who was just 24 years old when she co-founded Social Bella. "You have nothing to lose, that's actually the benefit of starting young," said Chrisanti Indiana, who launched her startup Social Bella when she was 24 years old. Social Bella started out as an e-commerce platform called Sociolla. Social Bella was founded in 2015 by Chrisanti Indiana, her brother and president Christopher Madiam (left) and CEO John Rasjid (right). Social Bella
"A lot of people actually told us that it's a very bold move to actually open an offline presence, while everybody was closing their offline stores [during the pandemic]," she added. But that was a "well-calculated" move for Social Bella, which operates Sociolla. Indiana, the co-founder and chief marketing officer of Social Bella, tells CNBC Make It how she took her Jakarta-based startup to the next level. The makeup junkie realized that in Australia, she had easy access to a wide range of beauty products from international brands. On top of that, the business also operates Soco, which Social Bella says is Indonesia's largest online review service for beauty products.
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