Top news of the week: 19.03.2023.
3 investors presage the future of startups and VC following SVB’s downfall
"There's going to be an extreme shift in general in the financial industry when it comes to financing startups."
SVB collapse forces African startups to rethink their banking options
Startups are increasingly holding their funds in multiple bank accounts in big financial institutions, which are perceived to be safer.
VC Firms Push for Relief to Avoid SVB-Linked Furloughs
The influential investors that back startups pushed for government action and took other emergency measures Sunday to avoid the growing threat of furloughs if startups with money tied up at ...
Tech’s very bad year, in numbers
Reduced investment and large-scale layoffs have created dark times for tech globally.
SVB Financial is also looking for a buyer for SVB Securities and its SVB Capital VC division
SVB Financial, the holding company parent of the failed SVB Bank, is formally seeking strategic alternatives for SVB Capital and SVB Securities.
Leaked email: VC giant Andreessen Horowitz says it's sticking with SVB for now — but is setting up accounts at another bank too
VC firm a16z said in a leaked email it intends to keep banking with SVB for the time being as the bank is "fully operational."
Analysts caution that Silicon Valley Bank collapse could further cool declining VC market
Some venture capitalists say it’s business as usual for their investment plans in the aftermath of Silicon Valley Bank’s downfall. But analysts with PitchBook wrote in a report this week… ...
Startups Asked For Help Making Payroll After SVB. VC Responses Were Mixed
When founders scrambled to make payroll after the closure of SVB, some VC firms promised to help—but only a few actually wired money.