SVB Crisis: Failing Banks, Living Your Life, and Finding Your Calling
1 year, 8 months ago

SVB Crisis: Failing Banks, Living Your Life, and Finding Your Calling

The Quint  

For the millions of entrepreneurs in Silicon Valley, of whom I was one at the turn of the millennium, SVB represented the mothership of banking. Despite a nine-month period during which the Feds raised interest rates, SVB failed to diversify its investments away from “held-to-maturity” government-backed mortgage bonds and US Treasurys, which have fixed returns, leading to $17 billion in losses by end-2022. When depositors got worried about these losses and tried to withdraw their money, SVB could not cover the $42 billion in withdrawal requests that took place in just one day. HTM securities were being shown in their books at purchase value rather than their market value, even as they lost value due to rising interest rates in the second half of 2022. As financial woes escalated, the CEO sold SVB stock worth $2.2 million in late February 2023, and bonuses continued to be paid to employees, including on the day the bank collapsed.

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History of this topic

How to protect YOUR cash from banking Armageddon: Shark Tank star Kevin O'Leary warns THOUSANDS more 'radioactive' regional banks could fail like SVB - you'll be amazed how simple it is to be safe
10 months, 1 week ago

How to protect YOUR cash from banking Armageddon: Shark Tank star Kevin O'Leary warns THOUSANDS more 'radioactive' regional banks could fail like SVB - you'll be amazed how simple it is to be safe

Daily Mail  

Regional banks are doomed. BEWARE THE COMING REAL ESTATE IMPLOSION New York Community Bancorp made more headlines this week after reporting a surprise loss of $252 million on its commercial real estate loan portfolio in the fourth quarter of 2023 alone. Considering that small firms reportedly hold nearly 70 percent of $2.7 trillion in outstanding commercial real estate loans, it's …

Former SVB CEO Greg Becker to Apologize for Bank Collapse
1 year, 7 months ago

Former SVB CEO Greg Becker to Apologize for Bank Collapse

Live Mint  

Former Silicon Valley Bank chief executive Greg Becker plans to tell a Senate committee on Tuesday that no bank could have survived the unprecedented deposit run that led to his institution’s failure in March. Mr. Becker hasn’t spoken publicly since regulators seized SVB two months ago, after a failed capital raise and historic deposit run doomed the startup- and technology-focused …

Tech startups find one of their last funding sources is drying up
1 year, 7 months ago

Tech startups find one of their last funding sources is drying up

Live Mint  

A key form of financing that startups rely on is shrinking, hurting new companies that are already starved for capital. Debt Alongside Equity A question mark for many tech industry watchers is the outlook for Silicon Valley Bank’s venture debt business. “The approach to and appetite for providing credit to technology and life science companies, and investors, has not changed.” …

US authorities investigate Goldman Sachs over Silicon Valley Bank collapse
1 year, 7 months ago

US authorities investigate Goldman Sachs over Silicon Valley Bank collapse

Live Mint  

Goldman Sachs' is facing the scrutiny of US authorities over its work with Silicon Valley Bank and its connection with the events that led to the collapse of the California bank. Goldman Sachs is fully cooperating with the ongoing investigation by US authorities and providing all the required information various government bodies, the financial institution said in its stock exchange …

Collapsed Silicon Valley Bank sold to US rival First Citizens
1 year, 8 months ago

Collapsed Silicon Valley Bank sold to US rival First Citizens

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy First Citizens Bank has bought …

Number theory: Understanding the new American banking crisis
1 year, 8 months ago

Number theory: Understanding the new American banking crisis

Hindustan Times  

After hiking the benchmark interest rate, US Federal Reserve chairman Jerome Powell signalled that they were on the verge of pausing further rate hikes to limit its impact on the ongoing financial turmoil in the banking industry. Bank failures have become a rather common phenomenon in America Latest data from the Federal Deposit Insurance Corporation shows that 563 banks have …

Debt Grows More Expensive, Harder to Get for Startups After SVB Collapse
1 year, 8 months ago

Debt Grows More Expensive, Harder to Get for Startups After SVB Collapse

Live Mint  

With Silicon Valley Bank’s future uncertain, startups backed by venture capital looking for new lenders are facing higher borrowing costs, onerous terms or even closed doors, potentially throttling their growth. Oceans Ventures is working with more than 40 startup founders looking for new debt facilities outside of Silicon Valley Bridge Bank, said Steven Rosenblatt, co-founder and general partner at the …

Silicon Valley Bank's parent company cut off from bank's records
1 year, 9 months ago

Silicon Valley Bank's parent company cut off from bank's records

Firstpost  

SVB Financial, the bankrupt parent company of Silicon Valley Bank, has lost access to its financial records after the bank was placed into receivership by the Federal Deposit Insurance Corporation, according to court documents filed in Manhattan on Sunday. But its Chapter 11 bankruptcy has gotten off to a “challenging” start due to a breakdown in cooperation with the bridge …

The global banking turmoil explained; what’s happening at SVB, Credit Suisse
1 year, 9 months ago

The global banking turmoil explained; what’s happening at SVB, Credit Suisse

Live Mint  

It all started on 10 March, 2023 after Startup-focused lender SVB Financial Group became the largest bank failure since the financial crisis, in a sudden collapse that roiled global markets and stranded billions of dollars belonging to companies and investors. At least four major banks, including Societe Generale and Deutsche Bank, are restricting new trades involving Credit Suisse or its …

Explained | What’s next for Silicon Valley Bank?
1 year, 9 months ago

Explained | What’s next for Silicon Valley Bank?

The Hindu  

The story so far: The collapse of the California-headquartered Silicon Valley Bank in 40 hours the previous week caused panic in the global tech-based start-up ecosystem.The California Department of Financial Protection closed the bank and took possession of the private lender — citing inadequate liquidity and insolvency. This morning, the Government and the Bank of England facilitated a private sale …

Silicon Valley Bank Collapse: Amid Global Reset, Can Indian Markets Bounce Back?
1 year, 9 months ago

Silicon Valley Bank Collapse: Amid Global Reset, Can Indian Markets Bounce Back?

The Quint  

SVB bank may be a relatively unknown bank in India, but it was the 16th largest bank in the USA with banking assets of about USD 212bn. Till the time VCs were funding, the starts-ups deposits kept on increasing, SVP parked their surplus deposits in long-dated low-yielding bonds about USD 54bn! So they never hedged their interest rate risks even …

Silicon Valley’s Favorite Bank Was Its Single Point of Failure
1 year, 9 months ago

Silicon Valley’s Favorite Bank Was Its Single Point of Failure

Bloomberg  

For 40 years, Silicon Valley Bank enmeshed itself in the venture capital community, often with the comfortable touches of a beloved hometown bank. Sequoia Capital partner Michael Moritz compared the bank to a “cherished local market” where the people behind the counter knew every customer’s name and sold them their cut of meat with a smile. In cities such as …

Silicon Valley Bank Was Not Your Bank
1 year, 9 months ago

Silicon Valley Bank Was Not Your Bank

Slate  

Silicon Valley Bank exploded last Friday, leaving the kind of wreckage that is only possible when people in charge of a financial institution blow it epically. Then inflation became a big thing, and the Federal Reserve raised interest rates, and suddenly SVB’s bond holdings were less valuable, because they were earning interest at lower rates than investors could get elsewhere. …

Massive job cuts in India due to Silicon Valley Bank collapse? Experts say…
1 year, 9 months ago

Massive job cuts in India due to Silicon Valley Bank collapse? Experts say…

Hindustan Times  

Silicon Valley Bank, a major depository to tech companies and startups, went bankrupt on Friday, leaving depositors scrambling for their money. Impact of Silicon Valley Bank collapse on Indian financial sector "Indian financial system could get impacted if the exporters who are dependent on US market start seeing slowdown in their businesses and that would impact job growth and ability …

HSBC puts £2 billion into SVB UK after buying it for £1, promises 'more cash'
1 year, 9 months ago

HSBC puts £2 billion into SVB UK after buying it for £1, promises 'more cash'

Hindustan Times  

HSBC injected nearly £2 billion into the United Kingdom arm of collapsed United States-based Silicon Valley Bank - which it bought this week for a nominal £1, or ₹99 - and is ready to 'deploy more cash and liquidity as needed', according to a LinkedIn post by HSBC UK CEO Ian Stuart. On Monday British finance minister Jeremy Hunt confirmed …

Goldman Sachs' purchase of bond portfolio led to failure of Silicon Valley Bank?
1 year, 9 months ago

Goldman Sachs' purchase of bond portfolio led to failure of Silicon Valley Bank?

Hindustan Times  

SVB Financial Group said on Tuesday that Goldman Sachs Group Inc was the acquirer of a bond portfolio on which it booked a $1.8 billion loss, a transaction that set in motion the failure of SVB. The loss on the portfolio was the reason SVB, a technology-focused lender known as Silicon Valley Bank, attempted a $2.25 billion stock sale last …

From Moody’s downgraded outlook to oil prices, top 10 updates of SVB collapse
1 year, 9 months ago

From Moody’s downgraded outlook to oil prices, top 10 updates of SVB collapse

Live Mint  

The revised outlook of Moody's Investors on the US banking system to ‘negative’ from ‘stable’ has further increased the market chaos that emerged as the after-effect of Silicon Valley Bank's collapse in the economy. From crashing global oil prices to falling currencies, the bank runs at Silicon Valley Bank, Silvergate Capital Corp, and Signature Bank have begun a cycle of …

Class action suit filed against Silicon Valley Bank parent
1 year, 9 months ago

Class action suit filed against Silicon Valley Bank parent

Associated Press  

A class action lawsuit is being filed against the parent company of Silicon Valley Bank, its CEO and its chief financial officer, saying that company didn’t disclose the risks that future interest rate increases would have on its business. It also claims that the company “failed to disclose that, if its investments were negatively affected by rising interest rates, it …

SVB Crisis: Check The List Of Companies Impacted By US Bank Collapse
1 year, 9 months ago

SVB Crisis: Check The List Of Companies Impacted By US Bank Collapse

ABP News  

Silicon Valley Bank, regarded as a major lender for venture capital-backed firms, especially for tech start-ups, was seized by California banking regulators on Friday. Roku, a streaming devices maker, told the news agency that it has about $487 million, or 26 per cent of its cash and cash equivalents, held in deposits with SVB. Cohu Inc, a semiconductor products maker …

SVB resolution reassuring, will bring relief to startups: IT minister Ashwini Vaishnaw
1 year, 9 months ago

SVB resolution reassuring, will bring relief to startups: IT minister Ashwini Vaishnaw

Firstpost  

New Delhi: Amid US administration’s move to backstop collapsed Silicon Valley Bank’s deposits, IT minister Ashwini Vaishnaw has said the developments are “reassuring” and will bring relief to startups. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation and the Federal Reserve, and consulting with the president, US Treasury Secretary Janet Yellen on Sunday approved actions enabling …

SVB resolution reassuring, will bring relief to startups: Minister Ashwini Vaishnaw
1 year, 9 months ago

SVB resolution reassuring, will bring relief to startups: Minister Ashwini Vaishnaw

Deccan Chronicle  

New Delhi: Amid US administration's move to backstop collapsed Silicon Valley Bank's despoits, IT minister Ashwini Vaishnaw has said the developments are "reassuring" and will bring relief to startups. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation and the Federal Reserve, and consulting with the president, US Treasury Secretary Janet Yellen on Sunday approved actions enabling …

SVB collapse fallout: Moody’s downgrades six US banks
1 year, 9 months ago

SVB collapse fallout: Moody’s downgrades six US banks

Hindustan Times  

Moody’s Investors Service placed First Republic Bank and five other US lenders on review for downgrade, the latest sign of concern over the health of regional financial firms following the collapse of Silicon Valley Bank. A man puts a sign on the door of the Silicon Valley Bank as an onlooker watches at the bank’s headquarters in Santa Clara, California …

SVB collapse causes headaches for US Fed before rate decision
1 year, 9 months ago

SVB collapse causes headaches for US Fed before rate decision

Raw Story  

Traders and analysts who previously predicted the Federal Reserve would increase the pace of hikes to tackle inflation have now dialed back expectations Washington - The dramatic implosion of Silicon Valley Bank last week could bring the Federal Reserve's current cycle of interest rate hikes to an end far sooner than many analysts expected. Traders and analysts who had previously …

Silicon Valley Bank collapse: This firm is looking to buy part of bank's loans
1 year, 9 months ago

Silicon Valley Bank collapse: This firm is looking to buy part of bank's loans

Hindustan Times  

Apollo Global Management Inc. expressed interest in snapping up a book of loans held by Silicon Valley Bank, the California lender seized by federal regulators last week. Apollo, one of the world’s largest alternative asset managers, is among other investors looking to buy pieces of Silicon Valley Bank, according to people familiar with the matter. The Federal Deposit Insurance Corp. …

SVB’s demise: Why didn’t US bank regulators see it coming?
1 year, 9 months ago

SVB’s demise: Why didn’t US bank regulators see it coming?

Live Mint  

With hindsight, there were warning signs ahead of last week's spectacular collapse of Silicon Valley Bank, missed not only by investors, but by bank regulators. President Joe Biden promised a "full accounting of what happened," adding that he would ask regulators and banking regulators to tighten rules on the sector. Banking experts have been among those alarmed at the rapid …

Regret and blame in Silicon Valley after overnight collapse of SVB
1 year, 9 months ago

Regret and blame in Silicon Valley after overnight collapse of SVB

Firstpost  

Silicon Valley Bank, like many other niche banks around the world, was a highly specialized lender with specific idiosyncrasies – and its one-track focus could have been its undoing San Francisco, United States: The nearly overnight collapse of Silicon Valley Bank has left the US tech scene in shock, wondering how one of its most valued institutions could vanish so …

Silicon Valley Bank collapse: Here's what it means for climate tech
1 year, 9 months ago

Silicon Valley Bank collapse: Here's what it means for climate tech

Hindustan Times  

As the buoyancy drained out of the tech sector last year, leading to almost 100,000 job cuts in the US, cleantech looked like a bright spot. “Most banks, they’re banking against assets or cash flow,” said Tom Steyer, co-founder of the Galvanize Climate Solutions investment firm and a former Democratic presidential candidate. Eric Archambeau, co-founder at Astanor Ventures, which has …

Markets panic as Silicon Valley Bank fallout keeps spreading
1 year, 9 months ago

Markets panic as Silicon Valley Bank fallout keeps spreading

The Telegraph  

Despite specific concerns about these lenders, a domino effect-style crisis of the type seen in 2008 is unlikely given the mechanics of the SVB collapse are sufficiently different. Analysts at JP Morgan concluded: “SVB carved out a distinct and riskier niche than other banks, setting itself up for large potential capital shortfalls in case of rising interest rates, deposit outflows …

Silicon Valley Bank execs, parent company sued after collapse
1 year, 9 months ago

Silicon Valley Bank execs, parent company sued after collapse

Al Jazeera  

Silicon Valley Bank’s parent company and two senior executives are facing a class-action lawsuit in the United States, where shareholders have accused the financial institution of failing to disclose the risks that anticipated interest rate hikes would have on its business. The lawsuit, which accuses SVB of violating federal securities laws, noted that the Federal Reserve, the US central bank, …

Why did Silicon Valley Bank fail and is a financial crisis next?
1 year, 9 months ago

Why did Silicon Valley Bank fail and is a financial crisis next?

Al Jazeera  

Economists see Lehman Brothers-style crisis as unlikely despite jitters following collapse of California-based lender. On Friday, United States regulators seized the assets of the Santa Clara, California-based bank after depositors began withdrawing funds en masse amid fears over the lender’s financial health. Since then, financial regulators around the world have raced to contain the fallout of SVB’s collapse, the biggest …

For this tech startup founder, SVB collapse affects ‘parents putting dinner…’
1 year, 9 months ago

For this tech startup founder, SVB collapse affects ‘parents putting dinner…’

Hindustan Times  

The Silicon Valley Bank collapse has triggered chaos across United States and rest of the world. Lindsey Michaelides, who is a founder and chief executive officer of organisational software seller Strongsuits, says the collapse might look like a 1 per cent problem which only affects the elite, but it is not true. She added that bank downfall affects ‘parents putting …

How Silicon Valley Bank crisis may impact MF, IPO, other assets — explained
1 year, 9 months ago

How Silicon Valley Bank crisis may impact MF, IPO, other assets — explained

Live Mint  

SVB collapse: After the Silicon Valley Bank crisis, global equity markets and US dollar are under stress. However, this is restricted to US bond market only, for Indian treasuries, which are regulated by Reserve Bank of India, this crisis won't have much impact. Hit on US-IPO market On how this SVB crisis would impact equity market across globe, Kartik Jhaveri, …

Lesson from Silicon Valley Bank’s failure, Zerodha CEO Nithin Kamath explains
1 year, 9 months ago

Lesson from Silicon Valley Bank’s failure, Zerodha CEO Nithin Kamath explains

Live Mint  

Zerodha founder and investor Nithin Kamath said the lesson for the fallout of Silicon Valley Bank or the most recent collapse of a mid-sized Yes Bank in the Indian context is to have funds, especially working capital, distributed across a bunch of banks. Take a look at his tweet: The collapse of the Silicon Valley Bank has rocked the markets, …

US bails out depositors after Signature Bank, SVB closures: Top 10 updates
1 year, 9 months ago

US bails out depositors after Signature Bank, SVB closures: Top 10 updates

Live Mint  

The failure of two regional US banks, Silicon Valley Bank and Signature Bank, had negative consequences for Asian markets. Top updates on Silicon Valley Bank and Signature Bank collapse: 1. Recent failures of SVB Financial Group's Silicon Valley Bank, Silvergate Capital Corporation, and Signature Bank have had negative consequences for the digital-asset market. On Monday, the US dollar fell following …

Silicon Valley Bank Crisis: Timeline of How A Bank Collapsed In 24 Hours
1 year, 9 months ago

Silicon Valley Bank Crisis: Timeline of How A Bank Collapsed In 24 Hours

News 18  

The collapse of Silicon Valley Bank, also know as SVB, is being termed as the biggest bank failure since the crisis at Washington Mutual in 2008 or the global financial crisis. Silicon Valley Bank, which was the 16th biggest commercial lender in the US, is a subsidiary of SVB Financial Group and is considered the biggest bank in Silicon Valley …

Signature Bank closed; US bails out SVB depositors: Top 10 updates
1 year, 9 months ago

Signature Bank closed; US bails out SVB depositors: Top 10 updates

Hindustan Times  

After the failure of two regional US banks, Silicon Valley Bank and Signature Bank, most Asian markets fell on Monday, even as officials vowed to protect the US economy by strengthening public confidence in the country’s banking system. Top updates on Silicon Valley Bank and Signature Bank collapse: 1. The US government took extraordinary steps on Sunday to stop a …

No bailout for SVB, US govt to help depositors recover money
1 year, 9 months ago

No bailout for SVB, US govt to help depositors recover money

Live Mint  

NEW YORK : The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring all depositors at the failed institution that they could access all their money quickly, even as another major bank was shut down. In an effort to shore up confidence in the banking system, the Treasury …

SVB Collapse: What Banks Do With Your Money And What Happens To The Deposits If A Bank Fails
1 year, 9 months ago

SVB Collapse: What Banks Do With Your Money And What Happens To The Deposits If A Bank Fails

ABP News  

New Delhi: Silicon Valley Bank, the 16th largest bank in the United States, became the largest bank to fail since the 2008 global financial crisis, sending global indices into a tailspin last week. Treasury Secretary Janet Yellen said Sunday that the federal government would not bail out Silicon Valley Bank, but is working to help depositors who are concerned about …

Banking stocks plummet on fears of SVB contagion
1 year, 9 months ago

Banking stocks plummet on fears of SVB contagion

The Telegraph  

The crisis in the banking industry was at risk of spreading last night after US President Joe Biden failed to fully reassure financial markets following the collapse of Silicon Valley Bank. Regional US lenders, including California’s First Republic Bank, Arizona’s Western Alliance Bank and Los Angeles-based PacWest, all saw their share prices plunge by more than half on Monday. It …

Why Silicon Valley Bank collapsed and what it could mean
1 year, 9 months ago

Why Silicon Valley Bank collapsed and what it could mean

CNN  

London CNN — Silicon Valley Bank collapsed with astounding speed on Friday. The US federal government has stepped in to guarantee customer deposits, but SVB’s downfall continues to reverberate across global financial markets. In a sign of how seriously officials are taking the SVB failure, US President Joe Biden told Americans Monday that they “can rest assured that our banking …

Silicon Valley Bank crash: Anupam Mittal expects ‘doomsday predictions’ to fail. Here's why
1 year, 9 months ago

Silicon Valley Bank crash: Anupam Mittal expects ‘doomsday predictions’ to fail. Here's why

Hindustan Times  

Sharing his opinion on the Silicon Valley Bank situation, Shaadi.com founder Anupam Mittal said the US government will ensure no ‘doomsday prediction’ plays out, as the issue has ‘serious political ramifications’ due to next year's presidential election. Police officers leave Silicon Valley Bank's headquarters in Santa Clara, California. Anupam Mittal's LinkedIn post Responding to the Shaadi.com founder, a user, Ashish …

A timeline of how Silicon Valley Bank collapsed in just 48 hours
1 year, 9 months ago

A timeline of how Silicon Valley Bank collapsed in just 48 hours

Hindustan Times  

The financial world woke up to the shocking news of Silicon Valley Bank being shut down on Friday. The bank also announced offerings for $1.25 billion of its common stock and $500 million of securities that represent convertible preferred shares, Bloomberg reported. March 10: Prominent venture capitalists advised portfolio businesses to withdraw their money from the Silicon Valley Bank. March …

A timeline of how Silicon Valley Bank collapsed in just 48 hours
1 year, 9 months ago

A timeline of how Silicon Valley Bank collapsed in just 48 hours

Hindustan Times  

The financial world woke up to the shocking news of Silicon Valley Bank being shut down on Friday. The bank also announced offerings for $1.25 billion of its common stock and $500 million of securities that represent convertible preferred shares, Bloomberg reported. March 10: Prominent venture capitalists advised portfolio businesses to withdraw their money from the Silicon Valley Bank. March …

SVB: How does the largest bank failure since the 2008 crisis impact startups
1 year, 9 months ago

SVB: How does the largest bank failure since the 2008 crisis impact startups

Live Mint  

Silicon Valley Bank is the talk of the town right now. Explaining the reason behind the collapse of Silicon Valley Bank, Suman Bannerjee, CIO of Hedonova, a US-based Hedge Fund, said, "I think Silicon Valley Bank fell victim to circumstances. Gaurav VK Singhvi, Co-Founder at We Founder Circle said, "SVB has been a preferred bank for a lot of Indian …

I bought SVB shares at low prices, but then…: How Torre's CEO lost savings in Silicon Valley Bank collapse
1 year, 9 months ago

I bought SVB shares at low prices, but then…: How Torre's CEO lost savings in Silicon Valley Bank collapse

Hindustan Times  

Silicon Valley Bank's failure has shocked the global financial market, and depositors are concerned of their funds trapped in the failed institution. Torrenegra used Silicon Valley Bank as his primary bank for two of his companies, personal savings and mortgage. They also signed numerous documents to open a personal bank account with UBS bank and requested that all funds from …

‘Mischief-mongering’: Mumbai lender affected by collapse of Silicon Valley Bank
1 year, 9 months ago

‘Mischief-mongering’: Mumbai lender affected by collapse of Silicon Valley Bank

Hindustan Times  

The Silicon Valley Bank collapse has created ripples in the banking sector across the world. As soon as the news of SVB's collapse spread like wildfire, Mumbai-based SVC Bank became the unexpected victim of rumour-mongering on social media. A man puts a sign on the door of the Silicon Valley Bank as an onlooker watches at the bank’s headquarters in …

Silicon Valley Bank Failure: Fears for tech startups rise as fallout spreads
1 year, 9 months ago

Silicon Valley Bank Failure: Fears for tech startups rise as fallout spreads

Firstpost  

New York, United States: Silicon Valley Bank’s stunning collapse has led to the freezing of tens of billions of dollars stored there by startups and their private equity backers, raising fears of a wider tech sector fallout. The company, whose website says it is “the financial partner of the innovation economy,” was taken over Friday by the US Federal Deposit …

’Ab number aayega inka’: Ashneer Grover takes a dig at VCs after SVB’s collapse
1 year, 9 months ago

’Ab number aayega inka’: Ashneer Grover takes a dig at VCs after SVB’s collapse

Live Mint  

Ashneer Grover, co-founder and former MD of Indian fintech company BharatPe, has taken a dig at venture capitalists after the collapse of the US's Silicon Valley Bank. Some of the Indian Startups and venture capital firms have exposure to the Silicon Valley Bank. Moreover, some of the funds such as Sequoia Capital, Accel, Ribbit Capital, Index Ventures, and Bessemer Venture …

SVB Meltdown: No money for salaries, start-up group starts petition for compensa
1 year, 9 months ago

SVB Meltdown: No money for salaries, start-up group starts petition for compensa

Live Mint  

In the wake of Silicon Valley Bank's collapse, many startups by Y Combinators, a startup incubator that launched Airbnb, and Dropbox and have referred multiple entrepreneurs to the bank are struggling to secure working capital. Tan has addressed a petition to Secretary Janet Yellen, Chairman Martin J. Gruenberg, Chairman Sherrod Brown, and Chairman Patrick McHenry, requesting urgent relief and attention …

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