SVB crisis sends jitters through startup world: Here's what we know

Santa Clara-based SVB Financial Group announced that it sold $21 billion of securities from its portfolio. SVB Financial Group also said it was holding a $2.25 billion share sale to shore up finances

Silicon Valley Bank (SVB), a key lender to technology startups, is in a tough spot. This after it witnessed a significant decline in its shares on Thursday as investors moved to withdraw their deposits.

What is Silicon Valley Bank?

Silicon Valley Bank is a commercial bank and one of the largest in the United States. It is the biggest bank in Silicon Valley. It is a subsidiary of the SVB Financial Group.

SVB has relationships with over 50 per cent of all venture-backed companies in the US and countless Venture Capital (VC) firms.

What has happened?

Santa Clara-based SVB Financial