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Venture capitalists ask startups to keep money with new SVB amid crisis

High-profile investors have voiced their support for Silicon Valley Bank. In an interview with Bloomberg Television, investor Vinod Khosla said he was encouraging companies to keep funds with the bank

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Photo: Bloomberg

Bloomberg
Venture capitalists have largely kept the promise they made the day after Silicon Valley Bank dramatically collapsed: They would continue doing business with the bank if it was able to continue operating.
 
In a private call on Tuesday, the new chief executive officer of Silicon Valley Bridge Bank, Tim Mayopoulos, said that private markets have been instrumental for the institution in maintaining its deposit base, according to a readout of the call reviewed by Bloomberg. During the conversation with the Institutional Limited Partners Association, a trade association, Mayopoulos said that VCs had returned significant deposits that were moved from the

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First Published: Mar 23 2023 | 8:20 AM IST

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