Startups
Some VCs See Supporting Silicon Valley Bank as an Act of Loyalty
- One partner called SVB a ‘stalwart of the VC community’
- SVB reportedly in talks to sell itself as capital raise failed
Silicon Valley Bank headquarters in Santa Clara, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Among venture capitalists, there’s a widening divide between those who say startups would be wise to pull money out of Silicon Valley Bank and those who suggest keeping it there is a moral imperative that could help save the institution.
Mark Suster, a prominent Silicon Valley venture capitalist who heads Upfront Ventures, called on fellow VCs to “speak out publicly to quell the panic” about SVB.