SVB Collapse
Khosla Ventures Tells Some Startups Firm Will Cover Payroll
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Khosla Ventures sent an email to founders saying that the venture capital firm would step in and cover payroll for some of its portfolio companies if they had shortfalls because of funds tied up with Silicon Valley Bank.
The assurance is part of a broad effort by VC firms to try to contain the fallout from the bank’s collapse on companies they have invested in, including lining up financing and covering payroll for startups whose cash is now in limbo.