Startups
Some SVB Clients Are Finally Regaining Account Access
- Founders who make it onto their accounts report slow service
- VC firms say they’ll advise companies diversify their banks
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Some startup founders and venture capitalists finally started to regain access to their accounts at Silicon Valley Bank on Monday while others continued to struggle to get through.
Technology investor Ari Newman said on Twitter that he “just got confirmation from one of our portfolio companies that their SVB funds are available and they have access this am.” Outlander VC investor Paige Craig said the firm’s founders began regaining access “to their whole account balance” at about 9:30 a.m. New York time.