According to news on March 12, as of March 12, 325 venture capital institutions, including Sequoia Capital, have signed a joint statement of support for Silicon Valley Bank. In addition, 650 founders who employ more than 22,000 employees also co-signed a statement saying that they asked regulators to prevent the disaster from happening. The statement from the venture capital community, led by venture capital firm General Catalyst, said: “Silicon Valley Bank has been a trusted long-term partner to the venture capital industry and our founders. For four decades, it has served the American startup industry. and an important platform to support the innovation economy.” “The events of the past 48 hours are deeply disappointing and concerning. Should SVB be acquired and properly capitalized, we will strongly support and encourage our portfolio companies to resume banking business with them relation.”
Babbitt News