Silicon Valley Bank received support from more than 100 venture capital firms including Sequoia Capital

PANews March 12 news, according to Bloomberg News, more than 100 venture capital firms signed a statement supporting Silicon Valley Bank. The statement, led by venture capital firm General Catalyst, had been signed by about 125 venture capital firms, including Sequoia Capital, as of Saturday afternoon San Francisco time, according to a person familiar with the matter. The statement described the events of the past two days as deeply disappointing and concerning, and said investors would continue their relationship with the institution should it be acquired by another entity. Meanwhile, startup incubator Y Combinator released a petition on Saturday signed by hundreds of founders and CEOs to U.S. Treasury Secretary Janet Yellen and other regulators, calling for action against small businesses that deposit money at Silicon Valley banks. Businesses overhauled and asked Congress to restore stricter regulations and capital requirements for regional banks.

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