Signage outside the Silicon Valley Bank headquarters in Santa Clara, California, US, on Monday, March 13, 2023. The collapse of Silicon Valley Bank has prompted a global reckoning at venture capital and private equity firms, which found themselves suddenly exposed all together to the tech industry's money machine. — Bloomberg
SAN FRANCISCO: The nearly overnight collapse of Silicon Valley Bank has left the US tech scene in shock, wondering how one of its most valued institutions could vanish so suddenly, shunned by the companies that used it most.
SVB, like many other niche banks around the world, was a highly specialised lender with specific idiosyncrasies – and its one-track focus could have been its undoing.
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