Financial TimesFinancial Times

Recriminations fly as venture capitalists contemplate Silicon Valley Bank’s collapse

By Tim Bradshaw, Antoine Gara and George Hammond

13 Mar 2023 · 4 min read

As Silicon Valley Bank was gripped in a crisis last Thursday, General Catalyst boss Hemant Taneja gathered a group of fellow venture capitalists in a last-ditch attempt to avert disaster. 

Over the previous few days, some VC funds had leaned on portfolio companies to retreat from the tech scene’s favourite bank, with Peter Thiel’s Founders Fund the most significant to do so, according to people with knowledge of the situation. Founders Fund declined to comment.

The news, curated.

Subscribe in our mobile app to continue reading this Financial Times article

Already subscribed? Sign in

Get world-class journalism from premium publishers, curated by editors and experts. All in one app.

Subscribe now and get 14 days free.