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.
