VCs are declaring their allegiances in the wake of SVB’s collapse
The dust has yet to settle in the largest bank run in U.S. history, a collapse that in just 48 hours dismantled the tech startup-focused Silicon Valley Bank. But already a debate is raging in the venture capital community and investors are picking sides.
On Friday, a group of more than two dozen venture capital firms issued a joint statement that supports Silicon Valley Bank. The statement was notably after — and not before — Federal Deposit Insurance Corporation regulators closed the bank and took control.
And the…