Investors, Startups Work to Find Cash Lifelines After Silicon Valley Bank Collapse
Startup investors scrambled over the weekend to help their portfolio companies meet immediate expenses and to shore up their own access to cash after Friday’s federal seizure of Silicon Valley Bank made some money inaccessible. Venture-capital giant Andreessen Horowitz said it was helping founders of startups it has invested in find new banks and identify financing alternatives. Other venture leaders also said they were funding payroll for now at their portfolio companies that didn’t move cash out of SVB before it was…