silicon valley bank failure

Late-stage deal value in the US plummeted to a 21-quarter low, hitting only $11.6 billion across 99 funds in the first quarter of 2023, according to a report from PitchBook-NVCA Venture Monitor.Nationwide, there were an estimated 3,888 deals valued at $37 billion, down from 5,243 deals valued at $82.4 billion a year ago, according to the figures."Venture-growth deal value ticked upward in Q1 2023, influenced heavily by Stripe's $6.5-billion raise. Deal count in the growth stage hit the lowest it has been since Q3 2020,"…

Silicon Valley Bank's stunning collapse has led to the freezing of tens of billions of dollars stored there by startups and their private equity backers, raising fears of a wider tech sector fallout.The company, whose website says it is "the financial partner of the innovation economy," was taken over Friday by the US Federal Deposit Insurance Corporation (FDIC) to prevent further damage."SVB knew the entrepreneurial community," Joseph DeSimone, a professor at Stanford University and founder of several startups, said.…