California regulator shuts down venture capital provider Silicon Valley Bank
  • Show more sharing options
  • Print
  • X
  • LinkedIn
  • Free Trial
  • Log in

California regulator shuts down venture capital provider Silicon Valley Bank

Giovanna Bellotti Azevedo
March 10, 2023
  • Show more sharing options
  • Print
  • X
  • LinkedIn
silicon valley bank logo.png

On Friday, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB), a key provider of capital for technology start-ups, sending shockwaves throughout the venture capital community.

The Federal Deposit Insurance Corp (FDIC) was appointed as receiver, according to a statement, noting that all insured depositors will have full access to their insured deposits no later than Monday, March 13, 2023.

“The

Subscribers, log in here:

Fuel a smarter strategy with our actionable market intelligence

      • Gain a competitive edge and accelerate decision-making
      • Be empowered by insights that transform confusion to clarity
      • Uncover growth opportunities and prepare for potential threats
      • Fuel a smarter strategy for business growth
Request a free trial Already a subscriber? Log in now

Topics

News InsurTech Regulation
Giovanna azevedo headshot new.jpg
Giovanna Bellotti Azevedo
Editor
Gift this article