Venture capital firms raised $20.6 billion for new funds in the fourth quarter, a 65% drop from the same period the year prior and the lowest fourth quarter capital raise since 2013, The Wall Street Journal reported , citing data provider Preqin. The fundraising dip is not surprising. Limited partners, the institutions and wealthy individuals that invest in VC funds, have for months said that...
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Fintech’s Big Wakeup Call
Fintechs were supposed to transform banking by making it dead simple for users to open savings accounts or pay their bills. But a series of recent high-profile setbacks with both fintechs and the traditional banking sector is setting off alarm bells. This month’s series of bank collapses has shined a spotlight on the health of small banks, typically a behind-the-scenes partner of...
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The Instant Oral History of the Silicon Valley Bank Collapse
On a cosmic level, the collapse of Silicon Valley Bank was a mere blip. The murmurs about trouble began last Wednesday, the panic spread via group texts and Twitter threads on Thursday, the bank went under on Friday, the government got its act together on Saturday, and on Sunday every current and former customer of SVB could breathe a cautious sigh of relief.
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