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Silicon Valley VCs vow to work with SVB if a new owner is found

Last Updated: March 14, 2023 at 8:17 a.m. ET First Published: March 13, 2023 at 3:29 p.m. ET Days after Silicon Valley Bank collapsed, customers are lining up to try and retrieve their funds from the failed bank on Monday in Santa Clara, Calif. (Justin Sullivan/Getty Images) Hundreds of Silicon Valley venture-capital firms, including heavyweights

silicon-valley-vcs-vow-to-work-with-svb-if-a-new-owner-is-found

Days after Silicon Valley Bank collapsed, customers are lining up to try and retrieve their funds from the failed bank on Monday in Santa Clara, Calif.

(Justin Sullivan/Getty Images)

Hundreds of Silicon Valley venture-capital firms, including heavyweights such as Sequoia Capital and RRE Ventures, have pledged to work again with Silicon Valley Bank if a new owner is found.

“In the event that SVB were to be purchased and appropriately capitalized, we would be strongly supportive and encourage our portfolio companies to resume their banking relationship with them,” the VCs said in an open letter.

“Silicon…

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