What does SVB’s Failure Mean for Startups?
Things are not looking good. 😞
SVB wasn’t just a bank.
It had relationships with more than 50% of all venture-backed companies in the U.S. and countless VC firms.
Its collapse will leave a big hole in the startup world.
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Startups were already facing difficulties accessing funding from VCs in 2022 due to recession fears.
According to findings from a Crunchbase report, in the final quarter of 2022, investments in North American startups fell 63% compared to the same period a year earlier.
The collapse of SVB can have severe consequences.
💸 Lower tech valuations
☠️ Higher startup mortality
👎 Intensifying layoffs
Read more about these implications in the slides inside our Sales & Investor Accelerator Club where I will share these valuable resources. Join us here!