News

March 10, 2023

Silicon Valley Bank turmoil: Confusion reigns among European VCs and startups

UK startup founders are turning cautious and taking money out of the bank — despite fears that this could make the situation worse


Eleanor Warnock and Amy Lewin

3 min read

Silicon Valley Bank UK

Dozens of founders and investors tell Sifted that UK startups are today withdrawing capital from US-headquartered Silicon Valley Bank (SVB) — one of the startup world’s biggest lenders — amid concerns over its liquidity. That's despite warnings from investors that withdrawing money could make the situation at SVB worse.

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Eleanor Warnock

Eleanor Warnock is an advisor to VC firm Bek Ventures, and writes a newsletter on tech and writing. She was previously Sifted’s deputy editor. Find her on X and LinkedIn

Amy Lewin

Amy Lewin is Sifted’s editor and host of Startup Europe — The Sifted Podcast . Follow her on X, LinkedIn and Bluesky

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