News

March 10, 2023

Firstminute Capital tells LPs not to send money to SVB — as other funds also move money from the bank

It’s not just startups withdrawing capital from SVB — despite calls to remain calm


Amy Lewin

3 min read

Image: Ilya Grigorik

It’s not just startups withdrawing capital from Silicon Valley Bank (SVB) today, in light of fears around the US bank’s liquidity after a stock price tumble yesterday. European VCs are also moving capital from the bank’s UK subsidiary — and asking their LPs not to send capital to their SVB accounts. 

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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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