SVB's collapse could make it harder for climate startups to get the funding they need
following a run on deposits. The move has stoked fears that climate startups will face a tougher road than many of them already do.
Arcadia withdrew most of its money from SVB last week, Bhatraju told the Times, but he raised concerns about other solar developers who relied on the bank for loans and lines of credit to build their projects and now need to find other sources of funding. Ethan Cohen-Cole, the cofounder and CEO of Capture6, a startup developing facilities for carbon removal and storage, is an SVB client. Cohen-Cole told the Times that he expects to be able to pay his 20 employees because of the $250,000 insurance payout from the Federal Deposit Insurance Corporation. The company had about $4 million in accounts managed by SVB.
The fallout has led to a network of climate startups, venture-capital firms, and other lenders to mobilize their resources and help blunt the impact,
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
JPMorgan, PNC among suitors for SVB Financial in deal excluding SVB Bank - AxiosJPMorgan Chase & Co and PNC Financial Service Group Inc are among those in talks about acquiring SVB Financial Group in a deal that would exclude its commercial banking unit Silicon Valley Bank that is currently under U.S. control, Axios reported on Monday citing sources.
Les mer »
SVB collapse: The Treasury must make whole SVB investorsThe Treasury Department is right to ensure that investors at Silicon Valley Bank have access to their deposits.
Les mer »
SVB Financial mulls strategic options, hires restructuring veteranDefunct startup-focused lender SVB Financial Group said on Monday that it was planning to explore strategic alternatives for its businesses including the holding company, SVB Capital and SVB Securities.
Les mer »
Billionaire Bill Ackman on SVB collapse: Government has 48 hours to fix 'irreversible mistake'Billionaire investor Bill Ackman said that the U.S. government needs to take serious action to prevent the financial ruin of other banks amid the failure of Silicon Valley Bank.
Les mer »
Yellen: working to address SVB collapse, but not looking at bailoutU.S. Treasury Secretary Janet Yellen on Sunday said she was working closely with banking regulators to respond to the collapse of Silicon Valley Bank and protect depositors, but said a major bailout was not being considered.
Les mer »
Report: Streaming Giant Roku Has $487 Million in Cash Held by Failed SVBStreaming giant Roku has about one-fourth of its cash and equivalents amounting to nearly half a billion dollars held in the failed Silicon Valley Bank (SVB), a report details.
Les mer »