California regulator shuts down venture capital provider Silicon Valley Bank
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California regulator shuts down venture capital provider Silicon Valley Bank

Giovanna Bellotti Azevedo
March 10, 2023
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On Friday, the California Department of Financial Protection and Innovation closed Silicon Valley Bank (SVB), a key provider of capital for technology start-ups, sending shockwaves throughout the venture capital community.

The Federal Deposit Insurance Corp (FDIC) was appointed as receiver, according to a statement, noting that all insured depositors will have full access to their insured deposits no later than Monday, March 13, 2023.

“The

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Giovanna Bellotti Azevedo
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