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Greenoaks Capital VC Firm Warned Founders About SVB Last Year

Venture investment firm Greenoaks Capital Partners warned its startup founders of potential problems at SVB Financial Group’s Silicon Valley Bank last year, months before the bank’s announcement that it was selling assets to shore up capital, according to an email reviewed by Bloomberg News.

News of the bank’s financial woes this week caused waves of panic, sending the shares plummeting 60% on Thursday and prompting a spate of venture investors to advise startups to withdraw funds from the iconic institution. SVB Chief Executive Officer Greg Becker urged clients to “stay calm” on a call with customers.

SVB Silicon Valley Bank
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