Mercury, which helps startups manage their finances, raised $300M led by Sequoia at a $3.5B valuation; the fintech saw $2B in deposits after SVB's collapse
Fintech banking startup Mercury says it has more than doubled its valuation to $3.5 billion after raising $300 million in its latest funding round.
SVB agrees to sell its VC arm SVB Capital, which manages ~$9.8B in assets, to a new entity backed by Brookfield and Sequoia Heritage for $340M in cash
SVB agrees to sell its VC arm SVB Capital, which manages ~$9.8B in assets, to a new entity backed by Brookfield and Sequoia Heritage for $340M in cash
- SVB Capital wasn't included in the sale of SVB's lending and wealth management units to North Carolina-based bank First Citizens …
A look at the US venture debt landscape a year after SVB collapsed, as none of the new options have become as appealing as the “one-stop shop” SVB offered
Who sponsors equivalent trips in Europe? …
A look at the US venture debt landscape a year after SVB collapsed, as none of the new options have become as appealing as the “one-stop shop” SVB offered
Financial Times :
Internal Brex data: Q3 annualized net revenue hit $283M, up 1% QoQ, and the company is far from profitable, as the growth spurt after SVB's collapse trails away
Mark Matousek / The Information : Bluesky: @caseynewton.bsky.social . X: @coryweinberg Bluesky: Casey Newton / @caseynewton.bsky.social : I wonder if looking back Brex would still decide to stop serv...
A mistakenly released FDIC doc lists SVB customers before its collapse: Sequoia with $1B, Beijing-based Kanzhun with $902.9M, Altos Labs with $680.3M, and more
When federal regulators stepped in to backstop all of Silicon Valley Bank's deposits, they saved thousands of small tech startups …
HSBC rebrands SVB UK as HSBC Innovation Banking, adding US, Israel, and Hong Kong teams to offer banking services to startups, investors, and other tech clients
Ingrid Lunden / TechCrunch :
The FDIC and California regulators say JPMorgan Chase plans to acquire most of First Republic Bank, which was a tad bigger than SVB and had $100B+ in outflows
now JPMorgan Chase's — uninsured depositors is Sen. Dianne Feinstein who, according to her latest financial disclosure, had between $1,000,001 and $5,000,000 in a First Republic account. Last week, a ...
The FDIC and California regulators say JPMorgan Chase plans to acquire most of First Republic; the bank, which is slightly bigger than SVB, had $100B+ outflows
Depositors protected but shareholders wiped out in country's second-largest bank failure — JPMorgan Chase is to acquire …