Venture

Shares of First Republic Bank, a financial institution in the United States that does business with startups, are rebounding today after a punishing start to the trading week. Caught in the wake of the shock collapse of erstwhile rival Silicon Valley Bank, shares of First Republic fell 62% yesterda

Flat6Labs is amongst the most active VCs in Africa, having invested in more than 100 startups to date across the Middle East and North Africa (MENA) region. And now, after 11 years, the Egypt-based seed-stage accelerator is setting out on a foray into East and West Africa through a $95 million Afri

To get a roundup of technewss's biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. H'okay, so here's the earth. That's a sweet earth, you might say. This weekend has been So Very Busy with a certain Silicon Valley Ban

Y Combinator will be writing fewer checks for late-stage companies, a scale back that also cost 17 team members — or roughly 20% of the accelerator’s employees — their jobs, according to a statement released on Monday. The accelerator told technewss that Silicon Valley Bank’s failu

Frenetic buyer interest in SVB Bank may have cooled a little this morning after the U.S. government announced a backstop, with existing deposits covered while SVB Bank remains under the control of the FDIC. But in the meantime, the rest of SVB Financial is getting dismantled. SVB Financial, the hol

Naspers, Africa's most valuable tech company by market capitalization, has wound down the operations of its R1.4 billion (?$100 million) South Africa-focused venture capital fund Naspers Foundry, according to local news outlet BusinessDay. According to the report, the firm, which is taking th

HSBC UK is acquiring Silicon Valley Bank UK for a symbolic £1. The deal comes after a tense weekend of frantic negotiations by the U.K. government, regulators and a suite of other potential suitors in the wake of the U.K. business, a subsidiary of the troubled U.S. entity, entering insolvency proc

Update: HSBC is now buying SVB UK. Full story here. Earlier story continues below. In the U.S. today, The Federal Deposit Insurance Corp. continued the auction process for the beleaguered Silicon Valley Bank, with final bids due by Sunday afternoon, according to Bloomberg. Any agree

Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you're reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, I'll take a look at the hottest fintech news of the p

Treasury secretary Janet Yellen said on Sunday that the U.S. government would not bail out Silicon Valley Bank but is concerned about depositors reeling from what is the worst bank failure since the 2008 financial crisis and will try to help them. The sudden collapse of Silicon Valley Bank, the lif

Yesterday at around noon in Los Angeles, investor Mark Suster of the venture firm Upfront Ventures began urging “calm” on Twitter. Silicon Valley Bank had bungled its messaging on Wednesday around an effort to strengthen its balance sheet, and startup founders were beginning to fear tha

The panic sparked by the collapse of Silicon Valley Bank is spreading to China, the world’s second-largest venture capital market. Across social media platforms, investors and startups are rushing to share news articles on the fiasco and thoughts on how to prevent such a catastrophic moment.

Silicon Valley Bank has been closed by regulators, which are now in charge of the bank's deposits, according to a release sent out by the Federal Deposit Insurance Corporation on Friday. While banking activities in SVB's 17 branches are closed today, SVB's operations will resume on Mond

Update: Well, SVB stock never went live again, and four days on, the search for a buyer for SVB Bank continues. Now under the control of the FDIC, SVB Bank reportedly had a number of suitors over the weekend for a planned auction process including PNC Bank and the Royal Bank of Canada. But by Sunda