‘A Huge disruption’: Startups worldwide face new funding uncertainty after SVB failure        

Silicon Valley Bank headquarters in Santa Clara, California. Many investors and tech firms believe that the future will be significantly more difficult, even if the bank continues to solicit deposits under its new name.

Quang Hoang, the co-founder of a startup called Birdly, spent his Monday refreshing the website of Silicon Valley Bank every hour. His San Francisco-based mentoring startup had about $10m deposited with the now-failed bank, patronised by a large portion of the country’s most promising tech companies. 

But as afternoon turned to evening, he still hadn’t been able to recover his cash.