Founders of Brazilian startups drew tons of of tens of millions of {dollars} from Silicon Valley Bank (SVB) on Thursday (9) after the financial institution launched a US$2.25 billion inventory sale to bolster its stability sheet and mitigate the consequences of falling deposits from startups struggling for money at a time of scarcer capital for enterprise and know-how property.
SVB shares plummeted about 60% on Thursday on the Nasdaq; and retreated greater than 20% in after-hours buying and selling.
A financial institution targeted on serving early-stage startups, SVB is a reference for know-how firms from Brazil that obtain cash from enterprise capital funds . . .
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