VCs prioritize next steps following SVB collapse

Following the collapse of Silicon Valley Bank, the most immediate concerns of biotech VCs include lacking or outdated treasury policies at portfolio companies, the fate of the bank’s existing loan portfolio, and the complexity of application processes for new bank accounts.

For the 10 VCs who spoke to BioCentury, the consensus top priority in the near term is diversifying the bank accounts of portfolio companies — something that’s easier said than done. Most said they were in the process of updating or implementing treasury policies across their portfolios to hedge against the future risk of a single banking failure. ...