Brazilian Startups Rush to Draw Hundreds of Millions of Dollars from SVB
Brazilian Startups Rush to Draw Hundreds of Millions of Dollars from SVB
Technology

Brazilian Startups Rush to Draw Hundreds of Millions of Dollars from SVB

Brazilian founders are seeking to secure access to funds over fears that the US bank will suspend redemptions, sources told Bloomberg Línea

Founders of Brazilian startups have drawn hundreds of millions of dollars from Silicon Valley Bank (SIVB) after the bank launched a $2.25 billion share sale to bolster its balance sheet and mitigate the effects of falling deposits from startups struggling for cash at a time of scarcer capital for venture and technology assets.

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