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FDIC has taken over deposits at SVB

If any funds or portfolio companies need banking support, I can help.
8 replies
Well we’ll need another bank account :man-shrugging::skin-tone-2:
Any pointers on where? The way things are going perhaps any challenger bank is too risky
I use Grasshopper for the fund as recommended by VCLab. I can make intros to Schwab, JPM Private Bank & Central Bank. DM me if you want any of these.
Is grasshopper as friendly to non-US citizens as SVB and Brex?
No idea. Generally, there is no individual at Grasshopper to speak to. Ever.
Also, their web product was likely built in 1998.
Pankaj DW Good afternoon. I am managing this circumstance we are presenting for our clients regarding this situation, as Head of Treasury. Grasshopper is a great banking partner that supports our Emerging Managers growth to success and is an option to consider. They are responsive and help onboard client accounts quickly and understand firms who have GPs outside the US. Thank you!!
Also, to chime in in here a bit, it’s ultra critical to work with banks that understand Venture Capital. You can’t just work with any bank for this sort of thing.

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