The Impact of Silicon Valley Bank's Collapse on Climate Tech and Capitalism.
The recent seizure of Silicon Valley Bank (SVB) by banking regulators has left a significant gap in the world of climate finance. SVB was a go-to bank for startups seeking banking services that understood the startup life and balance sheets, especially for those working on climate change. The bank had a strong and established business in climate, boasting 1,550 climate tech and sustainability clients. However, the climate space has grown up since SVB started, and that paves the way for new lenders to serve the market. Many providers are emerging to fill the gap left by SVB, and more institutions are building dedicated climate practices and funds to support startups emerging in this space.
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