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VCs are declaring their allegiances in the wake of SVB’s collapse


The dust has yet to settle in the largest bank run in U.S. history, a collapse that in just 48 hours dismantled the tech startup-focused Silicon Valley Bank. But already a debate is raging in the venture capital community and investors are picking sides.
On Friday, a group of more than two dozen venture capital firms issued a joint statement that supports Silicon Valley Bank. The statement was notably after — and not before — Federal Deposit Insurance Corporation regulators closed the bank and took control.
And the posthumous show of support keeps growing. By midday Saturday, more than 100 venture firms had added their names to the joint statement. There are also some noticeable absences on the list, including a16z, Founders Fund, Sequoia Capital and Y Combinator.
General Catalyst and managing director Hemant Taneja wrote in a post Friday …

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