“Start-ups need more than just a bank”

Denver Sven Weber has been involved in tech investments for over 20 years. The partner of the investment company Knightsbridge Advisers actually wanted to pay a regular visit to his portfolio companies in Silicon Valley. But when it became clear that Silicon Valley Bank would have to close, the meeting quickly turned into a crisis meeting – like everywhere else in America’s tech landscape.

The investor believes that the upheavals will keep start-ups busy for a while. But the young technology companies, which he calls the “innovation economy”, would recover from the crisis.

>> Read here: Silicon Valley Bank the day after

Mr. Weber, how will the bankruptcy of Silicon Valley Bank change start-ups?
There is an important lesson learned from the 2008 financial crisis: companies should always be customers of more than just one bank. This also applies to venture capital investors. But in the good times, many have quickly forgotten these lessons.