Good morning! Before being known as the bank that collapsed, Silicon Valley Bank (SVB) made a name for itself as a bank that helped support underrepresented founders. Eight months later, the bank is now trying to repair its reputation among the Black community, and as part of rebuilding trust, it sponsored events and parties last week at AfroTech. Full TechCrunch+ articles are only available to members. Use discount code TCPLUSROUNDUP to save 20% off a one- or two-year subscription.
Though many people left the bank for larger institutions, Dominic-Madori Davis, who spoke with some founders who are still rooting for SVB, said, "I feel like everyone has moved on." One founder at the party told her, "Thanks for reading! Karyne"
Black founders still care for Silicon Valley Bank
How to raise a substantial round with angel investors
Image Credits: FeelPic / Getty Images
‘Raising capital before the year ends doesn’t have to be a far-fetched dream,’ writes Caroline Chalmer, CEO of FoundersGiving. The platform connects startups with angel investors, making it easier for entrepreneurs to secure the funding they need.
Angel investors are crucial for scaling startups, but raising large sums can be challenging. Here are some tips to help you succeed:
- Start with a clear vision: Define your mission and what you want to achieve.
- Have realistic expectations: Don’t ask for more than your startup is capable of delivering.
- Leverage your network: Tap into connections within the startup ecosystem.
- Be transparent: Share regular updates on your progress and milestones.
These tips can increase your chances of securing a significant fund-raising round, which is essential for scaling your business.
AI in finance
Image Credits: Blaize / CC-BY-NC 3.0
Silicon Valley Bank’s reputation repair aligns with the growing importance of artificial intelligence (AI) in finance. AI is transforming how businesses operate, from automating processes to predicting market trends. As AI adoption continues to accelerate, companies are increasingly relying on experts like Blaize to guide their strategies.
The first AI chip startup to go public in 2025 will be Blaize. This innovative company is leveraging cutting-edge technology to revolutionize the financial sector.
Fintech
Image Credits: Viktor Gheorghita / Unsplash
Silicon Valley Bank’s efforts to rebuild its reputation also highlight the role of fintech companies in addressing systemic challenges. Fintech has become a critical industry, driving innovation and efficiency across various sectors. From mobile banking to blockchain technology, these companies are reshaping how we interact with finance.
Romain Dillet explored how Blaize is using AI to improve financial decision-making. This story underscores the potential of fintech to transform industries forever.
Startups
Image Credits: TechCrunch Daily News
Silicon Valley Bank’s focus on community and support reflects the importance of startups in the tech ecosystem. Startups are the backbone of innovation, providing new ideas and perspectives that drive industry progress. TechCrunch has been covering startups for years, helping readers stay informed about the latest developments.
Sean O’Kane reported on Tesla’s funding request, which faced delays due to complications with its charging infrastructure. This highlights the challenges startups face when seeking growth capital.
Lauren Forristal covered Patrick Spence, CEO of Sonos, who is stepping down after a series of app update mishaps. This story emphasizes the need for robust product testing and customer feedback in building successful tech companies.
Romain Dillet explored how to delete Facebook, Instagram, and Threads from your phone. These stories provide practical advice for managing digital presence and avoiding clutter.
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