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ABC News
ABC News
Business
business reporter Nassim Khadem

The SVB collapse 'contagion effect' will make it harder for startups, and more banks may fall

How SVB collapse is hitting the tech start-up ecosystem (Nassim Khadem)

It was 5:30am on Friday, March 10, in Sydney when startup founder Lauren Humphrey first got word that Silicon Valley Bank (SVB) was in dire trouble.

SVB's shares had fallen more than 60 per cent when the bank said it planned to sell shares to raise capital after taking a $US1.8 billion ($2.7 billion) charge from the sale of some assets.

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