Emerging managers hope that the new SVB will provide similar support to new VCs

before it breaks down, Silicon Valley Bank was known to many startups and venture firms as a place to park their money or draw a line of capital. But there was much more to the budding managers than a financial institution.

Several emerging managers told TechCrunch+ that SVB has been instrumental in helping them build their companies from the ground up. It supports them to build networks and feel included in the venture ecosystem regardless of their size. After the bank’s collapse and the ensuing chaos, many wondered whether the things they loved most about SVB would continue.

Unlike many of their banking competitors – like venture-friendly First Republic Bank – SVB is designed to work with people in the venture community; It had options for small amounts that other banks did not.

Andav Capital’s chief executive officer and general manager, Nisha Dese, said SVB was a natural choice for new managers like herself because it had the small balance sheet — or net worth — that many other banks had. These types of restrictions usually limit money for the first time. In addition, SVB provided capital lines to these small funds, allowing them to begin building their track records while raising funding.

“From your new funds, they give you some capital to go ahead and invest in companies,” Desai said. “That was important. It obviously didn’t roll out to everyone, but that allowed new managers to get off the ground.

But emerging managers say that while back-end banking is what led them to partner with SVB in the first place, its commitment to emerging managers is what keeps them in the relationship.