FDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report

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FDIC backstopped Sequoia and other bigger companies when it covered uninsured deposits at Silicon Valley Bank: Bloomberg report
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The Federal Deposit Insurance Co.’s guarantee of uninsured deposits at Silicon Valley Bank benefitted not only thousands of small tech startups, but it also...

The Federal Deposit Insurance Co.’s guarantee of uninsured deposits at Silicon Valley Bank benefitted not only thousands of small tech startups, but it also provided a backstop for larger players such as venture capital firm Sequoia Capital, according to a report by Bloomberg on Friday.

’s guarantee of uninsured deposits at Silicon Valley Bank benefitted not only thousands of small tech startups, but it also provided a backstop for larger players such as venture capital firm Sequoia Capital, according to a report by Bloomberg on Friday.

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