100% authentic. From one of the most important banks in tech history. NWT.

Silicon Valley Bank (SVB) was founded in 1983 in Santa Clara, California, by Bill Biggerstaff and Robert Medearis, both veterans of the banking and technology industries. The founders saw an opportunity to create a financial institution tailored specifically to the unique needs of the region’s emerging tech startups—companies that often struggled to secure financing from traditional banks due to their unconventional business models and lack of tangible assets.

Throughout the 1980s and 1990s, SVB became a cornerstone of the Silicon Valley ecosystem, offering venture debt, cash management, and startup-friendly lending products that aligned with the rapid innovation cycles of the tech sector. The bank developed close relationships with venture capital firms, becoming a preferred lender to early-stage companies that would go on to become major players in technology and biotech.

During the 2000s and 2010s, SVB expanded globally, opening offices in innovation hubs such as London, Shanghai, and Tel Aviv. It grew alongside the tech boom, supporting startups through IPOs and acquisitions and managing billions in deposits from venture-backed firms.

However, in March 2023, SVB faced a sudden and historic collapse after a rapid run on deposits. The failure was largely attributed to its heavy concentration of uninsured deposits from tech clients and unrealized losses on long-term securities amid rising interest rates. The collapse marked the second-largest bank failure in U.S. history and sent shockwaves through global financial and tech communities.

Despite its downfall, SVB’s impact on the startup and venture capital landscape remains profound—it was instrumental in shaping how innovation was financed and supported across the world.