Silicon Valley Bank CEO Tells VC Clients to ‘Stay Calm’

Silicon Valley Bank CEO Greg Becker on Thursday told top venture capitalists in Silicon Valley to “stay calm” amid concerns around a capital crunch that wiped nearly $10 billion off the bank’s market valuation.

On a call, Becker said that “calls started coming and started panic.” He added that the bank has “ample liquidity to support our clients with one exception: If everyone is telling each other SVB is in trouble, that would be a challenge.”

“I would ask everyone to stay calm and to support us just like we supported you during the challenging times,” he said.