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The failure of Silicon Valley Bank, a longtime favorite of the tech industry, has venture capitalists scrambling to help portfolio companies that are depositors with the bank and make sure their own firms’ deposits are safe. One VC described the bank’s collapse as an “extinction level event” for technology start-ups.

Cautionary tales of governance failures and heightened litigation risk have some VCs rethinking their due diligence processes.

At 29, Dan Chaplin has been promoted three times in five years and now co-leads the London VC firm’s fintech and digital assets segment.

The outsized capital demands of investors in late-stage deals have caused corporate VCs, hedge funds and others to flee VC amid a less alluring risk/return profile as exits dry up.

The anchor investor is German development bank KfW, and other LPs include the European Investment Bank, International Finance Corporation, Dutch entrepreneurial development bank FMO and Bpifrance Investissement.

The San Francisco firm's third fund has surpassed its $15m target and expects to close in the first half of 2023.

Of the $424m MassPRIM committed to diverse managers last year, $158m went to four managers of venture capital and/or growth funds.

Pierre Mauriès, a former executive with The Carlyle Group and the Private Equity Technology practice director at PwC, is nearing a first close on a $500m fund for Nemesis Technologies.

One of the two asset managers to which California Public Employees’ Retirement System allocated a combined $1 billion this week to expand diversity in alternative investment management said venture capital will be a key component of the inaugural fund it is launching with the pension fund’s capital.

Providing value-add services to founders has become a key differentiator in an increasingly crowded venture market.