"It's a learning experience for financial institutions rather than for startups," Francisco Guzmán, president of the ACVC, told La Tercera referring to the Silicon Valley Bank crisis.
"There is no relationship between the VC industry and what happened with the bank failure, but the other way around. It is the financial system that has fragilities, something we had already seen with the Subprime Crisis in 2008," he added.
The ACVC president was also consulted by Diario Financiero, where he explained: "...That a bank should fall so quickly is something that raises this alarm and is obviously bad news for everyone," he said.
The SVB crisis "does not directly affect the Chilean venture capital industry because Chilean companies that had exposure to Silicon Valley Bank or that interacted with it at a financing level were few," he said. But he warned that there could be an indirect impact in terms of how future investors will view such things.
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La Tercera: https://bit.ly/3Tepbz2
DF: http://bit.ly/404Xaw3