(The Information) Since the collapse of Silicon Valley Bank, Rocky Gor, the founder and CEO of Los Angeles–based loan marketplace Capx, has been approached by a handful of small venture capital firms with a problem: No one will lend to them.
In the past, these VC firms relied on a specialized credit line offered by SVB and a handful of other banks, including First Republic Bank, that plugged the gap between when the investors, or limited partners, commit capital to VC funds and when that cash actually arrives.
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