Since Thursday afternoon, Milwaukee attorney Daniel Gawronski and his team at Venture Best have been fielding calls from clients concerned about Silicon Valley Bank (SVB).
The bank, which worked with many growing startups and technology companies, swiftly shut down Friday when federal regulators seized control of the institution’s assets less than two days after SVB officials announced it had lost nearly $2 billion. That left startups — including some of Gawronski’s clients — scrambling to access their funds.
“It’s been a crazy few days,” said Gawronski, a partner with Venture Best, the startup arm of the Michael Best & Friedrich LLP law firm. He works with technology companies primarily based in Wisconsin and the Midwest, but also nationwide.