Silicon Valley Bank shutdown leaves start-ups anxious about their funds

Silicon Valley start-ups are scrambling to pay staff and identify sources of back-up funding after regulators stepped in and shut down Silicon Valley Bank on Friday morning, stranding deposits that serve as the lifeblood of many early-stage technology companies.

The bank was the 16th largest in the US and a central part of the Silicon Valley ecosystem, serving roughly half of all venture fund-backed technology start-ups and many of their investors.