A week after Silicon Valley Bank collapsed, a group of venture capital firms wrote to the shell-shocked start-ups they had put their money into. It was time, they said, to talk about the “admittedly not so sexy” function of treasury management.
Days of scrambling to account for their companies’ funds presented a generation of founders with an uncomfortable fact: for all the effort they had put into raising cash, few had spent much time thinking about how to manage it.
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