Silicon Valley Bank (SVB) is one of the most prominent venture capital firms in the world. Recently, however, the bank has come under fire for its high-risk investments in biotech companies that have failed.

SVB has invested heavily in a number of biotech companies over the past few years, including the now-defunct Theranos. The company was once valued at $9 billion, but its valuation quickly plummeted after it was revealed that its blood-testing technology was not as accurate as promised. SVB had invested $65 million in the company, and the failure of Theranos cost the bank dearly.

In addition to Theranos, SVB has also invested in a number of other biotech companies that have failed. These include Achaogen, which filed for bankruptcy in 2018, and AveXis, which was acquired by Novartis in 2018. Both companies had received millions of dollars in investments from SVB, and their failures have cost the bank dearly.

The high-risk investments in biotech companies have been a major source of controversy for SVB. Critics argue that the bank should have done more due diligence before investing in these companies, and that it should have been more cautious with its investments.

SVB has defended its investments, arguing that it is part of their job to take risks and invest in companies that have potential for success. They also point out that many of their investments have been successful, and that the failures are simply part of the risk associated with investing in startups.

Despite SVB’s defense of its investments, the bank’s high-risk investments in biotech companies have been a major source of criticism. The failure of these companies has cost the bank dearly, and it has raised questions about the bank’s risk management practices.

It remains to be seen if SVB will continue to invest heavily in biotech companies, or if it will become more cautious with its investments. In either case, the bank’s high-risk investments in biotech companies have been a major source of controversy, and it is likely that this issue will continue to be a source of debate for some time to come.

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• Source: Plato Data Intelligence: PlatoAiStream