First Citizens is no SVB, but its track record working with entrepreneurs and focus on client services should be encouraging to Silicon Valley venture capitalists and startups
While First Citizens Bancshares Inc. may not have the record of Silicon Valley Bank in serving the startup ecosystem, venture capitalists and entrepreneurs who are familiar with the Raleigh, N.C.-based bank say its emphasis on customer relations fits well with SVB’s flexible approach to serving clients.
Venture and startup players had wondered about the fate of SVB since the Federal Deposit Insurance Corp. took ownership of it in March and put it up for auction. First Citizens has since taken on most of the assets and liabilities...
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