CompaniesBIO

In this photo illustration of the TradingView stock market chart of SVB Financial Group seen displayed on a smartphone with the SVB Financial Group logo in the background.  Igor Golovniov | Lightrocket | Getty Images Venture capital firms on both sides of the Atlantic have been urging their portfolio companies to move money out of embattled lender Silicon Valley Bank, deepening fears of a run on the tech-focused bank. Silicon Valley Bank shares plunged 60% Thursday after disclosing that it needed to shore up its capital with a $2.25 billion equity raise from investors including General Atlantic. The company's stock was down another 60% in premarket trading Friday. SVB is a major bank in the technology startup space, having developed relationships with the VC community over its four decade existence. Providing traditional banking services while also funding tech projects, it is considered a backbone of the venture capital industry in the U.S. Numerous VC funds, including major playe...

Kanye West arrives at the Vanity Fair Oscar Party on Feb. 9, 2020, in Beverly Hills, Calif. Evan Agostini | Invision | AP British audio and computing hardware startup Kano is planning to raise equity funding from its users and fans, as the company tries to chart a path forward after cutting business ties with Kanye West, also known as Ye. The firm will launch a crowd funding campaign on Crowdcube on Tuesday, Kano's CEO Alex Klein told CNBC. Ordinary users will be able own a slice of Kano alongside its institutional backers, which include Microsoft and billionaire investor Jim Breyer's Breyer Capital. It's seeking to raise $900,000 from individual investors in the U.K. and Europe. The company also plans to expand the crowdfund to the U.S. Kano, which sells hardware targeted at musicians and creatives, has undergone a few dramatic twists over the years. Initially started as a venture to help kids code with easy to build computer kits, the firm has since moved much of i...