How Minnesota's venture-backed businesses navigated Silicon Valley Bank's collapse

Early Monday morning, after days of intense anxiety and stress, Liz Giorgi finally exhaled.

Giorgi — the chief executive and co-founder of a Minneapolis-based on-demand photo and video services studio called Soona — could access her company's deposits from Silicon Valley Bank, the Santa Clara, Calif.-based lender that collapsed at the end of last week following a tumultuous bank run.

Giorgi had backup plans to meet payroll and protect Soona's 150 or so employees in case funds didn't land Monday.

https://www.startribune.com/how-minnesotas-venture-backed-businesses-soona-startup-navigated-silicon-valley-bank-collapse/600258548/