SVB collapse takes tech industry into 'uncharted territory'

The collapse of Silicon Valley Bank has taken the tech industry into "uncharted territory" and venture capital now seeks more solidity in its investment targets, says Damien Greathead of Intuit QuickBooks. The company's head of marketing for the accountant and adviser group, speaking on the latest Accountants Daily podcast, said a mood change was detectable months ago. "Just before Christmas and the end of 2022, I did see a slowing of capital and venture capital going into start-up firms," Mr Greathead said. "I think venture capital firms and investment firms were taking a step back. "I think firms are looking for much more stability and much more sustainability in the growth of their potential investment targets."