SVB situation: 100+ startups needed financing, private credit stepped up, $50M secured in 36-48 hrs!

"For example, like the SVB situation, right? That weekend, we had several 100 startups reach out to us saying they need bridge financing, they need senior secured term loan financing, they gotta make payroll, right. And the reality is, your no bank is gonna step in over a weekend and help you with that, at the very least, right? We had dozens of underwriters who were ready to go, we had dozens of investors that want to support the ecosystem. By the end of that weekend, before the Treasury Department probably literally bailed out the global banking system, we had done about two dozen startups with about 50 million in capital ready to go by Monday morning, if nothing came through, right. And so there is no world where anything outside of private credit, we'll be able to support that type of activity over the course of 36-48 hours. And that's a testament to sort of the power of the asset class." Nelson Chu https://www.thebillionairepodcast.com/85