​​This is a bi-weekly newsletter of curated actionable insights and resources for underestimated founders, funders, and friends. We're nearly 20K and growing.

​​👀 ICYMI: Ganas turned 1 and welcomed angel LPs. Get the deets here.

​🗓️ Join our Ganas x ACT House Office Hours in Tulsa, OK on 3/30. RSVP.

​Irma C (Bitwise), Julia C (MoonShot), Valentina V (Vaas), Ruben H (Credit Karma)

​There was a bit of relief felt this week, but stress and frustration are still running high. In this Sunday’s edition, I will share what happened last week, what people are saying, potential implications, and make suggestions on what to do in this economic environment for the benefit of our community.

​Last week, there was a bank run at Silicon Valley Bank (SVB) to the tune of $42 billion in one day after hysteria spread on Twitter. Many of us in the startup ecosystem let out a big sigh of relief after the Federal Reserve, Treasury Department, and FDIC announced on Sunday that they would ensure SVB and Signature Bank deposits would be paid in full.

​However, there are lingering stress and frustrations due to people's opinions. Some are calling this the canary in a coal mine, while racists are incorrectly blaming SVB's closure on diversity. The truth is that SVB was a supporter of our community (because they believed in our ability to create returns), but ultimately, they were run by white men. Some are frustrated that companies and people will have access to their funds because they incorrectly see what's happened as a bailout for the rich. To be clear, this is not the case - there was no bailout for the C-Suite or shareholders.

​What happened was a government intervention to try and stop the contagion of hysteria around banks and protect depositors without it costing taxpayers money. And if the government had not intervened, many founders and fund managers would likely have been forced to close shop due to their inability to access their cash and make payroll. Luckily, this is not the case.

​The potential implications of what’s happened in the last week include: interest rate hikes may slow down, spooked investors (who will likely pause, have stricter due diligence, and make fewer investments for some time), founders and fund managers opening multiple bank accounts to make sure their total deposits are FDIC insured, a gap in venture debt access, more expensive money, and an unjust backlash on diversity.

​All that said, let’s focus on what’s in our control, do what we can to mitigate risk, and know that the power of community can be good or bad. This is a good time to ensure you have an emergency management plan and budget in a secure account. Know your bank account options, like Mercury (port co) which will insure depositors cash up to $3 million. Know your emergency loan options. Know that diversity is getting the short end of the stick right now, so stand up for our community and be an ally. We’ve got to help each other and work together to win.

​Special shout out to the Ganas Ventures' founders, funders, and SVB friends who came together last week to help each other and the rest of the community! You are appreciated.

​​​​​​​✨ Lolita Taub, GP at Ganas Ventures | twitter | luma 
Recently in Forbes, Nasdaq, Techcrunch, Signature Block, Levantando, 500 LATAM

​​​​​​Congrats

​Ganas Ventures turned 1! Julia Collins's Moonshot Snacks was acquired by Patagonia Provisions. Irma Olguin of Bitwise raised $80M. Carli Sapir raised $20M for Amboy Street's Fund I. Valentina Valencia raised $5M for Vaas's Seed. Gina Gotthilf, Brian Requarth and Yuri Danilchenko of Latitud (port co) launched Meridian for LATAM startups. Babba Rivera of Ceremonia (port co) launched a weightless shampoo and conditioner for fine hair. Yehong Zhu of Zette (port co) and Arjay Ruggles of Homeroom (port co) were selected for Mercury's (port co) Raise Seed list. Ruben Harris's Career Karma (port co) made America's Best Startup Employers 2023 list.

​​​​​​Sponsored | Are you a Latino founder interested in funding and support from Google? The Google for Startups Latino Founders Fund provides $150,000 in cash, $100,000 in Cloud credits, access to Google mentors, and mental health therapy at no cost to you. Apply by March 26th! Learn more here.

​​​​​​Funders

​Crunchbase | Learn how the downturn will show us what LPs are real allies

​​​Hustle Fund | Get a list of good reasons to reject LP money

​​Asking for a funder | Meet and invest in women founded startups

​​​​​​Startup-Investor Matching Tool | VCs: meet thesis-aligned underrepresented founders

​​​​​​Sponsored | Founders and friends: Ganas Ventures is in Tulsa, Oklahoma this month for the ACT Accelerator Demo Day & VC Day, and you're welcome to join us for informal startup office hours at 36 Degrees North Incubator on March 30th!

​​​​​​Founders

​​Asking for a founder | Find out what mistakes to avoid when fundraising

​​​​​​​​Asking for a founder | Get tips on how to get intros to VCs

​​Asking for a founder | Access a list of trustworthy banks to bank with

​​​​​​LaaS | Underrepresented founders: get resources made for you

​​​​​​Sponsored | Founders, funders, and friends: community-driven companies are great for founders and investors in bear markets. Find out why in our post: The Rise of Community-Driven Companies: Why They are Great for Founders and Investors.

​​​​​​Money

​​​​​Camelback | BIPOC founders: apply for $40K by 3/20

​Google for Startups | Latino founders: apply for $100K by 3/26

​Ganas | Community-driven founders: apply for $100K

​​Workers Lab​ | BIPOC women: apply for $200K

​​Amber | Women founders: apply for <$10K grants

​​​MEDA | SF women founders: apply for <$5K grants

​​​Olgas | Michigan women founders: apply for $10K grants

​​​Movemeant | BIPOC women fitness founders: apply for a $1-5K grant

​​​​​​Fearless Fund | Black women founders: apply for $10K grants

​​​​​​​SoGal Foundation | Black women founders: apply for $5-$10K in grants

​​​​​​​1863 Ventures | Black founders: apply to get a 3Rs $5K grants

​​​​​​​Non-dilutive capital | Create a profile to find non-dilutive capital

​​​​​​​Equity Crowdfunding | Raise up to $5 million

​​​​​​​Startup-Investor Matching Tool | Founders: get intros to investors

​​​​​​Want more? Follow me @lolitataub and let me know how I can help. Want to support our newsletter and get featured? Become a sponsor.