Venture capitalists and their portfolio companies have placed a newfound premium on cash in the wake of the coronavirus crisis.
Thus far, the focus on cash has worked; the investors who spoke to Business Insider said they hadn't yet had to shut down any of their portfolio companies.Until about three months ago, startups in Silicon Valley gave little thought to a seemingly important business detail: cash. Suddenly cash is king, as the frightening reality of a slowing economy has caused the commodity's value on a balance sheet to appreciate considerably in the eyes of both startups and their VC backers.
"There wasn't really some magical number there," he said. "It [was] just like, hey, you could raise money when you're ready."
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