New Zealand tech start-ups are breathing a sigh of relief after the US regulators guaranteed depositors' funds in the failed Silicon Valley Bank.
It's believed Kiwi companies, including Rocket Lab, Comvita and Ike-GPS, had invested more than $100 million between them.
It's been a nervous few hours for the world's tech start-ups.
Faced with the loss of $300 billion from the collapsed Silicon Valley Bank, America's 16th largest and most tech-friendly bank, the Fed reached a deal on Monday morning.
"It was a pretty sleepless weekend for a lot of founders, but it looks like on Monday the concern of making payroll and paying bills is not what it was," Robbie Paul said.
Paul is the chief executive of venture capitalists Icehouse Ventures. He's now optimistic for the startups his company backs here in New Zealand.
"Entrepreneurs that are solving big problems and building new technology will thrive over the long term," he said.
"So this was an unsettling event but there are just too many tailwinds for great people building big companies to solve global problems."
New Zealand was the world's first barometer for nervous investors. But look what happened at 11:15am, when that official guarantee came through from The Fed.
"If you did see contagion or issues filter through to the rest of that US financial system, they could reverberate around the world too, so very important that the authorities have got this under control," said Mark Lister, investment director at Craigs Investment Partners.
Rocket Lab leads the list of New Zealand companies estimated to have had $100 to $200 million deposited in the bank - not huge in global terms. But the tech sector was particularly exposed.
"I think it does highlight the fragility of the eco-system and the risks, both the known and the unknown, that the tech companies face as they try to grow, but this was a positive step," Paul said.
And it turns out this may not be the most significant financial announcement coming out of the US this week.
Tuesday night's inflation figures could have a huge bearing on interest rates around the world.
