CFO's here, let's say I raise a round like that. What do you do with $1B in cash to manage it in the short and near term though? Is it just stuck in the money market or t-bills or what? Even if the growth of the company is the main bet, that cash has to exist as something with a better return than cash.
I assume that service is what SV bank provided before it tanked, but someone has to manage that cash for the few years it takes to burn through it. What kind of service do you park that in.
Sometimes, these very large rounds are delivered in tranches based on milestones. It's possible that SSI didn't receive the entire $1BN at the close of the fundraise but rather can "call capital," much like a VC fund does, as it needs it based on scaling.
I assume that service is what SV bank provided before it tanked, but someone has to manage that cash for the few years it takes to burn through it. What kind of service do you park that in.