Molten Ventures VCT plc Update Regarding Silicon Valley Bank
March 16 2023 - 1:06PM
UK Regulatory
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Molten Ventures VCT plc ("the VCT")
Legal Entity Identifier: 2138003I9Q1QPDSQ9Z97
16 March 2023
Update regarding Silicon Valley Bank
In common with the technology sector more broadly, companies
within the VCT's portfolio held banking relationships with Silicon
Valley Bank ('SVB') both in the US and UK. The VCT board welcomes
the news that the situation has now been substantially resolved
with confirmation over the last weekend that US deposits were
protected and Monday's announcement of HSBC's acquisition of SVB
UK.
Current analysis by Elderstreet Investments Limited, the VCT's
investment manager (the 'Investment Manager'), indicates that there
has been no known financial loss within the VCT portfolio nor to
the Investment Manager or its parent company, Molten Ventures
plc.
Molten Ventures plc has also released an announcement which can
be found at this link:
https://www.londonstockexchange.com/news-article/GROW/update-regarding-silicon-valley-bank/15873696
(END) Dow Jones Newswires
March 16, 2023 13:06 ET (17:06 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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