As the association representing Europe’s private equity, venture capital and infrastructure sectors, Invest Europe notes with concern the collapse, and receivership, of Silicon Valley Bank on March 10, 2023.
The impact primarily on U.S. venture capital firms and the start-ups and scale-ups they back will be significant, and this extending into the U.K. where Silicon Valley Bank UK was well established and entered into insolvency Friday March 10 according to the Bank of England.
Invest Europe welcomes the news that depositors of SVB will be able to access their money as of March 13, while the announced sale of SVB UK to HSBC will ensure the same in the U.K.
Nonetheless, Invest Europe will continue to closely monitor developments as, and if, they now affect its membership.
As the association representing Europe’s private equity, venture capital and infrastructure sectors, Invest Europe notes with concern the collapse, and receivership, of Silicon Valley Bank on March 10, 2023.