Tech venture capital investor Molten Ventures said it expected no impact from the collapse of Silicon Valley Bank, after the lender’s UK arm was rescued by HSBC.
The company confirmed SVB UK provided 40% of Molten’s current undrawn credit of up to £60m and a £90m term loan.
“Furthermore, Molten has a strong cash position, with gross cash balances currently in excess of £30m of which less than £1m is currently deposited with SVB UK,” the company said on Tuesday.
It added that it had “worked closely with its portfolio companies to further improve the position over recent days”.
Reporting by Frank Prenesti for Sharecast.com
