Official press release from Invest Europe, the association representing Europe’s private equity, on Silicon Valley Bank

Official press release from Invest Europe, the association representing Europe’s private equity, on Silicon Valley Bank

(IN BRIEF) Invest Europe, the association representing Europe’s private equity, venture capital, and infrastructure sectors, has expressed concern over the collapse and receivership of Silicon Valley Bank on March 10, 2023. While the impact on US venture capital firms, start-ups, and scale-ups is expected to be significant, Invest Europe welcomes the news that depositors of SVB will be able to access their money as of March 13 and the announced sale of SVB UK to HSBC will ensure the same in the UK. The association will continue to monitor developments that may affect its membership.

(PRESS RELEASE) BRUSSELS, 13-Mar-2023 — /EuropaWire/ — Invest Europe, formerly known as EVCA, European Private Equity & Venture Capital Association represent the private equity community across Europe, helping to connect and inform private equity firms and stakeholders across the industry, has expressed concern over the collapse and receivership of Silicon Valley Bank on March 10, 2023.

The impact of this on US venture capital firms, start-ups, and scale-ups is expected to be significant, with implications extending to the UK where Silicon Valley Bank UK was well established and entered into insolvency on 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 and the announced sale of SVB UK to HSBC will ensure the same in the UK. Nonetheless, the association will continue to closely monitor developments as they may affect its membership.

Media enquiries:

Eric Drosin
COMMUNICATION
Communication Director

SOURCE: Invest Europe