VEF, the Emerging Market Fintech Investor, comments on the SVB (Silicon Valley Bank) situation - VEF has no direct exposure

In light of incoming questions from the market over the past days, we believed it prudent to communicate our position and lack of exposure to the SVB situation.

SVB is a sizeable US-listed bank with a heavy focus on banking the Venture Capital and Tech Ecosystem, both US and globally. While we take no formal view on what is happening at SVB, in light of the evolving stress situation, we felt it prudent to clearly communicate our position.
 
VEF has no direct banking relationship, nor ever did, with SVB. Our banking relationships are with tier 1 Swedish banks, where we keep our liquidity, along with tier 1 money market funds. 
From a portfolio standpoint, the vast majority of our companies have no exposure to SVB. A couple of our holdings have very limited exposure.

Datum 2023-03-13, kl 08:00
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