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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.

For further information please contact:

Henrik Stenlund, CFO: +46 (0) 8-545 015 50

About Us

VEF AB (publ). is an investment company whose Common Shares are listed in Sweden. We invests in growth stage private fintech companies, take minority stakes and are active investors with board representation in our portfolio companies, always looking to back the best entrepreneurs in each market. We focus on scale emerging markets and invest across all areas of financial services inclusive of payments, credit, mobile money and wealth advisors. VEF trades in Sweden on Nasdaq Stockholm's Main Market under the ticker VEFAB. For more information on VEF, please visit http://www.vef.vc.

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

Datum 2023-03-13, kl 08:00
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VEF, the Emerging Market Fintech Investor, comments on the SVB (Silicon Valley Bank) situation - VEF has no direct exposure
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