The Bank of London has confirmed an offer for SVB UK as start-up founders warned Jeremy Hunt that its collapse will 'cripple' the British tech sector, Sky News learns
Oaknorth is a business lender founded by a prominent former Conservative Party donor, Rishi Khosla, and was valued at nearly $3bn in a funding round in 2021.
UK depositors stand to receive up to £85,000 as part of the resolution of the British arm of SVB, sparking fears about the fate of substantial amounts of funding in the start-up community. In a draft letter seen by Sky News, founders including those from Adzuna, Signal AI, JustPark and Thriva called on Mr Hunt to intervene.
"This weekend the majority of us as tech founders are running numbers to see if we are potentially technically insolvent."The Bank of England's assessment that SVB going into administration would have limited impact on the UK economy displays a dangerous lack of understanding of the sector and the role it plays in the wider economy, both today and in the future."
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
SVB’s collapse is not a harbinger of another 2008\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Weiterlesen »
The policy compromises needed to resolve the SVB implosion\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Weiterlesen »
Yellen says government will help SVB depositors but rules out bailout\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Weiterlesen »
SVB provided for tech when everyone else ignored us\n\t\t\tLet our global subject matter experts broaden your perspective with timely insights and opinions you\n\t\t\tcan’t find anywhere else.\n\t\t
Weiterlesen »
SVB collapse leaves founders liable for unpaid wages\n\t\t\tKeep abreast of significant corporate, financial and political developments around the world.\n\t\t\tStay informed and spot emerging risks and opportunities with independent global reporting, expert\n\t\t\tcommentary and analysis you can trust.\n\t\t
Weiterlesen »