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Seraphim Space Investment Trust PLC confirmed on Wednesday it ‘does not bank’ with collapsed Sillicon Valley Bank, and neither does its investment manager, Seraphim Space Manager LLP.
The London-based space technology investment firm said eight portfolio companies use SVB as their primary banking provider, adding that it ‘does not anticipate that the recent SVB events will have any impact on the company’s NAV.’
Seraphim Space’s statement comes after SVB, the 16th largest bank in the US, collapsed last week following a string of doomed financial investments.
Seraphim Space shares were up 4.8% at 44.60 pence in London on Wednesday afternoon.
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