Molten Ventures PLC (LSE:GROW) is leading losses on the FTSE 350 index with a 16% plummet to 309.4p, sparking concerns over SVB contagion hitting London-listed tech venture firms.
Molten Ventures, which is a major backer of fintech group Revolut, has a £150mln debt facility with SVB, according to a Telegraph report.
SVB previously acted as a security agent for Molten Ventures, according to Companies House’s database.
While it is not generally known what companies are exposed to SVB, or have deposits tied up in the bank, investors are clearly concerned that tech start-ups, SVB’s bread and butter, stand to suffer from the ongoing crisis engulfing the bank.
Molten Ventures also has investments in Cazoo, Trustpilot and Crowdcube.
Proactive has asked Molten Venture for a comment.