Which companies are affected by SVB collapse

SVB Financial Group, a startup-focused lender, became the largest bank to fail since the 2008 financial crisis last week, sending shockwaves across the global financial system and pushing authorities to step in to minimise the consequences.

Concerns were also voiced that increasing interest rates would expose weaknesses in the global economy as a decades-long period of cheap money came to an end.

The following is a list of corporations from across the world that hold deposits with the bank:

THE UNITED STATES OF AMERICA

Businesses in the United States declared around $5 billion in deposits with the bank, in addition to other credit facilities.

ROBLOX

According to the online gaming company, SVB had around 5% of its $3 billion cash and securities balance, or approximately $150 million, as of February 28.

ROKU

The developer of streaming gadgets claims to have $487 million, or 26% of its cash and cash equivalents, in deposits with SVB.

BUZZFEED

The digital media company stated that by the end of 2022, it had around $56 million in cash and cash equivalents, the majority of which was kept at SVB.

SUNLIGHT FINANCIAL HOLDING CORPORATION

As of March 10, the majority of the company’s unconstrained cash, or $64 million out of $73.2 million, was with SVB.

ACUITYADS HOLDINGS INC

The Canadian technology business claims to have $55 million in deposits in US bank accounts with SVB.

ASTRA SPACE INC

According to the rocket manufacturer, its cash is held on deposit at SVB, and the sum represents about 15% of the company’s current cash, cash equivalents, and marketable securities as of March 10.

COHU, INC.

The semiconductor products manufacturer claims to have bank accounts with SVB totaling around $12.3 million, or approximately 3.8% of the company’s total cash and assets.

ROCKET LAB USA INC

According to the rocket manufacturer, it held bank accounts with SVB totaling around $38 million, or nearly 7.9% of the company’s total cash and cash equivalents and marketable securities as of December 31.

ALKAMI TECHNOLOGY INC.

According to the digital banking solutions provider, it had deposit accounts with SVB totaling around $3.3 million, as well as approximately $8.3 million in “sweep” accounts used by SVB to acquire external assets.

STITCH FIX

The online styling service company predicts that its $40 million credit line with SVB would be unavailable owing to the bank’s failure.

CIRCLE

Circle, a cryptocurrency corporation based in the United States, says SVB has $3.3 billion of its $40 billion in USD Coin reserves.

BLOCKFI

According to the Wall Street Journal, bankrupt crypto lender BlockFi Corp has around $227 million in unsecured money with SVB.

GLOBAL PAYONEER INC

According to the worldwide payments provider, less than $20 million of its total cash balances as of December 31 were kept with SVB.

LENDINGCLUB Corp

According to the financial institution, which had $8 billion in total assets as of Feb. 28, its relationship with SVB is limited to $21 million in cash on deposit, and therefore does not represent a risk to the company’s continued operations.

VIR BIOTECHNOLOG

According to the biotech business, it had around $220 million in running accounts with SVB as of Friday.

SUNRUN

Sunrun Inc (RUN.O) said it has almost $80 million in cash deposits with SVB, while SVB’s undrawn commitment under the non-recourse senior aggregation warehousing facility is around $40 million.

INTERNATIONAL SUNNOVA ENERGY INC

Sunnova’s subsidiary is a lender in a credit facility with unmet obligations of $15 million under a Back-Leverage Facility.

OAK STREET HEALTH INC 

According to the healthcare organisation, SVB is a lender for a $300 million term loan credit facility with Hercules Capital Corp, from which the company has drawn $75 million.

GINKGO BIOWORKS HOLDINGS INC

According to the drugmaker, the cash balance of its subsidiary Zymergen Inc is maintained in deposit accounts with SVB, representing about $74 million of the company’s cash.

ALPHATEC HOLDINGS INC 

The medical technology firm says it maintained deposit accounts with SVB of about $14 million that are used for its day-to-day operations.

EUROPE

Around 16 tech and life sciences companies in Europe have disclosed about $190 million in exposure to SVB in the UK and the United States.

TRUSTPILOT GROUP PLC

The Danish firm, which runs a global review platform, says SVB UK was its principal banking partner, with $36 million held in the bank and $18 million is currently in transfer out of SVB UK but pending confirmation

DIACEUTICS

The technology and solutions provider to the pharma industry warns of material uncertainty over its ability to service its working capital in the short term. It had most of its 22.2 million pounds in cash in SVB accounts and tried to move its cash before SVB’s closure but the transaction is pending.

ZEALAND PHARMA

The Danish drug developer has deposits totalling 162.6 million Danish crowns ($23.4 million) at SVB, which was about 15% of the group’s liquid funds

PHARMING GROUP NV

The biopharmaceutical company says it has $26 million of deposits at SVB U.S., and expects to not bear any losses on these deposits

KINNEVIK AB

The Sweden-based investment firm says its pro rata share of SVB deposits amounts to less than $20 million.

ALECTA

The Swedish pension fund, an SVB shareholder since 2019, has around 1,200 billion Swedish crowns ($111.94 billion) in assets under management and says its total investment in SVB was just under 9 billion crowns.

ASIA-PACIFIC

NITRO SOFTWARE

Australia’s productivity software maker Nitro Software Ltd said it had about $12.18 million of its global cash reserves held on deposit at SVB.