Kinnevik's comment on Silicon Valley Bank
Kinnevik AB (publ) (“Kinnevik”) notes the announcement from US authorities of various measures to strengthen the US banking system, including the protection of all deposits with Silicon Valley Bank (“SVB”). Kinnevik has worked with a limited number of investee companies on contingency plans to manage potential strains on liquidity. The aggregate exposure is deemed to be not material.
For further information, visit www.kinnevik.com or contact:
Torun Litzén, Director Investor Relations Phone +46 (0)70 762 00 50 Email press@kinnevik.com
Email: press@kinnevik.com
Kinnevik’s ambition is to be Europe’s leading listed growth investor. We back the best digital companies for a reimagined everyday and to deliver significant returns. We understand complex and fast-changing consumer behaviours, and have a strong and expanding portfolio in healthcare, software, marketplaces and climate tech. As a long-term investor, we strongly believe that investing in sustainable business models and diverse teams will bring the greatest returns for shareholders. We back our companies at every stage of their journey and invest in Europe, with a focus on the Nordics, and in the US. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.