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Which businesses are impacted by the collapse of SVB?

SVB Financial Group (SIVB.O), a startup-focused lender, this week became the biggest bank to fail since the 2008 financial crisis, causing shockwaves around the world and leaving billions of dollars belonging to businesses and investors stranded.

The crash also sparked worries that, as a protracted period of low interest rates came to an end, increasing interest rates may reveal flaws in the world economy.


The following is a list of businesses from around the world that have disclosed their exposure to SVB:


N. AMERICA

Businesses in the United States admitted having over $4 billion in deposits with the bank in addition to other credit facilities.


ROBLOX (RBLX.N)

The online gaming company claims that as of February 28, around $150 million, or 5% of its $3 billion cash and securities balance, was stored with SVB.


ROKU (ROKU.O)

A manufacturer of streaming devices claims that around $487 million, or 26% of its cash and cash equivalents, are kept in deposits at SVB.


INC. ACUITYADS HOLDINGS (AT.TO)

Canadian software company claims to have kept $55 million in deposits in US bank accounts with SVB.


THE APPLOVIN CORP (APP.O)

A mobile app development company claims that as of March 10 it had over $1 billion in cash and cash equivalents at SVB and less than $2 million in SVB-related credit facilities.


LANTRONIX INC (LTRX.O)

As of March 10, the manufacturer of networking products reported having deposits with SVB totaling roughly $6.7 million, or nearly 85% of its total outstanding deposits.


In the event that it is unable to recoup its deposits at SVB, Lantronix says it is looking into backup plans to finance its operations.

INC. ALKAMI TECHNOLOGY (ALKT.O)

According to a provider of digital banking solutions, SVB had deposit accounts with it with a combined balance of around $3.3 million, as well as roughly $8.3 million in "sweep" accounts that were used by SVB to buy external assets.


STITCH FIX (SFIX.O)

Online styling service provider says it expects that the bank's bankruptcy will prevent it from using its $40 million credit line with SVB. The line of credit was part of Stitch Fix's deal of $100 million to be received by three lenders - SVB, JPMorgan Chase Bank and Citibank.


CIRCLE

According to American cryptocurrency company Circle, SVB has $3.3 billion of its $40 billion in USD Coin reserves.


BLOCKFI 

Bankrupt crypto lender BlockFi Inc has roughly $227 million in unprotected funds at SVB, the Wall Street Journal reported on Friday.


PAYONEER GLOBAL INC (PAYO.O)

According to a global payments provider, SVB held less than $20 million of its approximately $6.4 billion in total cash balances as of December 31.


VIR BIOTECHNOLOGY (VIR.O)

According to a biotech company, as of Friday, its operating accounts at SVB had around $220 million.


SUNRUN (RUN.O) (RUN.O)

Sunrun Inc., a provider of residential solar energy, claims to have cash deposits with SVB totaling around $80 million. SVB's undrawn commitment in the non-recourse senior aggregation warehousing facility, however, is estimated to be worth roughly $40 million.


SUNNOVA ENERGY INTERNATIONAL INC (NOVA.N)

SVB participates in a credit facility with unmet commitments of $15 million under a back-leverage facility that includes Sunnova's subsidiary.


OAK STREET HEALTH INC (OSH.N)

A healthcare company claims that SVB, along with Hercules Capital Inc., is the lender for a $300 million term loan credit facility from which the company has borrowed $75 million.


GINKGO BIOWORKS HOLDINGS INC (DNA.N)

The cash balance of the drug developer's subsidiary Zymergen Inc., or around $74 million in cash and cash equivalents as of December 31, is reportedly kept in deposit accounts at SVB.


ALPHATEC HOLDINGS INC (ATEC.O)

A medical technology company claims to have daily operating deposit accounts with SVB totaling roughly $14 million.


CYMABAY THERAPEUTICS INC (CBAY.O)

According to a liver disease specialist, SVB served as the company's commercial bank and investment portfolio manager. As of March 13, the company owned around $6.3 million in SVB depository accounts.


EUROPE

16 IT and life sciences firms in Europe have revealed exposure to SVB in the US and UK totaling around $190 million.


TRUSTPILOT GROUP PLC (TRST.L)

The Danish company, which operates a global review platform, claims SVB UK was its primary banking partner. It holds $36 million in the bank, and $18 million is currently being transferred out of SVB UK, but confirmation is awaiting.


DIACEUTICS (DXRX.L)

The company that provides technologies and solutions to the pharmaceutical industry issues a serious caution regarding its short-term working capital servicing capacity. It attempted to shift the majority of its 22.2 million pounds in cash held in SVB accounts before SVB closed, but the transaction is still pending.


DIANOMI (DNM.L)

The provider of digital advertising services claims that SVB and SVBUK had around 3.8 million pounds in various currency accounts, and it is working hard to retrieve these deposits.


GLANTUS HOLDINGS (GLAN.L)

The SaaS provider, domiciled in Ireland, claims that for its US activities, it uses SVB and that its FDIC-insured maximum exposure would not exceed $250,000 at any time.


ZEALAND PHARMA (ZELA.CO)

The Danish pharmaceutical company holds deposits at SVB totaling 162.6 million Danish crowns ($23.4 million), or around 15% of the group's liquid assets.


PHARMING GROUP NV (PHAR.AS)

The biopharmaceutical business claims to have deposits at SVB US totaling $26 million and anticipates not suffering any losses on these deposits.


KINNEVIK AB (KINVb.ST)

The Swedish investment company estimates that its pro rata share of the SVB deposits is less than $20 million.


RWS HOLDINGS PLC (RWS.L)

A tiny cash position held by SVB in the US, according to the provider of intellectual property services, is anticipated to be completely safeguarded under the Federal Deposit Insurance Corporation Scheme. Furthermore, a percentage of its forward currency contracts are held by SVB UK, it says.


AUCTION TECHNOLOGY GROUP (ATG.L)

The technology company, which is situated in the UK, claims it has a senior facilities agreement with a syndicate of six banks, of which SVB represented one sixth of the facilities' drawn and undrawn amounts, respectively.


PCI-PAL (PCIPP.L)

According to the UK-based SaaS business, as of March 9 it had around 3.2 million pounds of cash split between US and UK accounts with SVB, its primary bank.


YOURGENE HEALTH PLC (YGEN.L)

The molecular diagnostics company claims it has a term loan agreement with SVB UK and is certain that the relevant insurance programs in the US and UK will protect its SVB deposits.


WINDWARD LTD (WNWD.L)

According to the British technology company, overall exposure above the sums covered by the Financial Services Compensation Scheme and the Federal Deposit Insurance Corp. Scheme is less than 0.5% of the company's $22.2 million cash position.


TECHNOPROBE SPA (TPRO.MI)

The Italian semiconductor and microelectronics company claims that 2.5% of its cash and cash equivalent is exposed to SVB. This is valued by a broker at approximately 10 million euros ($10.71 million).


ALECTA

The Swedish pension fund, a shareholder in SVB since 2019, reports that its entire investment in SVB was slightly under 9 billion Swedish crowns (about $111.94 billion).


"For individual pension savers at Alecta, the impact of this investment on future occupational pension payments is very small," the statement continues. According to Refinitiv, Alecta was the fourth-largest shareholder in SVB as of December 31 with a 4.45 percent holding.


ASIA-PACIFIC

NITRO SOFTWARE (NTO.AX)

Nitro Software Ltd. (NTO.AX), an Australian developer of productivity software, reported having $12.18 million in global cash reserves deposited at SVB. The development has no bearing on the acquisition deal, according to Nitro, which private equity firm Potentia Capital is in the process of acquiring.


SEZZLE INC

Sezzle Inc., a buy-now-pay-later company based in Australia, stated that SVB was where it kept around $1.2 million of its total cash and cash equivalents, noting that the monies were not crucial to its current operations or business.


XERO LTD (XRO.AX)

Australian accounting software maker Xero Ltd (XRO.AX) said it did not have a material exposure to SVB, with total exposure at $5 million as at March 10


LIFE360 INC

Australian location-based services provider Life360 Inc said it estimated its exposure to be up to $5.6 million, with no significant disruption to operations


KUWAIT FINANCE HOUSE (KFH.KW)

The bank claims that it has a $1.2 million exposure to SVB but has not experienced any major financial consequences.

By fLEXI tEAM


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