13 Mar 2023 09:03
13 March 2023
Triple Point VCT 2011 plc
(the "Company")
Company Update
Following developments with Silicon Valley Bank ("SVB") over the weekend, the Investment Manager assessed the Company's portfolio company exposure to SVB, in both the US and UK.
While a number of portfolio companies have bank accounts with SVB, we did not expect portfolio company exposure to SVB to have a significant impact on the Venture share class net asset value ("NAV").
Now, as a result of announcements by the UK Treasury this morning (regarding the sale of SVB UK to HSBC) and the US Federal Reserve yesterday evening (regarding an additional release of funding to ensure depositors are made whole), we do not expect portfolio company exposure to SVB to have any impact on the Venture share class NAV.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Triple Point Investment Management LLP (Investment Manager) | Tel: 020 7201 8989 |
Ian McLennan Belinda Thomas |
The Company's LEI is 213800AOOAQA5XQDEA89
Further information on the Company can be found on its website https://www.triplepoint.co.uk/current-vcts/triple-point-vct-2011-plc/s2539/
NOTES:
The Company is a Venture Capital Trust incorporated in July 2010 and was established to fund small and medium sized enterprises. The Investment Manager is Triple Point Investment Management LLP.