[Updated March 13th 2023]
Dear friends and tech community,
During these challenging times, the venture community must stay strong and united. In our industry, Silicon Valley Bank (SVB) is our wise, older sister and has been supporting the ecosystem for decades. We were relieved to hear this morning that HSBC had acquired the entire UK operations of SVB, without a need for liquidating its assets. SVB UK’s client deposits are safe. We believe this is excellent news for the UK ecosystem.
No announcement, however, has yet been made in relation to the existing venture loan book, the loans that were currently under negotiation, and SVB’s European footprint.
Some of you — founders, investors and board members of technology companies — may have been in the middle of an SVB financing process with the expectation of receiving a long term venture loan. If you are currently in this situation and need venture debt, we can help.
At Bootstrap, we are fortunate to have just closed our latest fund with backing of solid AAA rated institutions such as the BBI, the EIF and the Visa Foundation.
To continue helping the tech community and supporting companies with time sensitive venture debt needs, such as M&A facilities, we can execute and fund loans at an unprecedented speed. If you are looking or one of your portfolio companies is considering a new venture loan, acquisition finance, acquisition finance or a refinancing, please reach out to: [email protected] by providing us with:
- Presentation deck
- Latest cap table
- Latest financials (P&L and B/S)
- Quarterly business plan including cash flow
- Structure and size of your loan
Bootstrap Europe is well capitalized and is able to provide immediate financing to companies to ensure that they can continue to operate, innovate and grow.
Together, we are stronger.
The Bootstrap Team
