UK tech founders, investors, and ecosystem leaders have been giving their reactions to the news that SVB UK will be rescued by HSBC.
Andrew J Scott
Founding Partner
7pc VC
“It was vital that depositors in SVB UK, who were overwhelmingly UK tech startups, were protected, not just for the startup ecosystem but the whole of the UK. Many of these companies are developing technologies which represent the future of the UK economy. The future of literally everything in our lives is tech. HSBC buying SVB UK means no public money has been used to ensure these startups, and many of the investors like us who back them, don’t go bust. It’s a great result for UK plc.
