Tekcapital has announced their portfolio company MicroSalt has secured a new distribution deal, and has confirmed they have no direct exposure to failed SVB.
MicroSalt’s SaltMe crisps will now be stocked in H Mart. H Mart is one the United State’s fast growing retailers and has been recognised by the National Retail and Supermarket News.
SaltMe crisps are tackling cardiovascular disease head on by providing a low-sodium alternative to a traditionally high-salt product.
“There are tens of millions of health-conscious Americans, including those suffering from high blood pressure and other cardiovascular diseases who would certainly enjoy the full saltiness of SaltMe! potato chips with approximately half the sodium found in traditional potato chips,” said MicroSalt’s CEO Rick Guiney.
SVB Confirmation
Following the failure of the tech-focused US bank Silicon Valley Bank (SVB), Tekcapital confirmed on Twitter over the weekend they held no accounts or investments with SVB.
Quick note: Tekcapital has no accounts with Sillicon Valley Bank (SVB) and no investments with them.
— Tekcapital Plc (@tekcapital) March 12, 2023
With HSBC stepping in to buy SVB’s UK arm and the US authorities saying they will protect depositors in the US, it now appears the feared contagion has been averted.
