When you upload an .svg image file to Documents & Media, you will not be able to add it into a Web Content while writing or editing a web content. However, you will be able to successfully upload an .svg at the web content image selection screen and it will appear as expected.
Resolution
There are several issues here.
1. There is no thumbnail or preview image generated for SVG files. This is unfortunately a limitation as the SVG file type is not supported by the third party library that the Liferay platform is utilizing: see GitHub Image Metadata Reader.
2. The SVG files are not showing up in the file explorer for Web Content images. This can be resolved by adding image/svg+xml to the following portal property:
dl.file.entry.preview.image.mime.types=image/bmp,image/gif,image/jpeg,image/pjpeg,image/png,image/tiff,image/x-citrix-jpeg,image/x-citrix-png,image/x-ms-bmp,image/x-png,image/x-tiff
Adding the property will at least allow you to select and include .svg images while writing Web Content.
3. Uploading SVG files while trying to create Web Content Structures will fail and you'll receive an error that begins with:
2018-04-18 08:10:28.943 ERROR [http-apr-8080-exec-4][PortletServlet:112] javax.portlet.PortletException: com.liferay.portal.kernel.exception.SystemException: java.io.IOException: Unsupported image type javax.portlet.PortletException: com.liferay.portal.kernel.exception.SystemException: java.io.IOException: Unsupported image type at com.liferay.portal.kernel.portlet.LiferayPortlet.callActionMethod(LiferayPortlet.java:204) at com.liferay.portal.kernel.portlet.bridges.mvc.MVCPortlet.callActionMethod(MVCPortlet.java:418) at com.liferay.portal.kernel.portlet.LiferayPortlet.processAction(LiferayPortlet.java:94) at com.liferay.portal.kernel.portlet.bridges.mvc.MVCPortlet.processAction(MVCPortlet.java:260) at com.liferay.portlet.FilterChainImpl.doFilter(FilterChainImpl.java:71) at com.liferay.portal.kernel.portlet.PortletFilterUtil.doFilter(PortletFilterUtil.java:48) at com.liferay.portal.kernel.servlet.PortletServlet.service(PortletServlet.java:108) at javax.servlet.http.HttpServlet.service(HttpServlet.java:729)
This error will occur even if you've added SVG files as a valid document file extension. This has been reported in LPS-67171. A workaround is to upload the SVG files to Documents & Media first, then select it as an image in your Web Content Structure.