– Anthony Scaramucci’s SkyBridge Capital and Atlas Merchant Capital are competing for SVB Capital, the venture capital and credit-investment arm of SVB Financial Group.
– Vector Capital is also bidding on SVB Capital.
– The potential deal could fetch between $250 million to $500 million.
– The transaction is not guaranteed and would still need to undergo review by the creditors’ committee.
– Silicon Valley Bank failed and fell into the hands of the FDIC.
– First Citizens Bancshares acquired many of the loans and deposits of Silicon Valley Bank.
– SVB Securities received approval to sell itself to founder Jeff Leerink and a group of eight senior managers.
– SkyBridge Capital manages a portfolio of over $1.8 billion, including significant investments in digital assets.
– Silvergate, a crypto-friendly bank, also collapsed.
– The FDIC is grappling with nearly $13 billion worth of hard-to-sell mortgage bonds following the collapse of Silicon Valley Bank and Signature Bank.
Investment firms SkyBridge Capital and Atlas Merchant Capital are vying to acquire SVB Capital, the venture capital and credit-investment arm of SVB Financial Group, which was the parent company of Silicon Valley Bank. Private-equity firm Vector Capital is also in competition for the credit investment firm. The sale of SVB Capital is still pending court approval and could be worth between $250 million to $500 million. Silicon Valley Bank, a popular lender to tech startups, failed in March and was seized by regulators. First Citizens Bancshares acquired many of its loans and deposits. SkyBridge Capital manages over $1.8 billion, including significant investments in digital assets. Vector Capital focuses on middle-market technology businesses while Atlas Merchant Capital offers investment strategies in public and private markets. The collapse of Silicon Valley Bank came shortly after the collapse of crypto-friendly bank Silvergate. The FDIC is facing challenges in selling almost $13 billion worth of mortgage bonds following the collapses of Silicon Valley Bank and Signature Bank. These bonds were backing affordable apartment building projects.
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