SVB Financial nears deal to sell VC arm, Scaramucci leading bidder

<p> <br />
</p>
<div>
<div>
<img decoding="async" alt="SVB Financial nears deal to sell VC arm, Scaramucci leading bidder – WSJ" id="carouselImage" src="https://i-invdn-com.investing.com/trkd-images/LYNXMPEJ8E10Z_L.jpg" style="visibility:hidden" /><br />
<span>© Reuters. SVB (Silicon Valley Bank) logo is seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration</span><br />
<i class="imgGrad"/>
</div>
<p>(Reuters) – SVB Financial Group is closing in on an agreement to sell its venture-capital and credit investment business SVB Capital in order to avoid bankruptcy, the Wall Street Journal reported on Friday, citing people familiar with the matter. </p>
<p>A duo of Anthony Scaramucci’s SkyBridge Capital and Atlas (NYSE:) Merchant Capital, as well as San Francisco private-equity firm Vector Capital, are the two front-runners competing in the bidding process for SVB Capital, the report added. </p>
<p>SVB Financial did not immediately respond to a Reuters request for comment. </p>
<p>The bankrupt group in June said it was still looking for strategic alternatives for SVB Capital, days after the company agreed to sell its investment banking division, SVB Securities, to a group led by the segment’s CEO. </p>
<p>SVB Financial had collapsed into bankruptcy after former unit Silicon Valley Bank’s failure in March triggered the worst U.S. banking crisis in 15 years. </p>
</div>
<p><br />
<br /><a href="https://www.investing.com/news/stock-market-news/svb-financial-nears-deal-to-sell-vc-arm-scaramucci-leading-bidder–wsj-3175912">Source link </a></p><p>The post <a href="https://forextraderhub.com/svb-financial-nears-deal-to-sell-vc-arm-scaramucci-leading-bidder.html">SVB Financial nears deal to sell VC arm, Scaramucci leading bidder</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>