Private Equity

Sale of Silicon Valley Bank’s old venture capital arm hits a snag

Creditors including Pimco and Davidson Kempner may wind up taking over SVB’s roughly $10bn venture capital business, sources say

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Silicon Valley Bank’s parent company filed for bankruptcy in March after federal regulators took over the bank Photo: John Brecher/Getty Images

A process to sell the venture capital arm of bankrupt SVB Financial, the former parent of Silicon Valley Bank, has fallen flat and creditors are now gearing up for a potential takeover of the business.

Two front-runners had been vying for SVB Capital: a duo of Anthony Scaramucci’s SkyBridge Capital and Atlas Merchant Capital, and San Francisco private equity firm Vector Capital, The Wall Street Journal reported in September.

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