SVB (Silicon Valley Bank) logo is seen in this illustration taken March 10, 2023.
REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSept 15 (Reuters) - SVB Financial Group (SIVBQ.PK) 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.
A duo of Anthony Scaramucci's SkyBridge Capital and Atlas 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.
SVB Financial did not immediately respond to a Reuters request for comment.
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.
Persons:
Dado Ruvic, Anthony Scaramucci's, Pritam Biswas, Devika
Organizations:
Bank, REUTERS, SVB Financial, Wall Street, Atlas Merchant Capital, Vector, SVB Capital, SVB, SVB Securities, Thomson
Locations:
Francisco, Bengaluru