Scaramucci leads bidding for Silicon Valley Bank’s VC division
SkyBridge Capital, led by Anthony Scaramucci, is among the frontrunners bidding for Silicon Valley Bank’s VC arm, with a sale foreseen in the coming weeks. SVB Financial Group, once the umbrella organization for Silicon Valley Bank, is reportedly nearing the final stages of negotiations to sell its venture capital subsidiary, SVB Capital. According to The Wall Street Journal, informed sources have indicated that Anthony Scaramucci’s SkyBridge Capital and Atlas Merchant Capital are in tight competition with San Francisco-based Vector Capital in the concluding rounds of the bidding war. Insiders have suggested that SVB’s venture capital segment could fetch a price between $250 million and $500 million. Nonetheless, they emphasized that a definitive sale is not specific and remains subject to the approval of the creditor’s committee. A verdict regarding the sale is anticipated to be announced in the forthcoming weeks. You might also like: First Citize...