Scaramucci’s SkyBridge Capital vies for acquisition of Silicon Valley Bank’s venture capital division

Scaramucci's SkyBridge Capital vies for acquisition of Silicon Valley Bank's venture capital division


SkyBridge Capital and Atlas Merchant Capital Compete for SVB Capital

SkyBridge Capital, led by Anthony Scaramucci, and Atlas Merchant Capital are both vying for SVB Capital, the venture capital and credit-investment arm of SVB Financial Group. Vector Capital is also in the running to acquire the credit investment firm. A decision on the winning bidder is expected to be made soon.

Potential Deal Could Fetch $250 Million to $500 Million

The potential deal for SVB Capital, currently undergoing bankruptcy proceedings, could have a value ranging from $250 million to $500 million. However, it is important to note that the transaction is not guaranteed and must still undergo review by the creditors’ committee.

The Fall of Silicon Valley Bank

Silicon Valley Bank, a popular lender to tech and growth startups in Silicon Valley, failed on March 10 and came under the control of the Federal Deposit Insurance Corporation (FDIC). Subsequently, SVB Financial Group filed for Chapter 11 protection, allowing the sale of its assets. First Citizens Bancshares acquired many of Silicon Valley Bank’s loans and deposits.

READ NOW
Discover the next meme coin takeover! 🚀🌕

About SkyBridge Capital

SkyBridge Capital manages a portfolio exceeding $1.8 billion, with significant investments in digital assets totaling approximately $580 million. Anthony Scaramucci leads the firm. Scaramucci gained notoriety in 2017 when he was removed as communications director for then-President Donald Trump after just 10 days.

Other Competitors: Vector Capital and Atlas Merchant Capital

Vector Capital specializes in middle-market technology and technology-enabled businesses. On the other hand, Atlas Merchant Capital operates in New York and London, offering investment strategies in public and private markets.

Hot Take: Banking Crises and FDIC Challenges

Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

The collapse of Silicon Valley Bank follows the recent collapse of crypto-friendly bank Silvergate. Silvergate, heavily impacted by the fall of FTX, had to sell debt securities at a loss to cover user withdrawals. The FDIC is currently grappling with $13 billion worth of hard-to-sell mortgage bonds from Silicon Valley Bank and Signature Bank, which were taken over by the FDIC.

READ NOW
Expert: Bitcoin Miner Disproves Bitcoin Halving Myth! 🚀🔥
Scaramucci's SkyBridge Capital vies for acquisition of Silicon Valley Bank's venture capital division
Author – Contributor at Lolacoin.org | Website

Wyatt Newson emerges as a luminary seamlessly interweaving the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the dynamic canvas of digital currencies, Wyatt’s insights resonate like vibrant brushstrokes, capturing the attention of curious minds across diverse landscapes. His ability to untangle intricate threads of crypto intricacies harmonizes effortlessly with his editorial mastery, transmuting complexity into a compelling narrative of comprehension. Guiding both seasoned navigators and curious newcomers, Wyatt’s insights serve as a compass for astute decision-making amidst the ever-shifting currents of cryptocurrencies. With the artistry of a linguistic craftsman, they skillfully craft narratives that enrich the evolving tableau of the crypto landscape.

READ NOW
Citadel-backed crypto firm aims for $1B valuation🚀
Subscribe to our Social Media for Exclusive Crypto News and Insights 24/7!

Latest Crypto News