BTC PULSE
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
Play Now
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

Scaramucci’s SkyBridge Capital Front Runner in Bid for SVB’s VC Arm

by Dan K
Sep 18, 2023 - 11:30 am
in Blockchain
Anthony Scaramucci leading a discussion on the potential acquisition of SVB Capital.

SkyBridge Capital in the Limelight

In the latest turn of events surrounding the Silicon Valley Bank’s venture capital unit, SVB Capital, Anthony Scaramucci’s SkyBridge Capital has surfaced as one of the frontrunners in the bidding process. Other major players include Atlas Merchant Capital and San Francisco’s Vector Capital.

SVB Capital’s Prestigious Portfolio

SVB Capital is recognized for backing major venture capital firms in Silicon Valley, including Sequoia and Andreessen Horowitz (a16z). As of the end of last year, it managed $9.5 billion in assets dispersed across 20 funds and 760 companies, including the renowned blockchain analytics service Chainalysis.

The Journey to Selling SVB Capital

The venture capital arm finds itself at the sale stage after being shielded from Silicon Valley Bank’s bankruptcy proceedings, allowing it to continue standard business operations. SVB Financial Group, the bank’s preceding parent company, is orchestrating the sale which could potentially seal at a value between $250 and $500 million. However, experts stress that the sale is subject to final review by the creditor’s committee.

Scaramucci’s SkyBridge Capital’s Standing

SkyBridge Capital, under Scaramucci’s leadership, maintains a strong portfolio with assets amounting to roughly $1.8 billion. A significant portion of these assets, around $580 million, is invested in cryptocurrencies and other digital-related assets, showcasing the firm’s robust stance in the digital frontier.

A Look Back at Silicon Valley Bank’s Decline

Silicon Valley Bank faced regulatory actions leading to its closure earlier this year, a significant blow given its role as a rare provider of banking services to crypto firms in the U.S. This fallout was part of a larger crisis, likened to the severe 2008 banking crisis, affecting other crypto-friendly banks such as Signature Bank and Silvergate Bank.

What Lies Ahead

With the court’s verdict expected in the coming weeks, the financial world is keenly watching. The outcome holds significance, not just for the bidding firms but for the landscape of venture capital investments in Silicon Valley.

A detailed understanding of the sale process and the bidders’ strategies could illuminate the path SVB Capital is set to take in this new chapter, amidst a recovering banking sector and a dynamic investment environment.

Tags: BanksCryptocurrencyCryptoInvestment
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Brad Garlinghouse announcing the update on the Fortress Trust acquisition.

Ripple Abandons Planned Fortress Trust Acquisition Deal

September 29, 2023

Ripple, in a sudden twist, cancels the intended acquisition of Fortress Trust, emphasizing continuous support and investment in...

Kraken logo with stock and ETF graphs in the background, symbolizing their new venture into traditional markets.

Kraken Eyes Traditional Stock Market with 2024 Launch of New Trading Platform

September 28, 2023

Kraken exchange announces the 2024 introduction of Kraken Securities, paving the way for combined stock, crypto, and ETF...

Diagram illustrating the architecture and components of the Hedera network.

Hedera Crypto: Unveiling the Features of the Hedera Network

September 28, 2023

Hedera crypto offers a comprehensive suite of features for developers and users. Discover the ultimate power of Hedera's...

Shanghai cityscape with overlaying blockchain icons representing its commitment to technological growth.

Shanghai Unveils Blueprint to Boost Blockchain Progress by 2025

September 27, 2023

Shanghai announces a comprehensive strategy targeting rapid blockchain evolution by 2025, aligning with China's support for domestic blockchain...

Press Releases

David Ferrucci next to the Elemental Cognition brand emblem.

BM Watson’s Lead Developer Secures $60M for New AI Venture, Elemental Cognition

August 18, 2023

David Ferrucci, has raised a remarkable $60M for his AI startup. The company brings forward two pioneering chatbot solutions designed...

pulse5

Amsterdam Gets with the Dutch Blockchain Days the Biggest Event of the Benelux in the Field of Blockchain, Crypto Currencies, NFTs and Other Web3 Developments

May 8, 2023

Discover the future of blockchain, crypto, NFTs, and Web3 at Dutch Blockchain Days, the largest event in Benelux.

pulse4

Korea Blockchain Week 2023 Set to Push the Boundaries after Record-Breaking 2022 Event

May 8, 2023

Korea Blockchain Week 2023 returns after a highly successful 2022 event, featuring leading experts and the latest trends in blockchain...

pulse3

Istanbul Will Be Hosting Eurasia’s Largest Blockchain Event Once again on May 8–11, 2023

May 8, 2023

Join Eurasia's largest blockchain event, the Blockchain Economy Istanbul Summit, May 8-11, 2023, and discover the future of financial technology.

View All
BTC-Pulse LogoTransparent

© 2023 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

©2023 BTC-PULSE – All right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Blockchain
    • Bitcoin
    • Ethereum
    • NFT
    • Regulation
    • WEB 3.0
  • Price Prediction
  • Learn
  • Events
  • Advertise