Silicon Valley Bank's venture capital division, SVB Capital, has nearly $9.5B in assets under management (AUM), including stakes in notable VC firms such as Andreessen Horowitz, Sequoia Capital, and Ribbit Capital.
The parent organization is now exploring "strategic alternatives" for
the venture division, which would most likely result in a sale.
- Documents
show that SVB Capital invested $234M in Sequoia Capital's two funds,
$173M in Andreessen Horowitz's two vehicles, and $145M in Ribbit
Capital's funds.
- In
addition, it has invested $116M in Lightspeed Venture Partners, $90M in
Accel, $81M in Index Ventures, and $75M in Spark Capital.
- To date, SVB Capital raised nearly $7B total capital towards its fund-of-funds and $1BM for its venture debt fund.
- Filings
from December 2022 show that the firm raised $1.9B for its 11th fund
and was raising an additional $500M to invest in Sequoia's funds.
- In
addition to investing in other funds, the firm has taken direct stakes
in startups, including an undisclosed stake in Chainalysis and a nearly 2% stake in Chipper Cash.
- If
SVB does proceed with the sale of its venture division's sale, the
value of the transaction will be decided based on its fund's performance
and assets.
- Meanwhile, sources informed The Information that the U.S. government would likely sell the parent Silicon Valley Bank to other banks only, thwarting the Apollo Management-led PE and VC group's plans to make a potential bid for the bank.
