News
Latest News
news bulletin
Breaking Headlines
Lebanon News
Press Highlights
World
Lebanon Economy
News Bulletin Reports
Variety
Middle East
Sports
Other News
Breaking Headlines
Lebanon News
Press Highlights
World
Lebanon Economy
News Bulletin Reports
Variety
Middle East
Sports
Beirut
15
o
Mount Lebanon
16
o
Metn
17
o
Keserwan
17
o
North
16
o
South
13
o
Bekaa
10
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Aswad
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
15
o
Mount Lebanon
16
o
Metn
17
o
Keserwan
17
o
North
16
o
South
13
o
Bekaa
10
o
News
Programs
The News
Breaking Headlines
Lebanon News
Press Highlights
World
Lebanon Economy
News Bulletin Reports
Variety
Middle East
Sports
Programs
Series
Talk Show
News Bulletin
Oldies
Variety
Comedy
Other
Sports
Documentaries
The Untold History
New Year Shows
Lebanon’s Centennial
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
SVB Financial is looking for a buyer for SVB Securities and its SVB Capital VC division
Variety
2023-03-13 | 11:33
High views
Share
Share
3
min
SVB Financial is looking for a buyer for SVB Securities and its SVB Capital VC division
Frenetic buyer interest in SVB Bank may have cooled a little this morning after the US government announced a backstop, with existing deposits covered while SVB Bank remains under the control of the FDIC. But in the meantime, there are further SVB-connected assets with their future up in the air.
SVB Financial, the holding company parent of the failed SVB Bank, said today that it was formally seeking strategic alternatives for SVB Capital and SVB Securities, two subsidiaries not directly connected to the collapsed bank.
SVB Financial says that a restructuring committee with five independent directors will looking at next steps for other assets alongside SVB Capital and SVB Securities.
The news comes hours after another subsidiary, SVB UK, was sold to HSBC for the nominal fee of £1 overnight to keep the bank from going into a government-mandated insolvency proceedings this morning. HSBC — perhaps clearly aware that customers will be trying to flee the bank, or simply wanting to reassure customers about the state of their funds there, has already made a statement to the market saying that it’s all business as usual.
Even before today’s announcement, it was clear that a lot of the confusion swirling around the sudden collapse of the banking division of SVB was having an impact on the Securities and Capital operations. Both pushed out messaging on Friday to let the public know that they were not impacted by the news. As with the UK operation, there were no outstanding questions over the financial status of either of these subsidiaries prior to the run on the SVB Bank, the parent company said today.
The Securities division focuses on healthcare and technology companies and provides services like M&A advisory, raising money from the capital markets, businesses handle M&A activity, arranging leveraged finance and equity research. It only became a part of SVB Financial in 2019, when the holding company acquired boutique investment bank Leerink Partners and rebranded the group. It expanded it in 2022 with the acquisition of MoffettNathanson.
Throughout that time, SVB Financial said, it has operated “largely autonomously as a standalone subsidiary” with a “solid financial position, with a healthy balance sheet, significant excess net regulatory capital, and no outstanding debt.”
The Capital division had been SVB Financial’s VC and private credit arm, investing in a pretty wide array of the kinds of businesses that also tended to bank with SVB. The companies SVB backed included the likes of Chipper out of Africa — where it led a $100 million equity round in 2021 that for a time catapulted the startup into being the most valuable venture-backed operation on the continent. SVB was also involved in a wider effort working on investing in developing markets, and also was a partner, along with the IFC, in a fund backing startups in those markets. It’s not clear if those operations came out of the Capital business, or another division.
“The platform will continue to operate and deliver high-quality services to clients through its existing management team, which has a proven track record of success. SVB Capital funds are separate legal entities, distinct from Silicon Valley Bank,” SVB Financial said in a statement. “Its investor commitments and portfolio investments are owned by the SVB Capital funds and are not subject to the resolution process underway for Silicon Valley Bank. SVB Capital maintains underwriting and investment committee processes that are separate from Silicon Valley Bank.”
It is unclear how much investment the Capital division had under management.
There was no timing attached to today’s announcement, but if the UK sale is an indication, the holding company may be looking for a resolution ASAP.
TechCrunch
Variety
SVB
Silicon Valley Bank
Crash
Financial
Looking
Buyer
Securities
Capital
Venture
Division
Next
Lebanese designers bewilder the Oscars
Lebanese equestrian Jad Dana ranks first in prestigious Wellington Class 515-CSI5, boosting Olympic qualification chances
Previous
Related Articles
d-none hideMe
0
Variety
2023-03-20
SVB Financial Group files 'First Day Motions' in bankruptcy court
Variety
2023-03-20
SVB Financial Group files 'First Day Motions' in bankruptcy court
0
Variety
2023-03-17
SVB Financial files for Ch. 11 bankruptcy protection, says it has $2.2B in liquidity
Variety
2023-03-17
SVB Financial files for Ch. 11 bankruptcy protection, says it has $2.2B in liquidity
0
Variety
2023-03-13
First Republic Bank shares plunge, prompting trading halt as startups process SVB crash
Variety
2023-03-13
First Republic Bank shares plunge, prompting trading halt as startups process SVB crash
0
Variety
2023-03-10
Silicon Valley Bank Financial in talks to sell itself
Variety
2023-03-10
Silicon Valley Bank Financial in talks to sell itself
Recommended For You
d-none hideMe
0
Variety
10:39
Ubisoft’s new AI tool automatically generates dialogue for non-playable game characters
Variety
10:39
Ubisoft’s new AI tool automatically generates dialogue for non-playable game characters
0
Variety
10:31
GitHub’s Copilot goes beyond code completion, adds a chat mode and more
Variety
10:31
GitHub’s Copilot goes beyond code completion, adds a chat mode and more
0
Variety
10:16
CodiumAI is using generative AI to help developers build code logic tests automatically
Variety
10:16
CodiumAI is using generative AI to help developers build code logic tests automatically
0
Variety
10:11
Apple TV+ drops its free offering for ‘Friday Night Baseball,’ expands games to 45+ countries
Variety
10:11
Apple TV+ drops its free offering for ‘Friday Night Baseball,’ expands games to 45+ countries
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
News Bulletin Reports
13:17
MPs demand answers on currency exchange rate crisis, fund transfers
News Bulletin Reports
13:17
MPs demand answers on currency exchange rate crisis, fund transfers
0
News Bulletin Reports
11:28
Lebanon reaffirms commitment to border demarcation with Cyprus
News Bulletin Reports
11:28
Lebanon reaffirms commitment to border demarcation with Cyprus
0
Lebanon Economy
12:22
Lebanon's fuel sector in turmoil as exchange rate fluctuations persist
Lebanon Economy
12:22
Lebanon's fuel sector in turmoil as exchange rate fluctuations persist
0
Lebanon Economy
2022-12-23
Lebanon registers high volume of imports in 2022
Lebanon Economy
2022-12-23
Lebanon registers high volume of imports in 2022
Videos
d-none hideMe
0
Variety
2023-03-16
BAM Leb mobile app launched to revolutionize Lebanon's tourism, culture experience
Variety
2023-03-16
BAM Leb mobile app launched to revolutionize Lebanon's tourism, culture experience
0
News Bulletin Reports
2023-02-02
US must think long before granting Lebanon Caesar Act waiver: Congressman
News Bulletin Reports
2023-02-02
US must think long before granting Lebanon Caesar Act waiver: Congressman
0
Lebanon News
2023-01-25
Beirut blast investigations: The latest
Lebanon News
2023-01-25
Beirut blast investigations: The latest
0
Lebanon News
2023-01-23
Here is what preliminary investigations reveal after grenade attack on LBCI
Lebanon News
2023-01-23
Here is what preliminary investigations reveal after grenade attack on LBCI
0
Lebanon News
2023-01-19
Khalaf, Saliba start open-ended stay inside parliament until president is elected
Lebanon News
2023-01-19
Khalaf, Saliba start open-ended stay inside parliament until president is elected
0
News Bulletin Reports
2022-12-23
Lebanon lacks leaders with geopolitical vision: Naufal Daou
News Bulletin Reports
2022-12-23
Lebanon lacks leaders with geopolitical vision: Naufal Daou
0
News Bulletin Reports
2022-12-07
FPM likely to ditch white ballots following disagreement with Hezbollah
News Bulletin Reports
2022-12-07
FPM likely to ditch white ballots following disagreement with Hezbollah
0
Lebanon News
2022-12-07
Bassil sparks debate on long-awaited decentralization reform
Lebanon News
2022-12-07
Bassil sparks debate on long-awaited decentralization reform
0
Lebanon Economy
2022-12-07
Israel has recruited hundreds of spies, making use of Lebanon's collapse
Lebanon Economy
2022-12-07
Israel has recruited hundreds of spies, making use of Lebanon's collapse
Most read
d-none hideMe
24 hours
7 days
Month
1
Lebanon News
06:47
Within 30 years, Lebanon will face deep climate change effects, here are the details
Lebanon News
06:47
Within 30 years, Lebanon will face deep climate change effects, here are the details
2
Lebanon News
06:18
Retired military personnel protest near Grand Serail, clash with security forces
Lebanon News
06:18
Retired military personnel protest near Grand Serail, clash with security forces
3
Press Highlights
04:35
Presidential election deadlock in Lebanon: The quest for a consensual option
Press Highlights
04:35
Presidential election deadlock in Lebanon: The quest for a consensual option
4
Middle East
04:17
Israeli strike hits near Aleppo airport: Syrian officials
Middle East
04:17
Israeli strike hits near Aleppo airport: Syrian officials
5
News Bulletin Reports
10:18
A new dawn: Middle East overcomes political and military tensions
News Bulletin Reports
10:18
A new dawn: Middle East overcomes political and military tensions
6
News Bulletin Reports
10:26
Europe's political landscape shifts as populist right gains ground
News Bulletin Reports
10:26
Europe's political landscape shifts as populist right gains ground
7
Press Highlights
02:45
Telecom Minister Corm's ministry mulls tariff increase
Press Highlights
02:45
Telecom Minister Corm's ministry mulls tariff increase
8
Lebanon News
12:53
Hamieh refutes allegations about the new airport terminal
Lebanon News
12:53
Hamieh refutes allegations about the new airport terminal
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store