The subsidiary of Hercules Capital has formed a new private credit lending program following the failure of Silicon Valley Bank, which was a lender and banker to about half of the venture-backed tech and life sciences start-ups in the US.
SR One Capital Management, a transatlantic biotech VC firm that spun out of GlaxoSmithKline, has closed on more than $600 million for its second fund, beating its $500 million target.
First Citizens will assume SVB's assets of $110 billion, deposits of $56 billion and loans of $72 billion.
One of the challenges that has emerged as potential buyers explore an acquisition of SVB Financial’s fund of funds platform is continuing access to the top names in venture capital, say sources familiar with the process.
Stifel Financial Corp has hired former Silicon Valley Bank executives Jake Moseley, Matt Trotter and Ted Wilson as managing directors for its venture banking group.
Three pensions that collectively manage assets of more than $600bn and actively invest in venture and buyout funds are calling on US state and federal policymakers to protect 'the freedom to invest responsibly' as the anti-ESG movement gains momentum.
SWEN’s Blue Ocean Fund is one of at least four funds that have collectively raised more than $400m to preserve ocean health.
The Los Angeles-based firm sees opportunity where institutional capital is 'scared' to go.
Immediately after the FDIC’s takeover of Silicon Valley Bank, the Chicago-based VC firm created a vehicle to help fund payroll and dug into start-ups’ arrangements with payroll providers.
The failure of Silicon Valley Bank presents an enormous opportunity for venture debt providers.