SVB (Silicon Valley Bank) logo is seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSept 15 (Reuters) - SVB Financial Group (SIVBQ.PK) is closing in on an agreement to sell its venture-capital and credit investment business SVB Capital in order to avoid bankruptcy, the Wall Street Journal reported on Friday, citing people familiar with the matter. A duo of Anthony Scaramucci's SkyBridge Capital and Atlas Merchant Capital, as well as San Francisco private-equity firm Vector Capital, are the two front-runners competing in the bidding process for SVB Capital, the report added. SVB Financial did not immediately respond to a Reuters request for comment. SVB Financial had collapsed into bankruptcy after former unit Silicon Valley Bank's failure in March triggered the worst U.S. banking crisis in 15 years.

Source: Wall Street Journal September 16, 2023 09:37 UTC