SVB Capital

SVB Capital, historically the investment platform of SVB Financial Group, has maintained its operations and strategic focus following its acquisition in August 2023 by a consortium led by General Atlantic. Based in Palo Alto, California, SVB Capital continues its long-standing mission of investing in the innovation economy. Its core strategy revolves around acting as a significant limited partner to venture capital funds globally, effectively operating as a fund-of-funds manager. This approach allows SVB Capital to gain diversified exposure across various stages of the venture lifecycle, from seed to growth equity, and across diverse technology and life science sectors.

Beyond its robust fund-of-funds activities, SVB Capital also engages in direct investments. These direct investments are primarily co-investments made alongside the venture capital funds in which SVB Capital is a limited partner, or direct growth equity investments into promising technology and life science companies. This dual strategy enables SVB Capital to not only support the broader venture ecosystem by funding other VCs but also to directly participate in the growth of innovative companies. The firm’s investment scope is broad, covering areas such as enterprise software, fintech, healthcare IT, and biotechnology, among others.

As of the acquisition in August 2023, SVB Capital managed approximately $9.5 billion in limited partner capital commitments across its various funds. This substantial capital base underpins its ability to make significant commitments to top-tier venture funds and to execute its direct investment strategy. For its direct equity investments, SVB Capital typically writes first checks ranging from $5 million to $25 million, targeting companies that demonstrate strong growth potential and are often at the later-stage venture or growth equity phase. This strategic flexibility positions SVB Capital as a key player in providing capital solutions across the venture landscape, supporting both fund managers and high-growth companies.