Crypto Biz: Bidding war for SVB Capital, new crypto funds and Citi’s private blockchain

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The venture capital industry is preparing for portfolio rebalancing by 2024. Investors are positioning themselves to increase their exposure to digital assets during the next bull market. Blockchain Capital closed two funds with $580m in capital this week. The money will be used to fund crypto gaming and decentralized financial projects. SkyBridge Capital (NYSE: Atlas Merchant Capital), Vector Capital and Atlas (NYSE-Merchant Capital) are also among the last bidders for SVB Capital. This is the venture capital arm of the now defunct Silicon Valley Bank. SVB Capital reportedly is a major investor in other venture capital firms, such as Sequoia or Andreessen Horowitz.



SVB capital holdings as of December 20,22. Source: SVB Capital

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