SVB Capital: SVB Financial Group will retain ownership of the business

SVB Capital Management, a wholly-owned indirect subsidiary of SVB Financial Group, announced that, following a review of strategic alternatives, SVB Financial Group and its creditors have determined that retaining the SVB Capital business would result in superior value creation opportunities. In connection with mapping its go-forward strategy, SVB Capital has created a new operating committee that will oversee all aspects of the business’ strategic and operational initiatives. The operating committee is made up of Aaron Gershenberg, Sulu Mamdani and Beau Laskey, three longtime SVB Capital executives and experienced venture capital leaders. Gershenberg, a co-founder of SVB Capital who has served as a Senior Advisor since January 2023, is returning as a Managing Partner. The operating committee will be focused on maximizing the value of SVB Capital’s portfolio and assets and continuing to serve its limited partners. The committee will work closely with William Kosturos, Chief Restructuring Officer of SVB Financial Group, to ensure a smooth transition.