SVB Financial, despite bankruptcy, continues to explore options for its VC arm.

(Reuters) – Bankrupt SVB Financial Group is actively exploring strategic alternatives for SVB Capital, its venture capital and credit investment arm, along with other assets and investments.

This exciting development comes just days after the company announced the sale of its investment banking division, SVB Securities, to a group led by the segment’s CEO.

SVB Financial faced bankruptcy following the failure of its former unit, Silicon Valley Bank, in March, which triggered the worst U.S. banking crisis in 15 years.

To salvage the situation, U.S. regulators intervened and facilitated a deal for regional lender First Citizens BancShares to acquire the failed Silicon Valley Bank.

While the banking crisis caused significant concerns, recent weeks have seen some stabilization in deposits, leading to an 8.3% increase in the KBW Regional Banking Index this month. However, the index remains more than 20% lower than its level in early March when the crisis began.

A hearing to approve the sale of SVB Securities is scheduled for June 29 in the United States Bankruptcy Court for the Southern District of New York. The deal is expected to close shortly thereafter, as confirmed by SVB Financial.

(Reporting by Niket Nishant in Bengaluru; Editing by Devika Syamnath)

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