Crypto Biz: Bidding conflict for SVB Capital, new crypto funds and Citi’s non-public blockchain

The enterprise capital trade seems to be gearing up for portfolio rebalancing in 2024, with buyers positioning themselves to extend publicity to digital belongings within the subsequent bull market. Blockchain Capital, for example, closed two new funds this week, with $580 million in capital to be deployed in crypto gaming and decentralized finance initiatives.

Likewise, SkyBridge Capital, Atlas (NYSE:) Service provider Capital and Vector Capital are among the many ultimate bidders to accumulate SVB Capital, the enterprise arm of the collapsed Silicon Valley Financial institution. SVB Capital is reportedly a backer of different main enterprise capital companies within the crypto house, together with Sequoia and Andreessen Horowitz.

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