SVB Capital, the venture capital arm of Silicon Valley Bank, is being acquired by an affiliate of Pinegrove Capital Partners.

The acquisition is backed by significant entities, including Brookfield Asset Management and Sequoia Heritage.

The deal involves a mix of cash and other economic considerations for the $10 billion investment management unit.

SVB Capital's estimated valuation stands at up to $572 million, highlighting its worth post-Silicon Valley Bank's collapse.

Completion of the sale hinges on bankruptcy court and regulatory approvals, with an anticipated finalization date in June 2024.

This transaction is a part of the ongoing restructuring of SVB Financial Group, which began after the bank's failure in March 2023.