Silicon Valley Bank (First Citizens)
NotableThe default bank of venture capital, now part of First Citizens.
Fund FinanceFirmUnited States
Target market
Venture funds of every size, from Fund I to multi-billion platforms
Geography
United States
Overview
Silicon Valley Bank has been the center of gravity for venture fund banking for four decades — capital-call lines, GP-commitment loans, management-company banking and startup venture debt under one roof. After SVB's March 2023 failure, First Citizens BancShares acquired the franchise, and its Global Fund Banking business remains the most widely used lender to VC funds.
Key facts
- Banked roughly half of US venture-backed tech companies pre-2023
- Acquired by First Citizens BancShares in March 2023
- Global Fund Banking lends against uncalled LP commitments
- Also one of the largest venture-debt lenders to startups