SVB Financial Preps $300M Venture Fund

A unit of SVB Financial Group (SIVB) in Santa Clara, Calif., plans to raise $300 million for a venture capital fund.

The plans to raise the money for the Strategic Investors Fund VI were disclosed Friday in a filing with the Securities and Exchange Commission by SVB Capital, which oversees SVB Financial Group's portfolio of managed venture capital and private-equity investments.

The filing was first reported by the Silicon Valley Business Journal. SVP Capital did not immediately respond to requests for comment.

SVB Capital manages more than $1.5 billion in assets. Its parent, SVB Financial, is also the holding company for the $21 billion-asset Silicon Valley Bank.