Hedge funds are reportedly offering to buy startup deposits at Silicon Valley Bank for 60 to 80 cents on the dollar, after the lender was taken over by the U.S. Federal Deposit Insurance Corporation on Friday.
Hedge funds are offering to buy startup deposits at Silicon Valley Bank for as little as 60 cents on the dollar, Semafor reported on Saturday, citing people familiar with the matter.
Firms like Oaktree which are known for investing in distressed debt are contacting startup businesses after SVB’s SIVB, -60.41% seizure by the Federal Deposit Insurance Corp , the report said.
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