Brookfield and Sequoia Heritage-backed Pinegrove Capital Partners to acquire SVB Capital from SVB Financial Group.

Private equity firms Brookfield and Sequoia Heritage-backed Pinegrove Capital Partners, agreed to acquire SVB Capital, a venture capital firm, from SVB Financial Group, a financial services group. Financial terms were not disclosed. "Over the last quarter-century, our firm has thrived on the deep trust we've cultivated with the most sought-after general partnerships in venture capital. In addition, we have consistently aligned our interests with those of our limited partners. Those foundational principles will guide us into the future. Leveraging SVB Capital's extensive history and track record, our partnership with Pinegrove will expand our multi-strategy platform to directly meet the unique needs of the venture capital and limited partner communities," Aaron Gershenberg, SVB Capital Founding Partner.