SVB Capital is the venture capital arm of the failed Silicon Valley Bank. The VC has stakes in many of Silicon Valley s top-tier venture firms, including Sequoia Capital, Ribbit Capital, Andreessen, according to a media report
California governor Gavin Newsom (D.) reportedly helped persuade President Joe Biden to bail out Silicon Valley Bank and was one of the first politicians to praise the move. His assistance comes years after the failed bank began lobbying California's government and donating to Newsom's wife.
Democratic California Gov. Gavin Newsom didn't mention his ties to Silicon Valley Bank in his statement Monday praising the Biden administration for bailing it out.
Twitter users highlighted donations made by SVB to a nonprofit run by his wife and suggested Newsom had questions to answer about his connection to the bank.