Silicon Valley Bank looks to be back in the fundraising market with a new $1bn fund, which has already secured over $600m.
The fund, Strategic Investors Fund X, has secured $690m in funding so far, according to several US Securities and Exchange Commission filings.
A master filing states it has pulled in contributions from 113 investors.
There are no placement agents listed for the vehicle.
Silicon Valley Bank has listed six separate filings for the vehicle including Strategic Investors Fund X Ontario, Strategic Investors Fund X Cayman and Strategic Investors Fund X-B.
It is unclear what the investment strategy of the fund will be; however, the firm has stated it will be a venture capital fund.
SVB Capital, the fund of funds and direct funds investment division of Silicon Valley Bank, closed $392m for a new vehicle named Sprout Endurance Partners back in 2018.
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