Venture capital firms and private equity groups are reportedly working on plans to acquire and preserve parts of Silicon Valley Bank to continue serving clients in the technology sector.

The Financial Times reported today that a group of more than a dozen VC firms, including General Catalyst Group LLC, Andreessen Horowitz LLC and Khosla Ventures LLC, have been holding talks on enabling SVB to continue lending to, investing in and advising companies in the sector. One of the proposals is said to include the formation of a consortium with Apollo Global Management Inc. to bid for portions of SVB. READ MORE