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EXHIBIT 21.1

SVB Financial Group Annual Report on Form 10-K

Exhibit 21.1-Subsidiaries of SVB Financial Group

The following is a list of the direct and indirect subsidiaries of SVB Financial Group as of December 31, 2022:

Subsidiary						Jurisdiction of Incorporation or Organization
Silicon Valley Bank						California
SVB Asset Management						California
SPD Silicon Valley Bank Co., Ltd.						China
SVB Investment Services Inc.						Delaware
The Silicon Valley Bank Foundation						California
Silicon Valley Bank UK Limited						United Kingdom
SVB Financial Group UK Limited						United Kingdom
SVB Global Financial, Inc.						Delaware
SVB Israel Advisors, Ltd.						Israel
SVB India Advisors, Pvt. Ltd.						India
SVB Global Services India LLP						India
SVB Business Partners (Beijing) Co. Ltd.						China
SVB Investments Holdings, Inc.						Delaware
Silicon Valley BancVentures, Inc.						California
SVB Capital Partners II, LLC						Delaware
CP II, L.P.						Delaware
SVB Capital Partners III, LLC						Delaware
Capital Partners III, L.P.						Delaware
SVB Capital Partners IV, LLC						Delaware
Capital Partners IV, L.P.						Delaware
SVB Capital Partners V, LLC						Delaware
SVB Capital Partners VI, LLC						Delaware
Cap. Partners V, L.P.						Delaware
Latin America Growth Lending, LLC						Delaware
Latin America Growth Lending, L.P.						Canada
SVB Venture Capital Investment Management (Shanghai) Co. Limited						China
Shanghai Yangpu Venture Capital Fund (LP)						China
Shengwei Shengxiang Capital Hangzhou Venture Capital Fund (LP)						China
Shanghai Sheng Wei Dong Fang Jia Rui Equity Investment Fund Partnership						China
Qualified Investors Fund, LLC						California
Qualified Investors Fund II, LLC						Delaware
Qualified Investors Fund III, LLC						Delaware
Qualified Investors Fund IV, LLC						Delaware
Qualified Investors Fund V, LLC						Delaware
Qualified Investors Fund VI, LLC						Delaware
Qualified Investors Fund VII, LLC						Delaware
SVB Growth Investors, LLC						Delaware
Capital Preferred Return Fund, L.P.						Delaware
Growth Partners, L.P.						Delaware
SVB Strategic Investors, LLC						California
Strategic Investors Fund, L.P.						California
SVB Strategic Investors II, LLC						Delaware
Strategic Investors Fund II, L.P.						Delaware
SVB Strategic Investors III, LLC						Delaware
Strategic Investors Fund III, L.P.						Delaware
SVB Strategic Investors IV, LLC						Delaware
Strategic Investors Fund IV, L.P.						Delaware
Venture Investment Managers, L.P.						Delaware
SVB Strategic Investors V, LLC						Delaware
Strategic Investors Fund V, L.P.						Delaware
Strategic Investors Fund V-A, L.P						Delaware
Strategic Investors Fund V-A Opportunity, L.P						Delaware
Strategic Investors Fund V-B, L.P.						Delaware
SVB Strategic Investors VI, LLC						Delaware
Strategic Investors Fund VI, L.P.						Delaware
Strategic Investors Fund VI-A, L.P.						Delaware
SVB Strategic Investors VII, LLC						Delaware
Strategic Investors Fund VII, L.P.						Delaware
Strategic Investors Fund VII-A, L.P.						Delaware
SVB Strategic Investors VIII, LLC						Delaware
Strategic Investors Fund VIII, L.P.						Delaware
Strategic Investors Fund VIII-A, L.P.						Delaware

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Strategic Investors Fund VIII-B, L.P.						Delaware
Strategic Investors Fund VIII Cayman, L.P.						Cayman Islands
Strategic Investors Fund IX Cayman, L.P.						Cayman Islands
Strategic Investors Fund IX-A Cayman, L.P.						Cayman Islands
Strategic Investors Fund IX, L.P.						Delaware
Strategic Investors Fund IX-A, L.P.						Delaware
Strategic Investors Fund IX-B, L.P.						Delaware
Strategic Investors Fund IX Master, L.P.						Delaware
Sprout Endurance Partners, LLC						Delaware
Sprout Endurance Partners, L.P.						Delaware
Sprout Endurance Partners Cayman, L.P.						Cayman Islands
SVB Capital Venture Overage, LLC						Delaware
Venture Overage Fund, L.P.						Delaware
SVB Strategic Investors X, LLC						Delaware
Strategic Investors Fund X Cayman, L.P.						Cayman Islands
Strategic Investors Fund X, L.P.						Delaware
Strategic Investors Fund X Master, L.P.						Delaware
Strategic Investors Fund X Ontario, L.P.						Canada
Strategic Investors Fund X-A Cayman, L.P.						Cayman Islands
Strategic Investors Fund X-A, L.P.						Delaware
Strategic Investors Fund X-B, L.P.						Delaware
SVB Innovation Credit Partners VIII, LLC						Delaware
SVB Innovation Credit Fund VIII, L.P.						Delaware
SVB Capital Master Servicer, LLC						Delaware
WRG Debt Holdings, LLC						Delaware
WRG Debt Funding I, LLC						Delaware
WRG Debt Funding III, LLC						Delaware
WRG Debt Funding V, LLC						Delaware
SVB Innovation Credit Growth Partners IX, LLC						Delaware
Innovation Credit Growth Fund IX, L.P.						Delaware
SVB Innovation Credit Income Partners II, LLC						Delaware
Innovation Credit Income Fund II, L.P.						Delaware
SVB Innovation Credit Partners SMA I, LLC						Delaware
Innovation Credit SMA I, L.P.						Delaware
Innovation Debt Funding VI, LLC						Delaware
SVB Redwood Evergreen, LLC						Delaware
Redwood Evergreen Fund, L.P.						Delaware
SVB Strategic Investors XI, LLC						Delaware
Strategic Investors Fund XI, L.P.						Delaware
Strategic Investors Fund XI Master, L.P.						Delaware
Strategic Investors Fund XI Cayman, L.P.						Cayman
SVB Innovation Credit Partners VIII-A, LLC						Delaware
Innovation Credit Fund VIII-A Splitter, L.P.						Delaware
Innovation Credit Fund VIII-A, L.P.						Delaware
SIF-Ascension I, L.P.						Delaware
SIF-Ascension I Cayman, L.P.						Cayman
SVB SIF-Ascension GP I, LLC						Delaware
Arizona Innovation Credit Fund, L.P.						Delaware
Cap. Partners VI, L.P.						Delaware
CP Climate Impact Fund Cayman, LLC						Cayman Islands
CP Climate Impact Fund, LP						Delaware
ICG IX Debt Funding I, LLC						Delaware
ICG IX Debt Funding III, LLC						Delaware
ICI II Debt Funding V, LLC						Delaware
Innovation Credit Growth Fund IX-U, L.P.						Delaware
Innovation Credit Growth IX Splitter, L.P.						Delaware
Innovation Credit SMA II SPE, LLC						Delaware
Innovation Credit SMA II, L.P.						Delaware
SIF Holding Vehicle (CR-2022), L.P.						Delaware
SIF Holding Vehicle (EX-2022), L.P.						Delaware
SIF Holding Vehicle (US-GR-2022), L.P.						Delaware
Sprout Endurance Partners II Cayman, L.P.						Cayman
Sprout Endurance Partners II, L.P.						Delaware
Sprout Endurance Partners II, LLC						Delaware
SVB Arizona Innovation Credit Partners, LLC						Delaware
SVB Capital (Ireland) Limited						Ireland
SVB Capital (UK) Limited						England
SVB Capital Arterial Fund I, L.P.						Delaware
SVB Capital Arterial Partners I, LLC						Delaware
SVB Capital Portugal Unipessoal LDA						Portugal
SVB CP Climate Impact GP, LLC						Delaware
SVB Innovation Credit Partners SMA II, LLC						Delaware

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SVB Securities Holdings, Inc.						Delaware
SVB Leerink Capital LLC						Delaware
Healthcare Innovation Investment Fund LLC						Massachusetts
SVB Securities LLC						Delaware
SVB Leerink MEDACorp LLC						Delaware
Leerink Transformation Fund I GP LLC						Delaware
LTP K Holdings L.P.						Delaware
Leerink Transformation Investors I L.P.						Delaware
Leerink Transformation Fund I (Cayman Feeder) L.P.						Cayman Islands
Leerink Transformation Fund I GP L.P.						Delaware
Leerink Transformation Fund I L.P.						Delaware
Massachusetts Innovation Catalyst Fund I L.P.						Delaware
LTP BHE LP						Delaware
LTP Feeder BHE LP						Delaware
LKCP, LLC						Delaware
Leerink Transformation Carry Vehicle L.P.						Delaware
Leerink Transformation Partners LLC						Delaware
LTP Informa Corporation						Delaware
LTP Informa L.P.						Delaware
MoffettNathanson LLC						Delaware
BPFH Holdings LLC						Delaware
Boston Private Capital Trust I						Delaware
Boston Private Capital Trust II						Delaware
BPB Securities Corporation						Massachusetts
BPB Securities Corporation II						Massachusetts
BPB-IMT & Co., LLP						Massachusetts
SVB Wealth LLC						Massachusetts
Lerob LLC						California
Ten Winthrop Properties, Inc.						Massachusetts
StartupOS, Inc.						Delaware