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SVB Money Group To Obtain WestRiver Group’s Financial debt Investment Small business

SANTA CLARA, Calif., Nov. 30, 2020 /PRNewswire/ — SVB Economic Group today declared that it has entered into an settlement to acquire the debt fund business of WestRiver Team, a Seattle-primarily based service provider of built-in cash methods for the world-wide innovation financial system. The acquisition will help SVB Money, SVB Economical Group’s money administration business, to set up the SVB Cash Credit rating System to provide institutional investors with added expenditure alternatives in the innovation financial state and present new financial debt options to Silicon Valley Bank’s commercial banking clients. SVB Economic Team is the guardian business of Silicon Valley Bank, the lender of the world’s most ground breaking firms and their traders.

SVB has experienced a extended-standing romantic relationship with Seattle-based mostly WestRiver Group and its founder and CEO Erik Anderson. The WestRiver personal debt crew gives debt funds to venture cash and non-public equity-backed technological innovation and life science providers. Above the previous eight many years, WestRiver’s financial debt system has repeatedly expanded to augment and enhance SVB’s expansion, providing Silicon Valley Bank with capital to execute on partnered transactions. With the introduction of the SVB Capital Credit history System, SVB Capital and Silicon Valley Financial institution will be in a position to fulfill the greater debt demands of their investment and lending purchasers and provide new and pertinent funding alternatives.

SVB Funds has been investing in the innovation economy for much more than 20 decades and manages $5.5B in assets across numerous funds. Restricted companions look to SVB Cash for access to the most promising organizations and fund professionals in the innovation financial state. The SVB Money Credit score Platform expands the fund spouse and children to existing and new SVB Cash investors. Cash in the Credit score System will deliver a differentiated hazard profile and investment decision length made for traders searching for obtain and returns from the innovation sector.

“WestRiver Team has been a great associate to SVB for the previous eight many years. With each other we have supported revolutionary firms throughout the country with the funding they need to have to scale,” mentioned John China, President of SVB Funds. “Erik and his workforce are a welcome addition to SVB Funds and will be instrumental in producing our credit score system and offering on SVB’s mission to be the ideal lover for technological know-how and life science firms and their buyers.

The transaction is expected to near by the end of 2020. Upon closing, Erik Anderson will be part of SVB as the Govt Chairman of the SVB Cash Credit history Platform and will also provide as Chair of the SVB Money Advisory Committee. Erik, alongside with SVB veterans Jim Ellison and Pete Scott, will direct the Credit Platform, with fundraising and procedure aid from SVB Funds. As the Head of the Credit history Platform, Jim Ellison will oversee the investment decision group, which will be accountable for originating, underwriting and controlling the investment portfolio. Chief Credit Officer Pete Scott will determine expenditure techniques, establish new merchandise and oversee allocation and reporting throughout the investment decision portfolio. In addition to its area in Menlo Park, California, SVB Money will now have an office environment in downtown Seattle.

“This enjoyable collaboration very best positions SVB Capital to deliver minimal associates entry to and opportunity returns in the world-wide innovation economy,” stated Anderson. “Our workforce, which includes WRG credit card debt running administrators Ryan Grammer, JP Michael and Craig Caukin, appears to be like forward to this beneficial partnership.”

For much more facts about SVB, visit www.svb.com.

About SVB Fiscal Group
For more than 35 decades, SVB Monetary Group (NASDAQ: SIVB) and its subsidiaries have assisted ground breaking organizations and their traders shift bold suggestions forward, speedy. SVB Monetary Group’s businesses, which include Silicon Valley Bank, present industrial and non-public banking, asset administration, personal wealth administration, brokerage and financial commitment companies and money administration providers to providers in the technology, lifestyle science and healthcare, private equity and enterprise cash, and premium wine industries. Headquartered in Santa Clara, California, SVB Economic Group operates in facilities of innovation all over the world. Find out extra at svb.com.

SVB Monetary Group is the keeping corporation for all small business units and groups © 2020 SVB Economical Team. All legal rights reserved. SVB, SVB Economical Team, SILICON VALLEY Bank, MAKE Future Take place NOW and the chevron unit are emblems of SVB Monetary Team, employed below license. Silicon Valley Lender is a member of the FDIC and the Federal Reserve Technique. Silicon Valley Bank is the California lender subsidiary of SVB Money Team. [SIVB-F]

About WestRiver Group
WestRiver Team (WRG) is a assortment of expenditure resources supplying integrated cash alternatives to the world innovation economy. The Seattle-primarily based enterprise financial debt and fairness business features a rising portfolio of investments in technology, daily life sciences, energy and experiential sectors. 

Source Silicon Valley Bank

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http://www.svb.com