WestRiver Group will market personal debt expense enterprise to SVB Monetary Group

Seattle financial commitment business WestRiver Group agreed to offer its financial debt expense organization to SVB Monetary Team, the parent company of Silicon Valley Lender (SVB).

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(GeekWire Photograph / Taylor Soper)

The deal will assist generate the SVB Capital Credit Platform, a new arm of SVB that will deliver investment opportunities to institutional buyers and financial debt alternatives to commercial banking clients.

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WestRiver Group earlier partnered with SVB on many transactions. Erik Anderson, CEO of WestRiver Group, will joined SVB as government chairman of the SVB Money Credit history Platform.

“Erik and his staff are a welcome addition to SVB Capital and will be instrumental in building our credit history platform and providing on SVB’s mission to be the ideal associate for technology and everyday living science businesses and their investors,” SVB Funds President John China reported in a assertion.

Phrases of the offer ended up not disclosed.

WestRiver Team has a wide portfolio of investments that consists of firms these types of as Singularity University and Electrical power Innovation Funds, along with Seattle-area startups these types of as Igneous, Pro.com, Wicket Labs, Madrona Undertaking Labs, The Riveter, and far more. The business has close to $2 billion in property less than administration.

Anderson is also leading a new special objective acquisition organization, or SPAC, in the local climate market.