Silicon Valley Bank Celebrates 10 Years in New York City

New Accelerator Program Focuses on Innovation Among Local Entrepreneurs and Startups

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Sep 29, 2011, 08:00 ET

NEW YORK, Sept. 29, 2011 /PRNewswire/ -- Silicon Valley Bank, financial partner to the innovation sector worldwide and banker to more than half of the nation's venture capital-backed technology and life science companies, celebrates the tenth anniversary of its New York City office this week. Offering banking services to more than 300 New York-area technology and life science companies of all sizes, Silicon Valley Bank's New York City office recently added additional services through its Accelerator program for early stage companies that have yet to raise angel or venture capital financing.

"Silicon Valley Bank has been a true partner to us," said John Roberts, CFO of OpenSky. "They understand the long-term needs of entrepreneurs and start-ups beyond funding and have offered us advice and guidance at various stages of our fast growing business."

Silicon Valley Bank has been dedicated to the technology, life science and venture capital sectors in the New York City area since 2001 and in other technology hubs nationwide since 1983. The company's experienced technology, cleantech and life science bankers offer a full range of financing solutions to companies as they grow from startups to multinational corporations including treasury management, corporate investment and international banking services.

"For a decade, this has been a great market for us to help technology and life science companies and their investors build their businesses locally and internationally," said Michael Moretti, Senior Relationship Manager for Silicon Valley Bank in New York. "Today, there is an incredible boom going on in New York with an abundance of talented entrepreneurs doing amazing things. With our history in these sectors and the local market, we are reaching out with new programs to help even the earliest-stage companies get off the ground."

In 2011, Shai Goldman of Silicon Valley Bank's Palo Alto, California office joined the New York team to bring the company's Accelerator program to local startups. The Accelerator program offers banking services startups need as they grow, and educational and networking events to connect entrepreneurs and investors, while contributing to the growth of New York's entrepreneurial community. Goldman introduces digital media, consumer Internet, mobile, SaaS, and gaming companies, among others, to investors to help them raise seed and series A financing.

Silicon Valley Bank is a sponsor of General Assembly and TechStars in New York. Its Fifth Avenue office is relocating this year to a space more than double in size to account for new client acquisitions and its growth in the region.

About Silicon Valley Bank

Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 26 U.S. offices and seven international operations. (Nasdaq: SIVB) www.svb.com.

Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.

SOURCE Silicon Valley Bank