SAN DIEGO - January 17, 2002 - Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced it provided NextGig, Inc. with an equipment term loan.
San Diego-based NextGig, a leading developer of database infrastructure products, will use the financing for equipment and software purchases. NextGig's products will enhance overall data center performance and enable next-generation enterprise applications to run more efficiently.
"As we move forward through the growing stages of our company and prepare for our product delivery later this year, Silicon Valley Bank will continue to be a great resource to us," said Andy Kaiser, vice president of finance for NextGig. "More than just a bank, Silicon Valley Bank has been assisting us through several different stages of our business cycle."
"Silicon Valley Bank had built a strong relationship with NextGig's founders based on our experience in serving their prior successful company, iPivot," said Jeff Huhn, senior relationship manager in the Bank's San Diego office. "We look forward to working with the team again, and supporting the growth of NextGig." About NextGig, Inc.
NextGig, Inc. is developing database infrastructure products that will elevate data center performance by an order of magnitude products that will make enterprises and e-businesses fly faster and run smarter. NextGig was founded in early 2001 and features a carefully selected team of executives, engineers, architects and marketers from various industry-leading companies. NextGig is funded by ComVentures and Doll Capital Management. For more information on NextGig, visit http://www.nextgig.com. About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and middle market companies in targeted niches, focusing on technology and life sciences, while also addressing other specific industries in which it can provide a higher level of service and better manage credit through specialization and focus.
The Bank operates throughout the Silicon Valley: Fremont, Santa Clara, Palo Alto and Sand Hill, the center of the venture capital community in California. Other regional offices within California include: Irvine, Los Angeles, Napa Valley, San Diego, San Francisco, Santa Barbara, and Sonoma. Office locations outside of California include: Phoenix, Arizona; Boulder, Colorado; West Palm Beach, Florida; Atlanta, Georgia; Chicago, Illinois; Boston, Massachusetts; Minneapolis, Minnesota; New York, New York; Durham, North Carolina; Portland, Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas; Northern Virginia; and Seattle, Washington. More information on the Bank can be found at www.svb.com
Jeff Huhn, San Diego Regional Office, (858) 784-3306
Andrea McGhee, Corporate Communications, (408) 654-3078