DragonVenture, Silicon Valley Bank Form Strategic Alliance to Provide Banking Services to China-based High Tech Companies and Chinese-American Startups
Company news | September 11, 2001
San Jose, CA -- September 11, 2001 -- DragonVenture, Inc., (www.dragonventure.com) the premier cross-Pacific venture capital, soft incubation and consulting company, today announced a strategic partnership with Silicon Valley Bank (NASDAQ: SIVB), a leading bank servicing the needs of emerging growth technology and life sciences companies nationwide, and a wholly owned subsidiary of Silicon Valley Bancshares. The agreement calls for Silicon Valley Bank to provide specialized banking services for startups as well as assistance to China-based companies planning to open U.S. accounts.
Silicon Valley Bank has established a national reputation in the emerging growth market based on a high level of expertise in a number of technology and life sciences niches. With a solid understanding of the true risks and rewards of early stage companies, Silicon Valley Bank is widely recognized for its ability to develop innovative approaches to meet clients' lending challenges. Building on its successful experience in Northern California, Silicon Valley Bank has grown to serve more than 9,500 clients through 26 offices nationwide. In 2000, nearly one-third of all technology and life sciences IPOs were Silicon Valley Bank clients. Some of the high tech and life sciences clients include Cygnus (NASDAQ: CYGN), Abraxis (NASDAQ: ABAX), Intrabiotics (NASDAQ: IBPI), Inktomi (NASDAQ: INKT), Tivo (NASDAQ: TIVO), Teryaon Communications (NASDAQ: TERN), Loudcloud (NASDAQ: LDCL), Exodus Communications (NASDAQ: EXDS), and Harmonic (NASDAQ: HLIT).
"By working closely with Silicon Valley Bank, not only are we able to expedite the process for setting up banking services for the startup and China-based corporations we help, we also enable our clients and portfolio companies to tap into a highly selective networks of bank clients," said DragonVenture's Vice President of Technology, Edwin Yeh. "This allows the companies we service to quickly immerse into Silicon Valley's network of entrepreneurs, angel investors, and high tech industry contacts."
"Silicon Valley Bank is excited about the additional exposure DragonVenture will provide to the growing number of startups formed by entrepreneurs of Asian American origin in the Silicon Valley," said Silicon Valley Bank's International Venture Capital Group Managing Director, Daniel Quon. "Dragon Venture will also provide exposure to the growing number of companies in mainland China focusing on high technology and wanting to expand their presence to the United States."
About DragonVenture, Inc.
DragonVenture, Inc. is a premier cross-Pacific venture capital and consulting company specializing in bridging the U.S. and the Greater China marketplaces. DragonVenture manages funds that invest in emerging companies in the areas of telecommunications, Internet infrastructure, IC & Semiconductor, and Linux . The company provides cross-Pacific consulting services and facilitates cross-Pacific strategic alliances and/or partnerships, and, mergers and acquisitions through DragonVenture's M&A Fund. DragonVenture, Inc. is located at 20 Great Oaks Blvd. Suite 130, San Jose, CA 95119 and also has a branch office in Beijing, China. For more information visit www.dragonventure.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: 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; Durham, North Carolina; Portland, Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas; Northern Virginia; and Seattle, Washington.
SVB Contact: Andrea McGhee, (408) 654-3078, firstname.lastname@example.org
DragonVenture Media Contact: Imelda Valenzuela, (408) 578-8300 x117, email@example.com