Chicago –– March 14, 2011 —Silicon Valley Bank, financial partner to venture capital, technology and life science companies of all sizes worldwide, hired former venture capitalist and entrepreneur John Hoesley to run its Venture Capital and Private Equity Services Group in the Midwest. Based in Silicon Valley Bank's Chicago office, Hoesley will focus on relationships with venture capital and private equity firms throughout the Midwest, providing them with a full spectrum of banking services and debt financing alternatives.
Silicon Valley Bank (SVB) works with more than half of all VC firms worldwide, providing the traditional and innovative financial services required to run their businesses, including deposit, credit and foreign exchange services, capital call lines and financing for their portfolio companies. Additionally, SVB offers a variety of analytical products, including valuations, corporate equity management, performance benchmarking and insight into private technology companies that is not available elsewhere.
"With nearly 30 years experience, SVB understands the banking needs of venture capital investors better than anyone," said John China, head of venture capital and private equity relationship management for Silicon Valley Bank. "John's background as an entrepreneur and a VC himself make him the perfect person to bring all SVB has to offer our valued VC clients in the Midwest. We are thrilled to have him on board."
Hoesley will ensure SVB's VC and private equity clients and partners in the Midwest have the full range of financial services required by their businesses in the US and around the globe. In addition to banking services, he will provide access to the best data available on technology, life science and cleantech companies through SVB Analytics.
Hoesley joins SVB after 10 years with Prism Capital in Chicago, where he was a partner and launched the firm's healthcare initiative. Previously, Hoesley was the CFO of Legato Partners and he co-founded Evincio Corporation, provider of data management software. Hoesley has a bachelor's degree in chemistry from the University of Illinois at Urbana-Champaign and a master of management degree from the J.L. Kellogg Graduate School of Management. He is on the board of the Illinois Venture Capital Association, is the President of IMSA Fund for the Advancement of Education and is a member of the Midwest healthcare Investor Network.
About Silicon Valley Bank
Silicon Valley Bank, which has been established in the Midwest since 1998, provides commercial banking services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 26 U.S. offices and five international operations. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), along with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.
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.