Silicon Valley Bank’s Joint Venture Bank Expands in Support of China’s Innovation Sector
SANTA CLARA, CA – March 1, 2017 – Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, today announced further expansion into China through SPD Silicon Valley Bank’s (SSVB) newest branch in Beijing. SPD Silicon Valley Bank is a joint venture bank that was established by Silicon Valley Bank and its partner, Shanghai Pudong Development Bank Co., Ltd., in order to offer specialized commercial banking services specifically for innovative companies and their investors in China. This is SSVB’s second branch, after opening in Shanghai in 2012.
SPD Silicon Valley Bank continues to build its presence in China working with both Chinese and foreign companies looking to do business in the country. SSVB provides entrepreneurs, startups, enterprises and investors insights and expertise based on its relationship with Silicon Valley Bank, and it provides the commercial banking products and services that help innovative companies increase their probability of success.
“Together with our international partners, Silicon Valley Bank has a unique ability to serve the world’s growing innovation economy, comprising the domestic technology and healthcare segment, as well as the businesses from other countries and those that work across borders,” said Greg Becker, President and CEO of Silicon Valley Bank. “The innovation sector is global. High-growth technology-focused companies that create jobs and economic opportunity expand overseas early in their lives and require partners that can help them navigate internationally. Our partnership with SSVB opens doors for innovators around the world.”
The new Beijing branch is located in the Chaoyang District and is home to approximately 14 employees. Itofficially opened to technology, life science and cleantech companies on February 28, 2017. Visit www.svb.com/china for more information.
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at www.svb.com.
©2017 SVB Financial Group. All rights reserved. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group. Silicon Valley Bank is a member of FDIC and Federal Reserve System. SVB>, SVB Financial Group, and Silicon Valley Bank, are trademarks of SVB Financial Group, used under license.
About SPD Silicon Valley Bank
Headquartered in Shanghai, China, SPD Silicon Valley Bank (SSVB) is a joint venture between Shanghai Pudong Development Bank Co., Ltd. (“SPDB" SSE: 600000) and Silicon Valley Bank (“SVB" NASDAQ: SIVB (SVB Financial Group)). SSVB is the first technology and innovation bank in China serving as an independent legal entity. It is also the first Sino-US joint venture bank. SSVB’s mission is to “increase our clients’ probability of success" by providing unique financial products and services to the technology and innovation industry and redefining the banking experience for innovation companies of all sizes. SSVB aims to create the “Innovation Ecosystem" and strives to be the most sought-after bank for China’s innovation economy. Target clients include those in the hardware, software, Internet, mobile, consumer technology, life science, biotechnology and cleantech sectors.
SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, 硅谷银行, 硅谷银行金融集团, and the chevron device are trademarks, separately and in combination, of SVB Financial Group in China, Hong Kong, and elsewhere, and are used under license.
SPD, SHANGHAI PUDONG DEVELOPMENT BANK, and 浦发银行有限公司 are trademarks, separately and in combination, of Shanghai Pudong Development Bank, Ltd. in China, and are used under license.
SPD Silicon Valley Bank is a Sino-U.S. joint-venture bank of Silicon Valley Bank, the California bank subsidiary and commercial banking operation of SVB Financial Group, and Shanghai Pudong Development Bank.