SHANGHAI and SANTA CLARA, Calif. — November 11, 2010 — SVB Financial Group, the parent company of Silicon Valley Bank and financial partner to technology companies and venture capitalists worldwide, held its board of directors meeting in Shanghai this week, the first time the meeting has been held outside of the United States.
SVB
Financial Group has
been building long-term, strategic relationships in China for more than a
decade and recently expanded its presence in the country with the opening of
SVB Business Partners (Beijing) Co., Ltd. in October 2010. Hosting the board of directors meeting in
Shanghai provided an opportunity for SVB to showcase its current activities in
China to the board of directors, and underscore the important role the country
plays in SVB's future growth.
"Many of
our board members have been to China on their own or on behalf of their
companies, but few of them have visited SVB's offices in Shanghai and Beijing
or met with our growing local team. We are
thrilled to welcome the entire board to China and give them a sense of the
entrepreneurial environment here and the opportunities for growth," said Ken
Wilcox, Chief Executive Officer of SVB Financial Group. "We are confident that China will continue to
play an important role in SVB's future and we look forward to obtaining our
long term goal of providing a full banking platform for Chinese
companies."
SVB
currently works with Chinese companies and investors through SVB Business
Partners (Beijing) Co. Ltd. and SVB Business Partners (Shanghai) Co. Ltd.,
which was opened in 2005 as SVB's first subsidiary in China. Both subsidiaries provide local technology
companies and venture capital investors with in-market client service support;
advisory services for arranging RMB loans with local banks; and introductions
to Silicon Valley Bank, their affiliate in the U.S., for venture debt financing
and offshore banking services.
In
addition, Silicon Valley Bank opened the Shanghai Representative Office in 2009
in the city's Yangpu District to introduce the Chinese entrepreneurial and
technology communities to Silicon Valley Bank. In 2010, SVB extended its
U.S.-based Entrepreneur Services Platform into China to provide Chinese
entrepreneurs with educational programming and networking opportunities with
qualified investors. SVB's Entrepreneur Services Platform holds an agreement
with the Shanghai Municipal Government to provide a week-long training session
for the Municipality's top venture capital policy makers. SVB Capital, SVB
Financial Group's venture capital group, also holds an agreement with the
Yangpu District to manage a direct investment fund and a fund of funds for the
Yangpu District Government.
Beyond
its banking-related activities, and in an effort to help bolster China's
innovation economy, SVB has made direct equity investments in Zhejiang
Uni-power Guaranty ("UPG"), a credit guarantee company targeting the SME market
in China, as well as Zero2IPO Group, a leading integrated service provider for
the China venture capital and private equity industries. SVB has made more than
a dozen investments in China-focused venture capital funds, including funds
managed by DT Capital, Hony Capital, and SBCVC, among others.
Together, SVB Financial Group's collaborative efforts in China are intended to help foster the country's technology and life science entrepreneurs.
About SVB
Financial Group For
nearly three decades, SVB Financial Group and its subsidiaries, including Silicon
Valley Bank, have been dedicated to helping entrepreneurs succeed. SVB
Financial Group is a financial holding company that serves companies in the
technology, life science, venture capital and premium wine industries. Offering
diversified financial services through Silicon Valley Bank, SVB Analytics, SVB
Capital, SVB Global and SVB Private Client Services, SVB Financial Group
provides clients with commercial, investment, international and private banking
services. The company also offers funds management, broker-dealer transactions
and asset management, as well as the added value of its knowledge and networks
worldwide. Headquartered in Santa Clara, Calif., SVB Financial Group (Nasdaq:
SIVB) operates through 26 offices in the U.S. and international operations in
China, India, Israel and the United Kingdom. More information on the company
can be found at 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. SVB Business Partners
(Shanghai) Co., Ltd. and SVB Business Partners (Beijing) Co., Ltd. are subsidiaries
of SVB Financial Group. SVB Business
Partners (Shanghai) Co., Ltd., SVB Business Partners (Beijing) Co., Ltd. and
SVB Financial Group are not licensed to conduct banking business in China and
do not engage in unlicensed banking activities.
SVB Business Partners (Shanghai) Co., Ltd. and SVB Business Partners
(Beijing) Co., Ltd. do not provide lending, deposit or investment advisory
services. Silicon Valley Bank Shanghai
Representative Office conducts liaison activities for Silicon Valley Bank
pursuant to the regulations and guidelines of the CBRC. All international activity is subject to
local rules and regulations.