DENVER, Jan. 21, 2020 /PRNewswire/ -- Silicon Valley Bank (SVB Financial Group, NASDAQ: SIVB), the bank of the world's most innovative companies and their investors, today announced the opening of its new office in downtown Denver. SVB has played a key role in building and supporting the technology, life science and investor community in Colorado since 1996 when it opened an office in Boulder.
"SVB is a vital part of the fabric of the Colorado innovation economy," said David Cohen, Founder of Techstars. "They have a deep understanding of the needs and challenges of local technology and life science companies and are committed to helping them achieve their goals. We're proud of our continued partnership with SVB and their unwavering support of Techstars and our portfolio companies."
"With $2.03 billion raised in venture capital in 2019 and more companies expanding into the region, Colorado continues to rightfully attract the attention of investors and founders," said Josh Dorsey, Managing Director at Silicon Valley Bank. "We knew Colorado was a special place more than two decades ago when Greg Becker, our current CEO, moved from Silicon Valley to Boulder to open our first office here. Since then we've had an incredible opportunity to help build and support innovation and entrepreneurship throughout the state and are thrilled to continue to work with founders and investors from our new Denver office."
With the move to the Tabor Center at 1200 17th Street, the Denver office will house 50 employees with space for planned future growth. Denver serves as a leadership hub for credit administration and several SVB teams, including the Global Fund Banking team serving the Rocky Mountains, the Central US, the Pacific Northwest and Canada, and the Central US Life Sciences team. Led by Mark Thylin, the Global Fund Banking Team works with venture and private equity firms, including local firms Foundry Group, Platte River Equity, Resource Capital Funds and Techstars Ventures. Managing Director Tom Hertzberg and his team of healthcare bankers provide financial services to fast-growing local companies such as Clovis Oncology, Inscripta, Array Biopharma and ArcherDX. In addition, Mike Devery, head of the Strategic Capital Group, provides mezzanine and convertible debt to growth stage technology companies.
The downtown office features an event space for SVB-hosted and industry events and a board room with video conferencing for use by SVB clients and local non-profits supported by SVB. With 12 ski resorts within a two hour drive, the office also offers ski lockers and a home base for founders, CEOs and investors visiting the area and looking to hit the slopes.
Silicon Valley Bank serves innovative companies and their investors around the world, from life science to healthcare, venture capital to private equity and tech. SVB banks half of all venture-backed companies in the U.S. and is one of the fastest-growing companies in the world. By providing innovative banking products with an entrepreneurial spirit and advancing issues that align with its mission, SVB fosters innovation all over the globe.
About Silicon Valley Bank
For more than 35 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 svb.com.
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SOURCE Silicon Valley Bank
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