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.