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Silicon Valley Bank opens B'lore unit
By siliconindia staff writer
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Friday, 15 October 2004, 19:30 IST
BANGALORE: Nasdaq-listed Silicon Valley Bank (SVB) has set up its subsidiary in Bangalore — SVB India Advisors — to facilitate cross-border business between Silicon Valley and Bangalore.
SVB, which services around 10,000 clients in the Valley, also plans to rope in several private equity firms like Benchmark Capital, Oak Investment Partners, Golden Gate Capital, Sequoia Capital, Three Arch Partners and Silver Lake Partners to explore opportunities in the Indian technology sector.
‘‘We see great opportunity in India, as we saw in Silicon Valley over twenty years ago. India’s technology industry is filled with potential and we are anxious to work with local entrepreneurs and the venture capital community to help encourage the next generation of India’s technology industry,’’ stated an SVB official.
SVB India Advisors will offer business and consulting services to US- and India-based technology companies and investors conducting cross-border business. The bank is evaluating business opportunities that fit the market need in India.
Unique in the financial services industry and true to its client-focused model, SVB offers technology companies, investors and entrepreneurs sector expertise coupled with valuable resources through its international expansion.
Silicon Valley BankÂ’s presence in Bangalore is expected to strengthen and grow its existing relationships in India where it sees opportunities in working with entrepreneurs and venture capitalists. Moreover, the bank also plans to liaison with SVBÂ’s Global Financial Services group for financial services including global treasury, foreign exchange , global finance and global trade.