SANTA CLARA, Calif., Oct. 17, 2013 /PRNewswire/ -- Having opened its doors on this date in San Jose, CA in 1983, Silicon Valley Bank, financial partner to technology and life science companies, their investors, and the wine industry, celebrates its 30th anniversary in 33 locations around the world today.
Conceived by Silicon Valley businessmen Bob Medearis and Bill Biggerstaff, the co-founders were looking for a way to serve the entrepreneurial technology community, which at the time lacked access to debt financing and banking services. Since its founding led by the company's first CEO Roger Smith, Silicon Valley Bank has grown to serve thousands of companies of all sizes and specialties and their investors through offices in five countries, and its wine division, one of the largest lenders to premium wineries in the West.
"Our founders set out to create a different kind of bank, and we're proud to say, we're delivering on that goal in ways they never imagined," said Greg Becker, President and CEO of Silicon Valley Bank.
"The concepts, innovations, amazing thinkers and successful business leaders that pass through our doors around the world every day are incredible. To this day, we are true to SVB's original mission to help entrepreneurs succeed, and we have vastly expanded that to innovation companies of all sizes and locations over the years." Video: Welcome to Silicon Valley Bank
From total assets in 1983 of $18 million, Silicon Valley Bank has grown to $23 billion in total assets, $42 billion in total client funds*, a family of venture capital-focused funds exceeding $1.7 billion and market share that includes half of all venture capital-backed technology companies in the US. Silicon Valley Bank is instrumental in the development and growth of companies that develop life-changing innovations in technology and healthcare.
More on SVB's Financial Performance.
To celebrate its anniversary, Silicon Valley Bank is hosting a series of events to engage its clients and the communities in which it operates:
- 30 Years | 30 Causes – 30 Community Service events in each of SVB's locations globally. More than 1,400 volunteers are spending nearly 7,000 hours making a positive impact in their communities.
- 30 Pearls of Wisdom – The traditional 30th anniversary gift is the pearl, so for the past 30 days, Silicon Valley Bankers have been releasing their best short-form advice to tech companies via the company's social media channels. Share the Pearls from LinkedIn, Twitter, Facebook, Google+ or Instagram with #SVB30.
- 30 for 30 CEO Series – SVB CEO Greg Becker is hosting 30 CEOs at 30 events with guests including Al Gore, T. Boone Pickens, Rahm Emanuel, Craig Barrett, and many others.
- Level the Coding Field – In support of SVB's clients' critical need for workers with STEM skills, SVB teamed up with Level Playing Field Institute, AT&T and others to train Bay Area youth to develop apps at two hackathons this fall.
* Total Client Investment Funds (Off balance sheet). As reported on a consolidated basis for the period end December 31, 2013.
About Silicon Valley Bank
Banking the world's most innovative companies and exclusive wineries, SVB's diverse financial services, knowledge, global network, and world class service increase our clients' probability of success. With $23 billion in assets and more than 1,600 employees, we provide commercial, international and private banking through 33 locations worldwide. In 2012, Forbes Magazine ranked SVB among America's Best Banks and Fortune named SVB one of the best places to work. (SIVB) 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.
- Venture Capital