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1 results

  • 9 - Leveraging the VC Relationships for Expansion

  • Xuan-Thao Nguyen, University of Washington
  • Book:
    Silicon Valley Bank
    Published online:
    08 February 2024
    Print publication:
    15 February 2024, pp 194-216

  • Summary

    Roger Smith and Harry Kellogg frequently remarked that Silicon Valley Bank (SVB) was all about relationships. The statement sounds like a cliché but until one truly absorbs its meaning it does not resonate and may soon be forgotten as relationships are challenging to understand, cultivate, and nurture strategically. Relationships with marquee VC firms and tech startups in the VC ecosystem were what set SVB apart from public venture lenders, private venture lenders, and other banks that dared to compete in venture debt lending. SVB bankers worked hard at building relationships and expanding the products and services to capture 100 percent of the VC ecosystem. The path was not always smooth, but the bankers tried; they finessed the edges and founded SVB Capital, SVB Premium Wine, and SVB Securities. Peculiarly, no bank rivalled to SVB on its path of expansion.