Silicon Valley Bank Celebrates 30 Years
Having opened its doors in San Jose, CA in October 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.”
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.
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.