SAN FRANCISCO – Silicon Valley Bank (SVB), a division of First Citizens Bank, has entered into a strategic lending relationship with Pinegrove Venture Partners (“Pinegrove”), with the goal of deploying $2.5 billion in venture debt loans to technology and life science companies over the coming years.
Expanding Venture Debt Solutions for High-Growth Companies
Pinegrove, backed by Sequoia Heritage and Brookfield Asset Management, is a venture investment platform managing over $10 billion in assets. The firm partners with founders, fund managers, and limited partners, while SVB’s Strategic Capital Group remains a leading venture debt provider to the innovation economy.
The collaboration extends venture debt access to fast-growing startups that require flexible capital solutions. Notably, Pinegrove acquired SVB Capital, SVB’s former venture capital arm, from SVB Financial Group in 2024, further strengthening the alignment between the two organizations.
Executive Perspectives
Marc Cadieux, President of SVB, commented:
“This marks a reunion for two teams that have worked together for many years with a common goal—supporting the innovation economy. SVB and Pinegrove understand the unique financing needs of innovation-driven companies. Together, we are expanding access to the capital these businesses need to scale and succeed. Given our shared history, we have a great head start on a successful relationship.”
Jim Ellison, Managing Partner and Head of Private Credit at Pinegrove, added:
“The Pinegrove team has worked with SVB for over a decade to develop differentiated and flexible venture debt solutions. This partnership strengthens our ability to provide capital that aligns with the evolving needs of technology companies and venture investors. We couldn’t be more thrilled about continuing this collaboration with the leading bank in the innovation economy.”
Longstanding Collaboration and Commitment to Innovation
Pinegrove and SVB have maintained a trusted relationship for over a decade, collectively committing more than $10 billion in venture debt across 550 loans.
This expanded lending relationship reinforces both firms’ commitment to empowering high-growth technology and life science companies, ensuring they have the financing tools needed to drive innovation and scale their businesses.
