DragonVenture, Silicon Valley Bank Form Strategic Alliance to Provide
Banking Services to China-based High Tech Companies and Chinese-American
Startups
SAN JOSE, Calif. Sept. 17, 2001
DragonVenture, Inc. (www.dragonventure.com),
a premier cross-Pacific venture capital, soft incubation and consulting
company, today announced the a strategic partnership with Silicon
Valley Bank (NASDAQ: SIVB),
a leading bank servicing the needs of emerging growth technology and
life sciences companies nationwide, and a wholly owned subsidiary
of Silicon Valley Bancshares.
The agreement calls for Silicon Valley Bank to provide specialized
banking services for startups as well as assistance to China-based
companies planning to open U.S.
accounts.
Silicon Valley Bank has
established a national reputation in the emerging growth market
based on a high level of expertise in a number of technology and
life sciences niches. With
a solid understanding of the true risks and rewards of early stage
companies, Silicon Valley Bank is widely recognized for its ability
to develop innovative approaches to meet clients' lending challenges.
Building on its successful experience in Northern California,
Silicon Valley Bank has grown to serve more than 9,500 clients through
26 offices nationwide. In
2000, nearly one-third of all technology and life sciences IPOs
were Silicon Valley Bank clients.
Some of its high tech and life sciences clients include Cygnus
(NASDAQ: CYGN), Abraxis (NASDAQ: ABAX), Intrabiotics (NASDAQ: IBPI),
Inktomi (NASDAQ: INKT), Tivo (NASDAQ: TIVO), Teryaon Communications
(NASDAQ: TERN), Loudcloud (NASDAQ: LDCL), and Harmonic (NASDAQ:
HLIT).
"By working closely with
Silicon Valley Bank, not only are we able to expedite the process
for setting up banking services for the startup and China-based
corporations we help, we also enable our clients and portfolio companies
to tap into a highly selective network of banking clients,?said
DragonVenture's Vice President of Technology, Edwin Yeh.
“This allows the companies
we service to quickly immerse into Silicon Valley
's network of entrepreneurs, angel investors, and high tech industry
contacts."
"Silicon Valley Bank is
excited about the additional exposure DragonVenture will provide
to the growing number of startups formed by entrepreneurs of Asian
American origin in the Silicon Valley ,?said
Silicon Valley Bank's International Venture Capital Group Managing
Director, Daniel Quon.
“Dragon Venture will also provide exposure to the growing
number of companies in mainland
China focusing on high technology
and wanting to expand their presence to the
United States ,?
About Silicon Valley
Bank
Silicon Valley Bank serves
emerging growth and middle market companies in targeted niches,
focusing on technology and life sciences, while also addressing
other specific industries in which it can provide a higher level
of service and better manage credit through specialization and focus.
The Bank operates throughout
the Silicon Valley :
Santa Clara , Palo
Alto and Sand Hill, the center of the venture
capital community in California
. Other
regional offices within California
include: Irvine
, Los Angeles
, Napa
Valley , San
Diego , San Francisco
, Santa Barbara
, and Sonoma .
Office locations outside of California include: Phoenix,
Arizona; Boulder, Colorado; West Palm Beach, Florida; Atlanta, Georgia;
Chicago, Illinois; Boston, Massachusetts; Minneapolis, Minnesota;
New York, New York; Durham, North Carolina; Portland, Oregon; Philadelphia,
Pennsylvania; Austin, Texas; Dallas, Texas; Northern Virginia; and
Seattle, Washington. For more information visit www.svb.com.
About
DragonVenture, Inc.
DragonVenture, Inc. is a premier cross-Pacific venture capital,
consulting and soft incubation company specializing in bridging
the U.S.
and Greater China marketplaces.
DragonVenture manages funds that invest in emerging companies
in the areas of telecommunications, Internet infrastructure, IC
& Semiconductor, and Linux.
The company provides cross-Pacific consulting services and
facilitates cross-Pacific strategic alliances and/or partnerships,
and mergers and acquisitions through DragonVenture's M&A Fund.
DragonVenture, Inc. is located at 20 Great Oaks Blvd. Suite
130, San Jose , CA
95119 and also has
a branch office in Beijing ,
China .
For more information visit www.dragonventure.com.
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