SVB picks London base as gateway to Europe
Silicon Valley Bank (SVB) has served technology and life science businesses in the US for over 30 years, lending in the UK for 12 years. In 2012, it opened its UK Branch in London – seeing a gap in the market for a bank that truly understands innovators and can support their global growth.
London is an ecosystem that fosters success. Its world-class universities and training programmes make it a city filled with potential.
Phil Cox, Silicon Valley Bank
Europe's tech capital
The UK leads the way in terms of technology innovation, which brings a huge boost to the economy and job market. Silicon Roundabout and other tech clusters across the UK are burgeoning and have given rise to a strong ecosystem to which SVB contributes its expertise and international connections.
London ticks many boxes for SVB – access to venture capital and private equity is vital to its clients. Many of SVB’s key partners and active venture capital funds reside within a few concentrated miles, which makes raising capital in London quick and effective.
Outspoken support from the government and great organisations like London & Partners and UKTI, plus tax incentives for entrepreneurs have generated a healthy environment for tech and life science businesses and their investors.
London promotes public data sharing (for example, TFL shares its data with businesses like Citymapper and Bus Checker) which is another massive boost for the tech industry. The ODI estimates that UK open data-driven businesses turn over £92bn per annum.
London is an ecosystem that fosters success. Its world-class universities and training programmes make it a city filled with potential. Culturally, entrepreneurship in celebrated and encouraged – which is evidenced by the ready investment capital available in London for teams with smart ideas and strong business models.
Location, location, location
London is ideally placed physically, a gateway to Europe and the US, providing the ideal stepping stone to international expansion. London’s geographic and time zone location enables SVB to trade with Asia in the morning and the US in the afternoon.
The administrative cost of building a company in London is relatively low (according to NESTA and the OECD), with co-working spaces popping up all over the city to combat high rents. As London continues to foster an ecosystem that supports innovation, businesses will continue to achieve scale-up success.
SVB’s UK Branch has built a strong portfolio in just three years. It has been exciting to see UK businesses like Brandwatch, Farfetch.com, Made.com and The Foundry go from strength to strength, giving ambition and vision to the next generation of entrepreneurs all over the country. Whether a client is making its first cross-border transaction or expanding operations into the UK, having a London base helps SVB meet each client’s strategic needs.
About Silicon Valley Bank UK
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative businesses and their investors move bold ideas forward, fast. SVB provides a range of targeted financial services and expertise through its office in the UK. With commercial and international banking services, SVB helps address the unique needs of innovators. Forbes named SVB one of America’s best banks (2015) and one of America’s best-managed companies (2014). In 2014, SVB was recognised as Service Provider of the Year for the third year in a row at the Investor Allstar Awards in London.
Learn more at svb.com/uk