A small Silicon Valley bank that lends primarily to technology startups has opened a lending office in incubator space in Boston.
Bridge Capital Holdings in San Jose, Calif., said Friday that the new office is located within the Cambridge Innovation Center, just a short distance from the campuses of Harvard University and the Massachusetts Institute of Technology. The center, founded in 1999, is the Boston area's largest incubator space for small and growing technology companies. According to Bridge Capital, its occupants have raised over $1.1 billion in venture capital over the last decade.
In a news release, Dan Myers, the president and chief executive officer of Bridge's subsidiary, Bridge Bank, said the opening of the Boston office is "a key milestone in our strategy to grow and maintain our position as a leading bank serving emerging technology companies."
Bridge Bank was founded in 2001 and now has $987 million of assets. The Boston office is the third lending center the bank has opened outside of Silicon Valley; the others are in Reston, Va., and Dallas.