Security California Bancorp in Riverside is working with a venture-capital firm to fund high-tech businesses.
The $488 million-asset company will partner with Grayhawk Capital in Phoenix, which focuses on early stage tech companies in the southwest United States, the companies announced Wednesday. Security California will be a limited partner in the Grayhawk Venture Fund II; further details were not immediately provided.
Grayhawk is a registered Small Business Investment Corp., which allows it to use private and federal money to invest in small businesses.
"Our involvement makes us the first inland Southern California bank to offer our region's high technology startups access to this kind of investment," James Robinson, Security California's chairman and chief executive, said in a press release. "It is part of our strategy to support high-technology economic development and job creation in the Inland Empire."