Silicon Valley Bank expands to Beijing
Silicon Valley Bank is expanding its footprint in China by establishing a presence in Beijing.
The Santa Clara, Calif., bank operates a joint venture in China with Shanghai Development Bank Co. Ltd. The joint venture opened its first branch in Shanghai in 2012.
The second branch, which has approximately 14 employees, is in Beijing’s Chaoyang District, Silicon Valley Bank said Wednesday.
The $44 billion-asset bank has close ties to the U.S. technology sector, and its joint venture in China offers banking services for companies in industries such as technology, private equity and venture capital.
“The innovation sector is global,” Silicon Valley Bank CEO Greg Becker said in a press release. “High-growth, technology-focused companies that create jobs and economic opportunity expand overseas early in their lives and require partners that can help them navigate internationally.”