SVB Financial Group, the Silicon Valley banking company that specializes in lending to venture-capital companies, said Monday that it had expanded its Asian presence by opening a nonbank venture lending operation in India.
The Santa Clara, Calif., company's SVB India Finance Pvt. Ltd. in Mumbai offers debt capital to domestic, venture-backed, early and mid-stage, high-growth companies in India.
For five years, SVB Financial has steadily expanded its international business, with offices in China, Israel, and the United Kingdom. In India, it opened offices in Bangalore in 2004 and Mumbai in 2007.
The venture lending office complements SVB's India-focused co-investment fund, SVB India Capital Partners, and its cross-border consulting arm, SVB India Advisors Pvt. Ltd., the company said.
Managing director Ajay Hattangdi, a banking and venture lending veteran in India, is to manage lending for SVB India Finance in Mumbai. Mr. Lilani is to be the firm's CEO.