In continuation of our popular ‘Breakfast with Friends’ seminar series,  Friend LLP were pleased to welcome Oscar Jazdowski from Silicon Valley Bank (“SVB”) on 11 May to discuss their ‘Game Changing Approach to Technology Financing’.

(l-r) Elly Gilbert (SVB), Mark Scotter (Friend LLP), Oscar Jazdowski (SVB) and Georgina Clark (Friend LLP)

About SVB

Founded in the U.S. in 1983, SVB began as an alternative bank for technology start up companies.  Supporting entrepreneurs shortly after they received a first round of venture-capital investment, SVB offered a buffer of venture debt and commercial banking services in order to help allow the fledgling companies to develop.

Today, SVB has worked with over 30,000 technology companies across the globe and have an impressive client portfolio including; Zoopla, Wonga, OpenCloud, Digg and Twitter.

Globally, SVB offers a full range of banking services tailored to the needs of technology and venture capital firms:, Commercial Banking, including credit, global treasury management and investment services , Funds Management and Valuations, Benchmarking & Capitalisation Table Management.

Sector focus

Working exclusively in the technology, life science and venture capital industries, SVB offers services and financing to all sizes of company, and emphasises support on companies that have venture-capital backing, particularly if they are in early-stage growth. SVB then works with the companies as they grow and throughout their lifecycle.

As Oscar explained, SVB is uniquely placed to support technology companies as “losses don’t scare [them]”. For the first ten years that SVB were supporting start up companies, many had little or no revenue. The support of venture capital and SVB funding allowed the companies the breathing space they needed to develop unique and innovative products. As well as financial support, SVB also offer their clients the expert knowledge they’ve gained through thirty years of experience in the sector.

Silicon Valley Bank is already lending money to UK companies and entrepreneurs and plans to roll out a full range of FSA licensed services for corporate customers at the beginning of 2012, pending approval.

The UK technology market

Having been educated in the UK before moving to America, Oscar has been very impressed by the rapid development of the UK technology market over the last few years. In his experience, one of the most distinguishing features of industry in this country is the focus on innovation.

Our experience in the technology sector

Friend LLP’s developing relationship with Silicon Valley Bank comes at an exciting time for our firm as in April 2011 we launched a specialist Technology, Media and Entertainment division with the aim of advising these specialist industry sectors that are often poorly understood by the majority of professional advisors.

What sets us apart from other accountancy firms is not just our determination to provide sound and commercially minded advice to businesses operating in these sectors, but that we have actual experience in the day to day operation of businesses in these sectors through our associated company Friend Media Technology Systems Limited (Friend MTS).

Friend MTS provides a variety of software-based services to companies (global and national) that operate in the digital media, security, marketing and entertainment industries.  Our close affiliation with Friend MTS means that a high percentage of our employees have a cross-section of skills and understand how these companies and these sectors work.

More information about our Technology, Media and Entertainment division can be found here.

Our thanks go to Oscar Jazdowski for a compelling introduction to Silicon Valley Bank. More information about Silicon Valley Bank can be found via their website: www.svb.com/UK/