On March 14-16, hundreds of corporate venture capital leaders met at the Global Corporate Venturing and Innovation Summit in Monterey, California, to discuss the aftermath of Silicon Valley Bank’s downfall. The following joint statement was prepared by the Global Corporate Venturing Leadership Society Advisory Board and supported by the following signatories:
Silicon Valley Bank has been a trusted and long-time partner to the corporate venture capital (CVC) industry and our founders. For 40 years, it has been an important platform that played a pivotal role in serving the startup community and supporting the innovation economy in the US and globally.
The events that unfolded over the past week have been deeply disappointing and concerning. We thank the people at SVB, past and present, who have helped support the CVC ecosystem.
We welcome the statement by Tim Mayopoulos, the new CEO of Silicon Valley Bridge Bank, N.A., that they are doing everything they can to rebuild, win back our confidence, and will continue supporting the innovation economy. We as CVCs are open to Silicon Valley Bridge Bank, N.A. being used as part of a secure deposit and lending diversification strategy.
For further signatories contact admin
Brian Armstrong, Managing Director, Ensemble Innovation Ventures
Paul Asel, Co-Founder and Partner, NGP Capital, Nokia
Marcus Behrendt, Managing Director, BMW i Ventures
Amy Burr, President, JetBlue Ventures
Kevin Chen, Partner, Lam Capital, Lam Research
Henry Chung, Senior Vice President, Head of Hyundai Cradle Silicon Valley
Michelle Gonzalez, Global Head of M12, Microsoft
Taha Syed Hussain, Venture Partner –DK Innovation, Delek US
Owen Lozman, Managing Director, M Ventures, Merck Group
Jay Onda, Director, Marubeni Ventures
Alexander Petrofski, CEO, Volvo Cars Tech Fund
Dina Routhier, President, Stanley Ventures, Stanley Black & Decker
Nicolas Sauvage, President, TDK Ventures
Tony (Tianyi) Sun, Director of Corporate Venture Capital, GC Ventures America, PTTGC
Mitchell Yun, Head of Office, Mobis Ventures, Hyundai