1983
The concept for SVB was envisioned by Silicon Valley businessmen Bill Biggerstaff and Robert Medearis over a game of poker. The bank opened its first office in San Jose in 1983 to provide innovative banking and credit services to support tech startups.
1987
SVB went public and began trading stock on Nasdaq under the symbol SIVB, and completed its IPO in 1988 by raising $6 million in equity.
1992
SVB diversified into the high-risk real estate loan business, which reportedly amounted to 50% of its portfolio by the early 1990s, leading to the bank's first net loss.
1996
The rise of computer technology companies in the U.S. led to an inflow of clients seeking lending from the bank. By 1996, SVB reportedly had around 2,000 clients, including Cisco Systems and Bay Networks. The bank expanded across the U.S.
2002
SVB entered the private banking business, by launching broker-dealer subsidiary SVB Securities; acquiring Woodside Asset Management, personal investment advisor.
2004
The bank announced an international expansion drive in 2004, with new operations in Bangalore and London.
2008-2009
Denne historien er fra April 2023-utgaven av Forbes Middle East - English.
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Denne historien er fra April 2023-utgaven av Forbes Middle East - English.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
CONSCIOUS INVESTING
VentureSouq's cofounders and general partners, Suneel Gokhale, Sonia Gokhale, Tammer Qaddumi, and Sonia Weymuller, are actively reshaping the investment landscape. With $250 million in assets under management, the thematic fund manager is forging a distinct path, with a focus on fintech and climate tech.
VENTURING BEYOND CAPITAL
In just seven years, Shane Shin and Mahmoud Adi, Founding Partners of Shoroog Partners, have turned their startup into one of the Middle East’s biggest startup investors, with 500 million in assets under management. With ambitions far beyond venture capital, they’re now expanding further into credit markets and looking at where they can be pioneers.
ROCK STAR
WHAT IF THE REVOLUTIONARY TECHNIQUES DEVELOPED TO FRACK ROCKS FOR OIL COULD BE MODIFIED TO UNLOCK LIMITLESS CLEAN ENERGY FROM THE HEAT OF THE EARTH’S CRUST?
Breaking New Territory
Moroccan-Canadian singer and 30 Under 30 alumna Faouzia is having her biggest year yet and enjoying newfound fame in China. As her stardom rises, she’s now exploring new projects and possibilities.
5 Biggest MENA IPOs of 2024
This year has been pivotal for MENA, marked by a series of high-profile IPOs that drew interest from local and international investors. Here’s a look at the five biggest IPOs that defined 2024.
TOP VENTURE CAPITALISTS
MENA has emerged as a vibrant hub for innovation and entrepreneurship, fostering a dynamic landscape for startups.
Top Funding Rounds in MENA 2024
This year has seen some of MENA’s largest-ever funding rounds. Here’s a look at five standout deals. Only startups that were founded less than 10 years ago and had disclosed their funding rounds as of November 27, 2024, were considered.
Key Insights From MENA's Funding Landscape
MENA saw a mixed performance in the first nine months of 2024.
A Look Ahead: Travel Trends Shaping 2025
What will drive wanderlust in 2025? Here’s a look at the key travel trends set to dominate the year.
Codebreakers
Backed by 200 million in funding, 28-year-old SCOTT WU and his team of competitive coders at Cognition are building an Al tool that can program entirely on its own, potentially disintegrating the whole industry. Is its 2 billion valuation the result of a true breakthrough, or just more Al hype?
