Editor’s note: Local Tech Wire features a profile each business day of a venture capital or investment firm operating in the Carolinas and Georgia. LTW has now featured more than 60 firms. Matthew Burns, Worth Civils and Daniel Pearson have written the series. The financial institution most identified with technology investing and lending, Silicon Valley Bank was founded almost 20 years ago to provide services to fast-growth and middle-market companies in the technology and life science industries.

The Santa Clara, Calif.-based bank, with offices nationwide including Atlanta and Durham, has $4 billion in assets and has backed more than 30,000 entrepreneurial companies over the years.

In addition to providing cash management services and loans to emerging companies (often in exchange for convertible warrants), SVB regularly hosts events that match young entrepreneurs with angel investors and seed funds.

The bank also has its own venture subsidiary to invest in clients and provide strategic financial advice. The bank’s regional clients include HAHT Commerce, Nitronex, Pinpoint Networks, Movaz Networks, NetEffect and Novoste.

SVB’s close ties to the technology industry have led it on the roller-coaster that venture firms and startups have seen in recent years. Net income was cut almost in half last year from 2000 as deposits fell by 30 percent.

Here’s the skinny:

Featured firm: Silicon Valley Bank

Mailing address: Atlanta office – 3343 Peachtree Road, N.E., East Tower, Suite 312, Atlanta, GA 30326
Durham office – 2530 Meridian Parkway, 3rd Floor, Durham, NC 27713

Phone number: Atlanta office – (404) 261-5525
Durham office – (919) 806-4352

Web site:
www.svb.com

Management Team:

Ken Wilcox, CEO
Alan Spurgin, Senior Vice President and Manager (Atlanta)
Andrew Rico, Senior Vice President and Manager (Durham)

Focus of firm: Commercial banking organization based in Santa Clara, Calif., but with offices around the country, including Atlanta and Durham, targeted at technology and life sciences companies.

Size of current fund: Bank has assets of $4 billion

Money under management: Not applicable

Names of companies funded over the last five years:

AuctionRover.com, Inc.
Avesair, Inc.
Coventor, Inc.
Encelle, Inc.
Engineous Software, Inc.
Ganymede Software, Inc.
HAHT Commerce, Inc.
Hatteras Networks, Inc.
LiveWire Logic, Inc.
MicroMass Communications, Inc.
Mirador Systems, Inc.
Nitronex Corporation
OptXCon, Inc.
Orologic, Inc.
Pinpoint Networks, Inc.
Raindrop Geomagic, Inc.
Relativity Technologies, Inc.
RF Micro Devices, Inc.
TriPath Imaging, Inc.
WindWire, Inc.
Verian Technologies, Inc.

How many new deals do you expect to fund in 2002: 10 to 15

In what size range: $250,000 to $10 million

Sweet Spot (types of deals, stage of the company): Technology and life sciences companies, primarily venture-backed but also public companies and some boot-strapped
companies.

Most important attributes for companies seeking funding: Strong management team, solid intellectual property position and strong investor support.

What differentiates you: SVB is the only bank in the country exclusively focused on technology and life sciences companies and has been for 20 years. We therefore have a unique understanding of the investor-entrepreneur relationship and strong industry contacts.

Thursday’s profile: Veritas

Previous profiles can be founding by clicking on Search and selecting the Venture Watch categories. Set data parameters between Feb. 1 and today.