TLDR:
- Banc of California launches Build@Banc program targeting startups in early stages
- The program aims to support entrepreneurs from initial investments to IPOs
Banc of California recently introduced a new service called Build@Banc, specifically designed to attract startups in their seed and early-stage funding rounds. The program, led by Sean Lynden, President of Venture Banking, aims to support entrepreneurs throughout their journey, from initial investments to initial public offerings. The launch comes in the wake of the collapse of Silicon Valley Bank, prompting increased scrutiny in the financial industry on startups and venture capital firms.
Financial institutions like Citi Ventures and Capitol One Ventures have adjusted their investment criteria to focus on economic resiliency and strategic advantages, respectively, in the startups they fund. Despite valuation corrections following interest rate hikes, Banc of California continues to provide bridge capital to startups, offering liquidity between capital raises. Chief Executive Jared Wolff has expressed the bank’s commitment to supporting startups through various stages of growth.
Overall, Banc of California’s Build@Banc program represents a strategic move to tap into the startup ecosystem and provide essential financial support and resources to emerging entrepreneurs.
