Silicon Valley Bank UK provides commercial banking services, expertise and insights to the technology, life science and healthcare, private equity and venture capital industries across the UK & EMEA
Silicon Valley Bank opened its first location outside the US in London in 2007. (Credit: PA Archive/Yahoo)
Silicon Valley Bank UK, the bank of the world’s most innovative companies and investors, today announced that it has expanded its Nordic footprint and established a representative office in Stockholm, Sweden. This will support the needs of Swedish innovation businesses and their investors within the technology and life science sectors.
Silicon Valley Bank UK has chosen to establish a presence in Sweden, building on the strong ecosystem for entrepreneurs and founders. Sweden has a thriving venture and investment community with exceptional talent and an innovation sector that has fundraised more than €12bn over the past three years, with over €5bn fundraised in 2022 to date according to data from Dealroom.
Silicon Valley Bank UK’s Nordic expansion into Sweden builds on the growth of its representative office in Denmark and will further accelerate plans to continue to deploy significant levels of capital through debt financing to Sweden’s innovation businesses, as well as venture capital and private equity funds across the country and wider Nordic region.
Silicon Valley Bank UK has hired Maria Ljungberg to be the country Director to build out its lending offering in Sweden, reporting into Nordic regional Managing Director, Sebastian Penn who is responsible for growing the bank’s presence and offering across the Nordics. Ljungberg was previously the CEO of Propel Capital and has extensive experience supporting startup founders and building investor networks. Her work experience also encompasses many years with top accelerator STING and buyout firm IK Partners.
Erin Platts, CEO of Silicon Valley Bank UK and Head of EMEA, said: “Our new presence in Sweden is a natural expansion of our commitment to the Nordics and will make Sweden our sixth location across EMEA, and an important part of our future growth strategy and vision for Silicon Valley Bank in EMEA.”
Simon Bumfrey, Head of Relationship Banking Europe added: “I’m thrilled that Maria has joined us to spearhead our efforts in Sweden working closely with Sebastian Penn who leads our Nordics region. Her experience and network will be invaluable in helping to build out our presence in Sweden so that we can better serve founders and investors on a direct and personal level. We’re excited to officially join the Swedish innovation ecosystem in bolstering our Nordic offering and look forward to providing our expertise in helping to finance and grow Sweden’s innovation and life science businesses.”
Maria Ljungberg, Director for Sweden, Silicon Valley Bank said: “I am delighted to join Silicon Valley Bank to lead our expansion within Sweden, supporting the amazing ecosystem of innovators and investors. I believe Silicon Valley Bank, with its global brand, network, and expanding platform has a lot to offer the Swedish market. It is a financial partner that understands the needs of innovation businesses and helps fuel their growth at every stage. I’m excited to build and grow our presence to make Silicon Valley Bank the go-to partner for the Swedish innovators, investors, and ecosystem influencers.”
Source: Company Press Release