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Top related persons:
Carlo Allegri - 1 We've - 1 David Sabow - 1 Manya Saini - 1 Saeed Azhar - 1 Shinjini Ganguli - 1 Tomasz Janowski - 1 Chris Wattie - 1
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Search resuls for: "Innovation Banking"


5 mentions found


☆ HSBC expands venture debt offering to early-stage startups in US
  + stars: | 2023-08-24 | by ( ) www.reuters.com   time to read: +2 min
An HSBC bank is pictured during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., October 19, 2020. REUTERS/Carlo Allegri Acquire Licensing RightsAug 24 (Reuters) - HSBC (HSBA.L) said on Thursday it has expanded venture debt offering to early-stage startups through its U.S. innovation banking division. Debt has become an increasingly popular option for startups looking for cash in a tough financing market. HSBC hired 42 bankers from Silicon Valley Bank (SVB), which collapsed in March. "We've been working to mobilize the broader HSBC innovation banking platform around to really be able to support companies from Series A, all the way through their journey," said David Sabow, head of technology and healthcare at the bank's U.S. innovation banking unit.
Persons: Carlo Allegri, We've, David Sabow, Manya Saini, Saeed Azhar, Shinjini Ganguli, Tomasz Janowski Organizations: HSBC, REUTERS, Silicon Valley Bank, Federal Reserve, KPMG, Thomson Locations: Manhattan, New York City , New York, U.S, London, Silicon, United States, Israel, Hong Kong, Bengaluru, New York
☆ National Bank to buy SVB's Canada loan book to boost tech sector lending
  + stars: | 2023-08-01 | by ( Nivedita Balu Jaiveer Shekhawat | Nivedita Balu | Jaiveer Shekhawat | ) www.reuters.com   time to read: +2 min
The National Bank of Canada logo is seen outside of a branch in Ottawa, Ontario, Canada, February 14, 2019. National Bank said in a statement it will acquire the C$1 billion ($752 million) loan portfolio made up of technology, life science and global fund banking sectors. National Bank already has made a number of bets in the tech space in Canada investing in fintech firms such as KOHO, Synctera and Flinks over the years. Veritas Investment Research analyst Nigel D'Souza said the deal does not restrict National Bank from acquiring Laurentian Bank (LB.TO), but that deal was now less likely. "We continue to view National Bank as the best fit among the Big Six banks for Laurentian," D'Souza said.
Persons: Chris Wattie, Michael Denham, Denham, Tuyen Vo, Nigel D'Souza, D'Souza, Jaiveer Singh, Will Dunham, Krishna Chandra Eluri, Shilpi Majumdar Organizations: National Bank of Canada, REUTERS, National Bank, National Bank's Technology, Innovation Banking, Bank, Veritas Investment Research, Laurentian Bank, Big, Thomson Locations: Ottawa , Ontario, Canada, U.S, Silicon, Bengaluru
☆ HSBC builds innovation division from the bones of collapsed SVB UK
  + stars: | 2023-06-12 | by ( Ruxandra Iordache | ) www.cnbc.com   time to read: +1 min
U.K. banking titan HSBC unveiled a new HSBC Innovation Banking unit Monday, as it seeks to push into the technology sector following its eleventh-hour rescue of the U.K. subsidiary of failed Silicon Valley Bank (SVB) in March. HSBC acquired the London-based SVB unit for £1 after its parent company suffered a run on its assets fueled by customer fears over the bank's solvency. SVB was one of several U.S. and European lenders that met their downfall earlier this year as broader turmoil rattled the global banking sector. The U.K. government and Bank of England facilitated the purchase in a bid to protect deposits, as Britain separately struggles to retain its position as an international tech capital. Some have questioned whether traditional financial institution HSBC is well placed to take over the legacy of SVB and finance tech-focused startups and small businesses.
Persons: SVB, Ian Stuart, CNBC's Arjun Kharpal Organizations: HSBC, HSBC Innovation Banking, Bank, Bank of England Locations: London, Britain
☆ HSBC to rename British arm of Silicon Valley Bank next month- Sky News
  + stars: | 2023-05-29 | by ( ) www.reuters.com   time to read: +1 min
May 29 (Reuters) - HSBC (HSBA.L) is set to announce next month that the UK arm of Silicon Valley Bank will be renamed HSBC Innovation Banking, Sky News reported on Monday. The British government and the Bank of England facilitated a private sale of SVB UK to HSBC in March, in a move which would protect deposits without taxpayer support. Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis. SVB is undergoing bankruptcy proceedings after California's regulators shuttered Silicon Valley Bank and appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The regulators then agreed to backstop a deal for regional lender First Citizens BancShares (FCNCA.O) to acquire Silicon Valley Bank.
☆ In a tech downturn, breakout stars of venture capital are going abroad to hunt for funding. Here's why.
  + stars: | 2022-11-14 | by ( Melia Russell | ) www.businessinsider.com   time to read: +9 min
The flow of capital motivated more investors to split from established firms and raise their own funds, but it hasn't always been easy. For years they've gone abroad to raise capital from limited partners, mostly wealthy individuals and family offices. This isn't new territory for international investors. He continues to use his personal wealth to back startups and venture funds mostly stateside, including Sequoia Capital, Andreessen Horowitz, and Brianne Kimmel's Worklife Ventures. Even those with ties to international investors may struggle to raise funds as fears of a global recession escalate.
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