Tag: banc of california

Brentwood-based Banc of California last month launched a new service targeting startups in early stages.

Dubbed Build@Banc, this program looks to lure startups at seed and early-stage funding rounds.

The details remain scant, but the bank said this program will aid entrepreneurs from initial investments to initial public offerings.

“We want companies to start with us, stay with us and grow with us – from inception to IPO and beyond,” said Sean Lynden, president of venture banking at Banc of California.

Lynden led Pacwest’s expansive venture banking division prior to its merger with Banc of California last year. Its portfolio of high-growth startups included Picsart, Navitas Semiconductor and MomentFeed.

Banc of California’s service launch comes after the broader financial industry heightened its scrutiny on both startups and venture capital firms following the dramatic collapse of Silicon Valley Bank last year.

Financial institutions with venture capital arms have continued to fund startups, but investment criteria now weigh the economic resiliency of innovations in addition to disruption capability.

Citi Ventures, one of the largest players in corporate venture capital, has homed in on cash flow, burn rates and paths to profitability in its investment thesis.

Capitol One Ventures is now focused on startups that can offer strategic advantages to Capitol One’s other business lines — a push towards practical over unconventional risk.

Jared Wolff, chief executive Banc of California, previously said the valuation correction following sharp interest rate hikes hasn’t necessarily hurt the bank’s business.

Banc of California provides bridge capital – essentially loans between rounds of capital raises that offer liquidity as companies meet with investors.