The Santa Clara, CA-based Silicon Valley Bank celebrated the first anniversary of its Indian operations by throwing a great dinner and networking event at its Bangalore office. From Silicon Valley VCs to wannabee tech entrepreneurs, all were present in strength.
SVB India Advisors Pvt. Ltd., the Bank's second international subsidiary, has acheived a lot in these 12 short months. With some dozen VCs setting up shop at SVB's Bangalore office, the firm has managed to ensure that the series of US VC delegations that it led (along with TiE) in 2004, translated into some real action. While some of the VCs - like Battery Ventures and Bessemer Venture Partners - have already made their first direct investments in India, more deal-making is set to follow.
SVB, with its special cross-border strengths and its Silicon Valley style alacrity, has made its mark as a valuable new player in the Indian VC-entrepreneur ecosystem.
Arun Natarajan is the Founder of Venture Intelligence India, which tracks venture capital activity in India and Indian-founded companies worldwide. View sample issues of TSJ Media's Venture Intelligence India newsletters and reports.