Silicon Valley Bank Provides (Further) Financing To EnQii
Adrian J Cotterill, Editor-in-Chief
Looks like investors are falling over themselves to give money to EnQii !!! Here we see the Silicon Valley Bank, a leading financial institution serving clients in the technology and life sciences industries, join the already impressive consortium of Amadeus, Wellington and Ithmaar – it was only back in September 2008 if you remember that EnQii raised USD 18 million from Amadeus and Wellington !!
Andrew Tsao of Silicon Valley Bank’s affiliate in London told us “The EnQii team has great respect in its industry and is well positioned to lead the fast growing digital signage solutions market,”
He added “We are pleased to be able to provide additional financial resources for EnQii to continue to grow and expand its product offerings.”
EnQii have secured a USD 3 million financing facility from Silicon Valley Bank. This brings the funding raised by EnQii in the last few months to over USD 20m. EnQii, we are told, will use the funds to pursue strategic opportunities and continue to develop innovative products for the digital out of home market.
Ajay Chowdhury, EnQii’s CEO told us “Silicon Valley Bank recognizes the enormous potential that our solution offers and has chosen to invest in our future with this financing and help us continue our rapid growth. We now have a US-based firm joining our consortium and this will help EnQii achieve its vision and ensure ample capital reserves to capitalise on opportunities afforded by today’s economic environment.”
About Silicon Valley Bank
Silicon Valley Bank is the premier commercial bank for companies in the technology, life science, venture capital/private equity and premium wine industries. SVBprovides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients’ success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 U.S. offices and international operations in China, India, Israel and the United Kingdom. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services.
SVB Financial Group UK Ltd. is a subsidiary of SVB Financial Group and an affiliate of Silicon Valley Bank. SVB Financial Group UK Ltd. is registered in England and Wales at 34 Dover Street, London, W1S 4NG, U.K. under No. 5572575 and is authorised and regulated by the Financial Services Authority.