Silicon Valley Bank announced a permanent Miami focus on Florida's dynamic innovation sector.
SVB's Miami team is focused on early-stage startups, commercial banking, private banking and wealth management to technology and life science companies of all sizes and their investors.
The team is actively hiring and will be located in Miami's Brickell neighborhood.
"SVB is a strong supporter of Papa, with a deep understanding of our needs as a high-growth company," said Andrew Parker, founder and CEO of Papa, a Miami-based company that provides a curated platform of companionship and support for older adults and families. "I'm glad for their expansion into Miami, which is a great place to start and scale a business, and I'm excited to see how they'll further the growth and success of the local innovation economy."
Investors deployed $1.5B in venture capital across 200 deals in Florida in the first half of 2021, as SVB works with hundreds of Florida-based technology and life science companies and investors, such as oncology-focused health technology company Carevive Systems, cybersecurity company Lumu, investment firm Medina Capital, MedTech firm Neocis, and smart city, small cell and smart grid platform provider Ubicquia.
"I am thrilled to welcome Silicon Valley Bank and its expanded presence to Miami," said Miami Mayor Francis Suarez. "Miami has the potential to become a leading innovation hub and SVB's presence will help accelerate the success of our local technology and life science companies, from startups to scaled businesses, and their investors."