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Stifel Launches Venture Banking & Lending Group to Serve U.S. Innovation Ecosystem

July 22, 2019, 09:00 AM
Filed Under: New Venture

Stifel Financial Corp. announced the successful launch of a venture banking and lending business, dedicated to providing debt capital financing and commercial banking solutions to growth companies and their backers. A group of industry veterans led by Brad Ellis and Nathaniel Stone has joined the firm to spearhead this new effort, leveraging the firm’s $17 billion depository and breadth of the overall Stifel platform.

With a national coverage focus, the Stifel Venture Banking and Lending Group is targeting early stage start-ups through mature growth companies, with specific focus on the technology, healthcare, and life sciences industries. Stifel offers senior secured loans up to $40 million for working capital and growth capital needs, with the ability to syndicate larger opportunities.

“This represents yet another significant step in the build-out of our banking services, which benefit from the capacity and diversification of our $17 billion bank balance sheet,” said Chris Reichert, CEO of Stifel Bank & Trust. “We view Venture Banking and Lending as an attractive loan and deposit growth vehicle and we’re excited to be in the market with these new capabilities.”

“Venture clients have sophisticated needs that often require access to a variety of specialty teams, especially as they grow,” added Thom Weisel, Co-Chairman of the Board of Stifel. “We see this as an incredibly strategic business, as it connects our lending and banking capabilities to the formidable technology, healthcare, and financial sponsor Investment Banking businesses throughout Stifel.”

Stifel is also focused on fund-level banking and lending for private investment firms of all types including private equity, venture capital, private credit, real estate, fund of funds, and others. The Fund Banking group offers capital call/subscription lines of credit in excess of $100 million, treasury management tools, and high touch relationship management with a single point of contact. This business is already working strategically with Stifel’s investment bank, wealth management platform, and the fund placement services provided by Stifel-owned Eaton Partners.

Based in New York City, Managing Director Brad Ellis and Director Nathaniel Stone have joined Stifel as Co-Founders of the Venture Banking and Lending Group.

Brad Ellis brings 13 years of experience banking and lending to businesses and investment funds in the technology and life sciences industries. Most recently, he was Managing Director at Square 1 Bank with responsibility for the firm’s New York region, including all lending and portfolio management operations.

Nathaniel Stone has spent his entire career working with technology businesses in advisory, investing and operational capacities. He was most recently a Senior Lender at Square 1 Bank, where he led sourcing, underwriting, and relationship management for the New York region.

“Competitors can’t match the breadth and sophistication of the Stifel offering to venture clients,” noted Brad Ellis.  “Having the ability to tap into the broader Stifel network of capabilities and institutional services, like investment banking and fund placement, is critical and a true differentiator. I am excited to launch this effort at Stifel, which embraces the entrepreneurial spirit, continuous innovation, and responsible financial management.”

Rounding out the Stifel Venture Banking and Lending Group leadership team are:

  • Managing Director Philip Gager, who heads up the Healthcare and Life Sciences team out of Boston, a role he previously held at Square 1 Bank
  • Director Alan Faulkner, who is responsible for coverage of the Southeastern United States
  • Director Mike Breaux, who leads the Fund Banking effort
  • Senior Vice President Jim D’Elisa, who focuses on the treasury and cash management needs of commercial customers.

“We have already successfully executed several transactions and I couldn’t be more pleased with the success of the Venture Banking and Lending team out of the gate,” concluded Reichert.

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