By Lawrence White
LONDON (Reuters) – Silicon Valley Financial institution goals to rent round 150 employees in Europe this yr, primarily in Britain, because it seems to be to capitalise on frenzied demand for funding in tech and innovation corporations, its head for the area advised Reuters.
The Santa Clara, California primarily based lender is recruiting for bankers who can assist it join primarily U.S. buyers with tech start-ups in markets corresponding to Britain, Germany and Israel, stated Erin Platts, President of the financial institution’s UK department.
“We have discovered the sheer abundance of capital domestically and in Europe chasing innovation companies, coupled with the standard of corporations we’re seeing, means there’s simply large demand going into the sector,” she stated.
The financial institution can also be recruiting assist employees in finance, threat and compliance capabilities because it converts its UK department right into a full subsidiary, she added.
The hiring spree stands in distinction to many British-based rivals which might be chopping prices and trimming headcount, and follows on from an analogous recruiting drive final yr additionally reported by Reuters.
Platt stated the financial institution is comfy with its hiring plans regardless of considerations amongst some buyers about sky-high valuations within the sector.
“The excessive ranges of liquidity within the sector goes to masks some mediocre efficiency amongst some corporations within the subsequent 12-24 months… there’ll undoubtedly be some bumps and bruises however the dimension of the market is huge and it may cope,” she stated.
The financial institution specialises in serving to tech corporations with early stage funding, offering capital for a variety of such corporations which have listed in latest months together with Trustpilot, Made.com and Sensible.
The itemizing of funds firm Sensible earlier this month at a valuation of $11 billion made it London’s largest ever tech itemizing and capped a record-breaking run for such fundraising in Britain.
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