Silvergate and EJF Capital Form Joint Fintech Venture Fund
December 16 2021 - 9:00AM
Business Wire
The EJF Silvergate Ventures Fund is focused on
early-stage fintech companies in digital currency, payments,
banking and specialty finance sectors
Silvergate Capital Corporation (“Silvergate”) (NYSE: SI), the
leading provider of innovative financial infrastructure solutions
to the digital currency industry, and EJF Capital LLC (“EJF”), a
global institutional alternative asset management firm, today
announced the launch of the EJF Silvergate Ventures Fund (the
“Fund”), a joint investment vehicle focused on early-stage fintech
companies, digital currencies and payments, as well as banking and
specialty finance technology.
The EJF Silvergate Ventures Fund will seek to invest in
early-stage operating companies, which are developing technologies
that are poised for broad adoption in finance, such as real-time
payments, digital assets, banking-as-a-service, regtech, and
AI-based credit decisioning. The Fund will leverage Silvergate’s
expertise and success in the digital currency industry and EJF’s
seasoned, global financial services and fintech investment team,
relationships and expertise across the banking, regulatory and
financial services sector to deliver credible, strategic guidance
and capital to early-stage start-ups.
“We’re thrilled to participate in this joint venture with EJF.
Their investment strategy and financial services industry expertise
align with our mission to create a financial system that is safe,
fair and rewarding for everyone,” said Alan Lane, Silvergate CEO.
“At Silvergate, we’ve had the privilege to serve entrepreneurs in
niche industries for over 20 years, which ultimately led us to bank
digital currency industry pioneers. We believe in entrepreneurs and
their power to help the digital currency industry reach its full
potential.”
“Silvergate and EJF recognize the urgent need for capital to
support entrepreneurs who will modernize the existing financial
system and reshape global commerce,” said EJF co-Founder and
co-Chief Executive Officer, Neal Wilson. “Through the EJF
Silvergate Ventures Fund, we can provide a truly dynamic venture
capital experience rooted in collaboration, passion and a strong
belief in the entrepreneurial spirit.”
“The financial industry is undergoing a transformation
facilitated by the growth of digital currency and the adoption of
blockchain enabled technologies,” said Jonathan Bresler, Partner
and Managing Director at EJF Capital. “As this ecosystem rapidly
evolves into a subset of financial services with operational
utility, significant investments will be required to build the
infrastructure necessary to bridge the gap between the legacy
financial system and the financial system of the future. We are
delighted to partner with Silvergate and believe that their digital
currency and regulatory expertise will be highly complementary to
our investment process.”
For more information on EJF Silvergate Ventures Fund, visit
ejfsilvergateventures.com.
About Silvergate
Silvergate Capital Corporation (NYSE: SI) is the leading
provider of innovative financial infrastructure solutions and
services for the growing digital currency industry. The Company’s
real-time payments platform, known as the Silvergate Exchange
Network, is at the heart of its customer-centric suite of payments,
lending and funding solutions serving an expanding class of digital
currency companies and investors around the world. Silvergate is
enabling the rapid growth of digital currency markets and reshaping
global commerce for a digital currency future.
About EJF Capital LLC
EJF Capital LLC is a global alternative asset management firm
headquartered outside of Washington, D.C. with offices in London,
England and Shanghai, China. As of September 30, 2021, EJF manages
approximately $5.7 billion across a diverse group of alternative
asset strategies. EJF has approximately 75 employees, including a
seasoned investment team of approximately 30 professionals with
significant experience in banks, financials, fintech, and real
estate. The firm was founded in 2005 by Manny Friedman and Neal
Wilson and has focused on regulatory event-driven investment themes
since inception.
Forward-Looking Statements
Statements in this press release may constitute forward-looking
statements within the meaning of the Securities Exchange Act of
1934, as amended. Statements relating to future events or our
future performance or financial condition are not facts, but are
based on current expectations, estimates and assumptions by
management. These statements are not representations regarding or
guaranties of future performance, condition or results and involve
various risks and uncertainties. Actual results and conditions may
differ materially from those in the forward-looking statements as a
result of many factors. For information about other important
factors that could cause actual results to differ materially from
those discussed in the forward-looking statements contained in this
release, please refer to the Company's public reports filed with
the U.S. Securities and Exchange Commission. The Company undertakes
no obligation to update any forward-looking statement to reflect
events or circumstances that arise after the date such statements
are made.
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version on businesswire.com: https://www.businesswire.com/news/home/20211216005372/en/
Investor Relations: Hunter Stenback (858) 200-3782
investors@silvergate.com
Media: For EJF Capital: Jonathan Gasthalter/Nathaniel
Garnick Gasthalter & Co. (212) 257-4170
For Silvergate: Conor Shea press@silvergate.com
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