Square 1 Financial, Inc. (NASDAQ: SQBK), the holding company for Square 1 Bank, and venture capital firm Industry Ventures teamed up to serve the venture community.
The two organizations will create a non-exclusive referral program among them, while Industry Ventures will assume the daily management of Square 1 Venture 1, L.P., a 2008-vintage venture capital fund-of-funds.
The partnership with Square 1 complements Industry Ventures Partnership Holdings’ hybrid strategy of investing in early-stage venture funds, acquiring secondary partnership interests and co-investing with venture funds in their portfolio companies. Partnership Holdings provides institutional investors with a focused and diversified opportunity to invest in capital-efficient, early stage companies.
Founded in 2000, the San Francisco-based firm invests directly in venture backed companies through secondaries and co-investments as well as indirectly through LP interest secondaries and primary commitments to early stage venture funds.
FinSMEs
02/05/2014