“The Alliance for Southern California Innovation partners with Pacific Western Bank to support early stage startups in the region”

Creating Gateways to Venture Capital for SoCal Entrepreneurs

LOS ANGELES, September 19, 2022 /PRNewswire/ — The SoCal Innovation Alliance (“The Alliance”) is proud to announce that it has officially entered into a multi-year agreement with Western Bank of the Pacific to be the new main sponsor of the SoCal Venture Pipeline (SVP) Program which connects promising start-ups with venture capital to improve access to institutional capital in the SoCal region. Entering its second year, the SVP program is completely free to participating startups and investors. The Alliance receives no fees or takes an equity stake through this generous subscription from Pacific Western Bank as well as continued supporters Wilson Sonsini and KPPB LLP. Increasing access to capital for innovative companies in the vast SoCal region is central to the Alliance’s mission and this particular program is a key ingredient.

Andy Wilsonexecutive director of the Alliance, said, “We are so lucky in SoCal to have so many amazing founders creating great startups in this massive and diverse region. However, access to critical start-up capital is not equally available to everyone. We have great partners like Pacific Western Bank who share our commitment to the region to deliver high-impact programs like the SoCal Venture Pipeline.”

“We are thrilled to partner with the Alliance on the important mission of the SoCal Venture Pipeline program,” said Mark diTargiani, senior vice president of technology banking practice at Pacific Western Bank. “We are committed to supporting the venture capital community and entrepreneurs, and the Alliance has the great ability to bring together the rising tech and life sciences communities and connect them to relevant investors. By working together and By combining our two networks, we’ll be able to connect promising early-stage startups with venture capital, in hopes of creating a more balanced and diverse group of founders in the SoCal area.”

Under the new sponsorship deal, the program will now be renamed “The SoCal Venture Pipeline Powered by Pacific Western Bank” and will continue to focus on connecting qualified early-stage founders seeking seed capital. and Series A with the right investors. Startups based in the SoCal region that apply to participate in the SVP program undergo a rigorous screening process by a team of investment professionals before being accepted into the program. Once accepted, they are then vetted before receiving highly targeted personal introductions to the appropriate investors in the Alliance’s extensive and growing network of venture capital partners.

Since its launch in March 2021, more than 250 startups have applied to the SoCal Venture Pipeline program, 31 of which have been accepted and received vital support through relationships with investors, advisors and additional capital resources. Through the program, several startups have secured venture capital funding and more success stories are on the way.

For SoCal-based tech startups that raise $1M+ in seed capital or $4M+ in Series A institutional capital and meet the guidelines outlined in the Program FAQs, apply now to begin the process of connecting with the right investors.

About the Southern California Innovation Alliance

The Alliance for Southern California Innovation (the “Alliance”) is a non-profit organization formed in 2017 that has successfully brought together the mass of Southern California top research institutions, local business leaders and world-class advisors focus on closing critical gaps in the SoCal innovation ecosystem. The Alliance’s goal is to engage and unify SoCal’s fascinating diversity of talent, ideas, and perspectives to optimize the conditions for the region’s innovators to bring breakthroughs to the world.

About Pacific Western Bank

Pacific Western Bank is a commercial bank with over $40 billion of assets headquartered in Los Angeles, Californiawith an executive office at Denver, Colorado. The Bank focuses on relationship-based business banking with small and medium-sized enterprises and venture capital-backed companies nationwide. The Bank offers venture capital banking products, including a full range of financial services focused on entrepreneurial and venture capital-backed companies and their venture capitalists and private equity investors, with offices located in of key innovations through United States. To learn more about Pacific Western Bank, visit www.pacwest.com.

Contact: Eric EideThe SoCal Innovation Alliance
E-mail: [email protected]

SOURCE The Southern California Innovation Alliance

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