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JPMorgan Chase & Co.

At Silicon Valley Bank, risky tech start-ups are lucrative business

At Silicon Valley Bank, risky tech start-ups are lucrative business

Few banks are as close to the industries they serve as Silicon Valley Bank is to the technology world. An industry mainstay since the 1980s, the bank veers far from the course of conventional financial institutions. Part lender, part consultant, part cheerleader and part investor, Silicon Valley Bank has been a nursemaid to countless start-ups — Airbnb, Fitbit, Pinterest and TrueCar, to name some recent ones — as well as banking the venture capitalists who fund them. By many measures, the bank has outperformed bigger rivals, not just by lending to fledgling firms but by taking small ownership stakes in them to help offset their higher risks. ------------ FOR THE RECORD:...

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