SANTA MONICA, Calif.--(BUSINESS WIRE)--Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a credit facility to Santa Monica-based CrossCut Ventures, a seed-stage venture capital firm.
Launched in 2008, CrossCut Ventures is led by co-founders Rick Smith, Brian Garrett, and Brett Brewer, who together bring over 60+ years of combined experience in starting, operating, investing in and successfully exiting technology companies. The firm's investment focus is aligned with the emerging technology ecosystem in Southern California, with sectors ranging from online advertising, mobile, gaming, consumer Internet and e-commerce, to next-generation infrastructure and analytics.
“We are pleased to partner with bankers that know the venture capital industry so well,” said Rick Smith, managing partner at CrossCut Ventures. “The Square 1 Bank team really took the time to understand our model and delivered a tailored financial solution that will smooth out timing differences for our LP calls.”
Leslie Smith, senior vice president in Square 1 Bank's Venture Capital Services practice, added, "CrossCut Ventures is a great supporter of the Southern California tech ecosystem. This partnership gives Square 1 the opportunity to affirm our commitment to the region while establishing a new connection with a proven firm. We look forward to a mutually beneficial relationship."
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients’ needs. The bank offers tailored products and solutions aided by the latest in technological innovations. Square 1 has offices coast to coast in Austin, Boston, Denver, Durham, Los Angeles, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit www.square1bank.com.