Arent Fox LLP Represents SunBridge Capital in Equity Investment in Silvergate Bank
The proceeds of the private placement will support further growth in Silvergate Bank's nationwide fintech deposit initiative and its business banking and residential lending activities. Silvergate Bank's emphasis on deposits and cash management services for financial technology companies helped drive the bank’s 770% growth in noninterest bearing demand deposits in 2017, to $1.5 billion.
Arent Fox’s Jay L. Halpern, Jeffrey E. Jordan, Amal U. Dave, and Matthew B. Berlin advised SunBridge on the deal, which expands SunBridge’s financial services portfolio to include a significant player in the emerging financial technology sector.
Arent Fox advises SunBridge, a privately held multi-strategy investment management firm formed with permanent capital and strategic support from the Bainum family, on a series of investments in the banking and financial services sector.
Arent Fox also advises SunBridge on its other investments, such as its investment in Peaceable Street Capital, as SunBridge continues to collaborate with management teams to grow companies that create long-term shareholder value.
Mr. Halpern is annually recognized among the best transaction attorneys in the US by Legal 500 and Super Lawyers. His practice focuses on corporate finance, mergers and acquisitions, corporate structuring, joint ventures, venture capital, and general corporate law. He advises public and private US companies, as well as international and multinational corporations, in various stages of development and growth.
Arent Fox maintains one of the largest and most comprehensive corporate practices in Washington, DC. The Corporate & Securities practice is internationally recognized for providing legal service on transactions in a range of industries. The breadth of the practice distinguishes the group from other DC-based transactional practices. As a reflection of that talent, the firm has been recognized by Chambers USA, Legal 500 and U.S. News & World Report’s “Best Law Firms.”