Silicon Valley Bank has named Sunita Patel as head of business development for its technology and healthcare practice. She was most recently the president of Comerica Bank’s technology and life sciences division where she oversaw lending teams across the U.S. and Canada. Patel is succeeding Jennifer Friel Goldstein, who is joining SVB’s venture capital arm SVB Capital as managing partner to lead its new life science and healthcare investment team.
Correction: The previous headline of this news report misstated the acronym for Silicon Valley Bank. It has since been corrected.
SANTA CLARA, Calif., Aug. 28, 2020 /PRNewswire/ — Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors, today announced the appointment of Sunita Patel as Head of Business Development for its Technology and Healthcare practice. Sunita will succeed Jennifer Friel Goldstein, who is joining SVB’s venture capital arm, SVB Capital, as Managing Partner to lead the firm’s new Life Science & Healthcare investment team and help stand up a life sciences direct investment fund.
Building Silicon Valley Bank’s Technology and Healthcare Business
In her role as Head of Business Development, Sunita will oversee venture capital relationship management, corporate venture relationship management, sales origination and SVB’s emerging managers practice across the US. She will report to Dave Sabow, Head of Technology and Healthcare Banking, North America and will be based in Palo Alto, California.
“The opportunities for our clients in the innovation economy continue to grow and we are fortunate to have the experienced professionals on staff who can help accelerate their success,” said Mike Descheneaux, President of Silicon Valley Bank. “Sunita has been helping innovative companies and their investors build their businesses for many years and we are thrilled to have her join our team at SVB. We look forward to helping many more clients together.”
Sunita has spent her entire career focused on the innovation economy and has extensive experience building relationships with venture capital firms and providing lending and financial services support to venture-backed technology companies. She was most recently the President of Comerica Bank’s Technology and Life Sciences Division, where she oversaw lending teams across the US and Canada. Previously, Sunita spent 20 years managing Comerica Bank’s Venture Capital Group.
Sunita is a member of the VCNetwork, and an early sponsor of the organization. She is a charter member of The Indus Entrepreneurs, a global entrepreneurship organization, and serves on the advisory board for The Forum for Women Entrepreneurs and The Women’s Technology Cluster. She is also a longtime supporter of the American India Foundation.
New Healthcare Investment Team at SVB Capital
In Jennifer Friel Goldstein’s new role, she will lead the firm’s new Life Science & Healthcare investment team and help develop a life science direct investment fund for institutional Limited Partners. Jennifer is a bioengineer by training who has been with SVB for eight years serving in a variety of leadership roles. She has successfully built and lead several practice areas at the bank, including her most recent success as Head of Business Development for the Technology and Healthcare practice. Prior to this role, Jennifer led SVB’s West Coast Healthcare practice and the Biotechnology and Diagnostics practice.
“Investors of all types globally are seeking access to the innovation economy, increasingly in healthcare, which brings growth and opportunity to our funds business at SVB Capital,” said John China, President of SVB Capital. “Jennifer is the ideal lead for our new life science and healthcare investment team, bringing her scientific and business acumen to the table. We see enormous potential in healthcare investing over the next decade and expect to build a life science direct investment fund for institutional LPs that is highly differentiated and synergistic with SVB and SVB Leerink.”
Jennifer joined SVB after a successful tenure at Pfizer, where she served as a director on Pfizer’s Venture Capital Team and helped lead or co-lead investments into several companies. She also led fund-of-fund investment decisions and independently managed Pfizer’s $250 million private equity portfolio. Jennifer enjoys being involved with Springboard Enterprises and serving on the board of the Leukemia & Lymphoma Society in Silicon Valley. She most recently joined the board of Venture Forward, launched by the National Venture Capital Association to drive diversity and inclusion in the venture capital industry. She also serves as an independent director for Alexandria Real Estate Equities, Inc. She earned her bachelor’s degree in bioengineering, magna cum laude, and a master’s degree in biotechnology from the University of Pennsylvania. Jennifer was named a Joseph Wharton Fellow while completing her MBA at the Wharton School.
About Silicon Valley Bank
For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.