Velocity Financial Opens Silicon Valley Office

Velocity Financial Group has opened an office in Santa Clara, Calif. It also hired Tony Huang as a vice president. Huang previously was a VP of tech banking at United Commercial Bank.

PRESS RELEASE

Velocity Financial Group, Inc. announced today that it has established an office in Santa Clara, Calif., marking the firm’s first physical presence in Silicon Valley. In connection with the new Silicon Valley office, Velocity also announced the appointment of Tony Huang as vice president. Huang is responsible for sourcing and evaluating investment opportunities for Velocity primarily on the west coast.

“Our mission at Velocity Financial Group is to become the premier specialty finance company serving the entrepreneurial and venture capital communities,” said Jan Haas, co-founder and president of Velocity. “By establishing our new Silicon Valley office with Tony on board, we have significantly enhanced our ability to work closely with local entrepreneurs and VCs. In the current volatile economic environment where many investors and lenders have scaled back operations, this investment by us demonstrates our continued commitment to the venture debt asset class and the entrepreneurial community.”

Prior to joining Velocity, Huang was vice president of the Technology Banking Group at United Commercial Bank, focused on asset-based lending to expansion and later stage technology companies. Huang was previously with Silicon Valley Bank, serving in various capacities involving credit underwriting and portfolio management, corporate development, and international strategic alliances during a ten year period. As director of the International Venture Capital Group, Huang maintained SVB’s network of international venture capital relationships and reviewed strategic investments in technology companies and venture funds.

“Tony is a trusted individual within the Silicon Valley ecosystem with a tremendous network of relationships. We are looking forward to Tony’s contributions as a valued member of the Velocity team,” added Haas.