Daniel Styles.Senior Vice President, Emerging Growth Division Imperial Bank FROM his perch at Imperial Bank, Daniel Daniel, book of the Bible Daniel, book of the Bible. It combines "court" tales, perhaps originating from the 6th cent. B.C., and a series of apocalyptic visions arising from the time of the Maccabean emergency (167–164 B.C. Styles oversees a client base of approximately 100 start-up companies start-up company A new business. . In the best of times, that means leveraging the startups' venture capital equity investments to secure debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay so the fledgling companies don't have to burn through their cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. to stay afloat. These days, however, it increasingly means finding ways to keep his clients operating until they can secure a new round of financing. "We've started to see more companies where the management team is executing on their business plan, but because of market conditions they still can't find equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. ," said Styles. "In those cases, there are a number of things we can do to help our clients." The types of help that Styles can provide his cash-strapped clients include access to the numerous VC firms where he has connections. In addition, he can provide bridge loans, sometimes in conjunction with Imperial Bank's venture capital division, to hold his clients until they can get a new round of VC funding. Or, on a case-by-case basis, he can allow his clients some temporary relief if they fail to meet the terms of their credit with the bank. A veteran of the venture capital and investment banking world -- Styles worked for Sun Valley Ventures and Morgan Stanley  To comply with Wikipedia's , the introduction of this article needs a complete rewrite. & Co. prior
to coming to Imperial Bank. As such, he brings more of an
investor's perspective to the commercial banking business.
"I take more of an equity-driven approach," said Styles. "I'm more inclined to see if there's value in a company, which is not how traditional bankers typically look at a company." |
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