The founder liquidity service was inspired by one seminal moment where the story reflected untold numbers that preceded it. Over the course of the bank’s history, founders continually approached the bank about credit based off of their illiquid private stock.
One particularly notable example was when Ken was invited over to Sequoia Capital to discuss how he might help the CEO of a company that was experiencing breakaway growth. The CEO relocated to the Bay Area and was seeking a means to secure his family into a home and send his kids to school. The goal was to address these family needs while keeping his sights trained on the company’s IPO, still a few years in the offing. Helping to solve this CEOs challenge served to launch several new product strategies around founder liquidity.
Having known Ken all this time, I knew he was working on productizing a set of founder liquidity offerings. But, it wasn’t until I went to visit with Ken’s boss, John China, that he put it all together for me. With John’s and Greg Becker’s blessing, Ken co-created Founders Circle with us and brought SVB as an exclusive strategic partner.
by Mike Jung