ATEL Ventures, a division of ATEL Capital Group and a provider of venture debt and equipment financing solutions to growth-stage companies, expanded its team with the appointment of Michael Orlando as vice president.
A seasoned banking professional, Orlando joins ATEL from Bridge Bank, a division of Western Alliance Bank, where he most recently served as an assistant vice president. Orlando previously held roles with companies including Square 1 Bank (a division of Pacific Western Bank, now Banc of California) and BNY Wealth.
Active in the San Francisco community, Orlando is a board member of Opportunity for Independence (OFI), an organization helping to enhance the quality of life for individuals with developmental and other cognitive disabilities throughout Marin County. A Massachusetts native, Orlando graduated from the University of Southern Maine with a B.S. in business administration, with a concentration in finance.
Orlando will report to Steven Rea, president of ATEL Ventures.
“Securing equity financing is extremely tough for most founders at the moment,” Rea said. “While venture debt is not an alternative to equity financing, it is an important part of the finance stack, especially for capital-intensive startups in areas like space tech, biotech or industrial tech. With Michael as part of our team we will be able to pursue many more opportunities to deploy the hundreds of millions of dollars we have in dry powder.”
“Startups are an important part of our economy and should be given every opportunity to succeed,” Orlando said. “I am looking forward to working with founders and their venture investors to identify ways in which the smart use of venture debt can propel more startups to future success.”
Orlando’s appointment follows four further hires made by ATEL earlier this year in support of the company’s growth plans.
