Axos Bank, the nationwide bank subsidiary of Axos Financial, launched a technology and life sciences banking division. Led by Silicon Valley industry veteran Rod Werner, Axos enters the innovation economy with an experienced and talented team.
The new division will have dedicated teams in Palo Alto, San Francisco, Boston, New York and LA focused on supporting venture capital and private equity firms directly as well as the firm’s portfolio companies through three distinct but coordinated verticals: sponsor finance, lender finance and fund finance. With a focus on software, AI, fintech, and healthcare IT sectors, this new division will offer recurring revenue lines of credit, term loans for mergers and acquisitions, as well as treasury management solutions to support startups, growth-stage companies, publicly-traded corporations, venture funds and private equity funds.
“The technology and life science community is looking for the next leader in banking, and Axos has the financial stability, entrepreneurial spirit and client-focused model to become a trusted partner,” Greg Garrabrants, president and CEO of Axos Financial, said. “Under Rod’s leadership, Axos will offer a comprehensive set of banking solutions, supported by turnkey technology and responsive client service.”
Werner is joined by a team of 10 seasoned professionals that has worked together in the innovation economy for over 20 years, successfully structuring more than $10 billion in debt commitments to sponsors, sponsor-backed companies, and venture debt funds. The group includes William Sweeney, Greg Belanger, Alan Jepsen and Ashish Sharma, along with a number of other highly experienced and dedicated professionals. The Axos technology and life sciences banking team brings a wealth of knowledge to empower businesses at every stage of their journey and provide the insights and resources they need to thrive.
“Our team has spent decades working together in the innovation economy sectors, and joining Axos allows us to bring our expertise to a rapidly evolving landscape,” Werner said. “Axos has always been a digital-first company, and we are thrilled to set a new standard for how tech-focused banking should be done.”
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