San Francisco venture debt specialists expand senior team to increase support for startups.
SAN FRANCISCO, Sept. 9, 2024 /PRNewswire-PRWeb/ -- ATEL Ventures, Inc., a division of ATEL Capital Group and a provider of venture debt and equipment financing solutions to growth-stage companies, today announces the expansion of its team with the appointment of Michael Orlando as Vice President.
The new hire is part of ATEL's ambition to expand its Ventures business and provide more startups with the capital they need to pursue their growth goals without diluting shareholder equity.
A seasoned banking professional, Michael 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 Bachelor of Science in Business Administration, with a concentration in Finance.
Orlando will report to ATEL Ventures' President, Steven Rea. "Securing equity financing is extremely tough for most founders at the moment," said Rea. "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," said Orlando. "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.
Since 1999, ATEL has lent hundreds of millions of dollars to startups at all stages and across multiple industries. Recent deals include Astranis, Harbinger, Isar Aerospace, LuxWall and Sandbox VR.
About ATEL Ventures, Inc.
ATEL Ventures, a division of ATEL Capital Group, is a leading provider of venture debt and equipment financing to emerging growth companies. The company is a primary source of non-dilutive capital across the landscape of venture capital investments. ATEL Ventures is industry- and stage-agnostic, having provided capital to companies in Information Technology, Life Sciences, Energy, Agriculture, Material Sciences, and Consumer Products and Services. For more information, visit: https://atelventures.com/ or email Steven Rea: srea@atel.com
About ATEL Capital Group
Founded in 1977, ATEL Capital Group (ACG) owns and manages a large portfolio of assets, including low tech equipment leased to primarily investment grade corporations (through ATEL Leasing), loans to high growth companies (through ATEL Ventures), and real estate (through ATEL Properties). For more information, visit: https://atel.com/
Media Contact
Jon Meakin, Coldharbour Communications, 1 917 624 3227, jon@coldharbourcomms.com, https://atel.com/venture-debt/
SOURCE ATEL Ventures, Inc.
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