Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, announced that veteran finance executive Sam Bhaumik has joined the Bank as Executive Vice President, Venture Lending Group.

“Part of our ultimate strategy for years has been venture and technology lending, but we needed to wait until we had the balance sheet, capital, infrastructure and governance before we could start the search for the right leader,” stated Mark D. Mordell, Chairman and CEO of Avidbank. “We are excited to have someone of Sam’s caliber and credibility, someone who shares our vision, to lead our newest division.”

“I am very excited to be joining the innovative Avidbank team to lead and build the Venture Banking Division,” stated Bhaumik. “Avidbank has built a premier banking platform and has developed a strong reputation for providing a high level of client service and customized debt solutions. These core strengths, along with the vast venture banking experience among the senior leaders of Avidbank, will allow us to become a premier provider of banking and lending solutions for early- to mid-stage technology companies and their entrepreneurs nationwide.”

Bhaumik has more than 25 years of investment and debt financing experience, most recently at Square 1 Bank as Executive Vice President and Silicon Valley Group Head. Prior to Square 1, Mr. Bhaumik was Senior Managing Director and Technology Group Head for Hercules Technology Growth Capital. He also acted as Vice President for NYSE, and held Senior Vice President roles at Comerica Bank and Imperial Bank. Mr. Bhaumik began his career at Silicon Valley Bank.