Stifel launches founder-first venture banking model
When Silicon Valley Bank failed in March 2023, it removed a key source of credit and services that many startups relied on for everything from wiring funds to making introductions.
Large banks and a wave of digital-only lenders quickly entered the space, but analysts still question whether they have fully replicated the trusted relationship the collapsed bank offered. Traditional institutions brought extensive balance sheets, while fintech challengers offered streamlined onboarding through app-based platforms. Nevertheless, seasoned observers note that trust is built over years of personal interaction, not solely by technology.
Katya Kohen, managing director of the venture and fund banking group at Stifel, brings experience as a former founder, angel investor and accelerator operator to the role. Before joining Stifel, she founded a SaaS startup that raised multiple rounds and later mentored early-stage founders in accelerator programs. Her background gives her a dual perspective on both the financing side and the operational challenges faced by tech companies.
She describes the firm’s approach as “venture banking 3.0,” a founder-first model that blends personal relationships with a modern digital platform while linking clients to capital, treasury, wealth management and investment-banking services as they scale. Clients receive a dedicated relationship manager who can coordinate between credit desks, treasury specialists, and equity partners. The digital layer provides real-time cash dashboards and automated reporting, allowing founders to focus on product development.
According to the latest figures, the firm’s venture-banking portfolio now carries roughly $12 billion in commitments. The portfolio spans companies across artificial intelligence, biotech, and cloud infrastructure, reflecting the breadth of Stifel’s target market. Growth in the book has been driven by both new issuances and the conversion of earlier loan facilities into larger credit lines.
In the AI arena, venture debt has become a vital source of funding because developing large models and acquiring compute resources demand substantial, ongoing capital. Because AI projects are capital-intensive, venture debt fills the gap between seed equity and later-stage series funding. Lenders also structure repayment schedules that align with product milestones, reducing pressure on cash-flow.
