Customers Bank Strengthens Venture Community Ties with FDIC Investment Fund Purchase

Customers Bank

WEST READING, PA — Customers Bank, a subsidiary of Customers Bancorp (NYSE: CUBI), has deepened its commitment to the venture banking and startup communities with its sixth venture fund investment. The bank acquired a minority limited partnership interest in a fintech investment fund for $5 million, securing the investment at an approximate 70% discount to the original cost.

“This investment further solidifies Customers Bank’s position as a leading partner to the venture community,” said Sam Sidhu, President and CEO of Customers Bank. “It also provides access to deal, partner, and client flow in the venture tech and startup sectors, both areas of strategic growth for the bank.”

Sidhu highlighted that such investments have expanded the bank’s venture banking client base and sourced technology partners for the bank’s operational and technology roadmap.

In June 2023, Customers Bank purchased a $631 million legacy Signature Bank loan portfolio from the Federal Deposit Insurance Corporation (FDIC). This move included integrating approximately 30 experienced venture bankers, enhancing the bank’s support for entrepreneurs nationwide.

The bank’s 2023 investments and the stability they have provided to the venture and tech communities have enabled Customers Bank to quadruple its portfolio of clients in these sectors.

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