SAN FRANCISCO — Technology-focused companies that have been struggling to break into the U.S. stock market could gain traction in San Francisco’s financial center, a venture capital firm said Monday.
It’s a potential model that could bring a mix of Silicon Valley’s top investors with traditional banks and other investors, said Scott Blevins, founder of the venture capital arm of venture capital powerhouse Andreessen Horowitz.
The San Francisco financial center is home to many of the tech giants and tech-focused startups that are seeking to enter the U., including Amazon, Twitter, Facebook and PayPal.
They are working with local banks and private equity firms to get financing for their projects, and are considering a variety of investment options, including venture capital, according to a person familiar with the plans.
“We think that this is a model that is not a unique or unusual thing in the United States, but we think that we’re seeing a number of other countries where the model works and is actually a viable model for the U,” said Blevin, who has worked with some of the biggest names in the sector, including Facebook, Apple and Amazon.
Many of these financial centers are struggling financially because they don’t have enough staff, Blevens said.
In San Francisco, which has about 5 million people, about one-quarter of them are non-bank employees, according the most recent census data.
Some financial centers have had a rocky start, like in Seattle, where an economic downturn in the early 1990s wiped out tens of thousands of jobs.
But Blevons said it’s not clear how much of an impact this model could have on San Francisco.
Even if San Francisco becomes a financial hub for Silicon County, it will be a far cry from Silicon Valley, which is focused on attracting technology companies, he said.
“I think the question is, how can you compete with Silicon Valley if you’re not really focused on that,” he said, adding that the city is the second-most-visited financial center after San Francisco in the U, after Boston.
As the financial center moves forward, it could be the first time a financial district has emerged from Silicon County.
One of the most significant innovations of the financial district was the creation of the Center for Innovation and Entrepreneurship, which was named in the name of former Supervisor Scott Wiener, who was appointed by Gov.
And as it is located in the Financial District, its economic impact could be significant.
Blevins said the financial sector is the fastest-growing sector in the Bay Area and is projected to be one of the fastest growing in the country by 2040.
There are about 4,000 financial firms in the region, and many of them have offices in the financial centers, he added.