The group said in a press release Monday that it brought in $57
million in a capital raise led by Stephen Gordon of Gordon Ventures and
Arkview Capital.
Gordon, who is set to serve as the bank’s chairman and CEO, is
the former CEO of Opus Bank. Arkview, founded by Joon Chang, Pavel
Chernyshov and Vijay Mehta, is a minority-certified private equity fund
focused on investing in diversity-oriented businesses.
"I am excited for this opportunity to invest in the
launching of a new commercial bank headquartered in and focused on serving the
diverse business and commercial real estate needs of Southern California,”
Gordon said.
“As the banking industry experiences ongoing consolidation and
dislocation, the market serving diverse communities, small to midsize
businesses, and owners, operators, and investors in income producing
multifamily and commercial real estate, continues to grow, especially during
this critical time when the economy… recovers from the pandemic-driven
recession," Gordon added.
Genesis gained conditional approval from the Federal Deposit
Insurance Corp. on Jan. 29. It was required to raise $53.3 million to open.
Piper Sandler and Holland & Knight advised Genesis,
with Carpenter & Co. serving as a consultant. Greenberg Traurig advised
Arkview.
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