The oversubscribed capitalization, which the bank called the largest de novo capitalization ever in Orange County, was led by Gordon and Arkview Capital, founded and led by Joon Chang, Pavel Chernyshov, and Vijay Mehta; it’s a minority-certified private equity fund focused on investing in diversity-oriented businesses.
“As the banking industry experiences ongoing consolidation and dislocation, the market serving diverse communities, small to mid-sized businesses, and owners, operators, and investors in income producing multifamily and commercial real estate, continues to grow,” Gordon said in a statement.
Gordon was involved in the founding of two Irvine-based banks that were later acquired, Commercial Capital Bancorp and Opus Bank.
Piper Sandler & Co. acted as an advisor to Genesis Bank while Holland & Knight LLP served as legal counsel and Carpenter & Company served as consultants.
-Advertisement-
Stephen Gordon Raises $57M for new Genesis Bank
Want more from the best local business newspaper in the country?
Sign-up for our FREE Daily eNews update to get the latest Orange County news delivered right to your inbox!
Would you like to subscribe to Orange County Business Journal?
One-Year for Only $99
- Unlimited access to OCBJ.com
- Daily OCBJ Updates delivered via email each weekday morning
- Journal issues in both print and digital format
- The annual Book of Lists: industry of Orange County's leading companies
- Special Features: OC's Wealthiest, OC 500, Best Places to Work, Charity Event Guide, and many more!
-Advertisement-
