Published on Wednesday11thMay2016

Silicon Valley Bank commits an additional $100M to Irish innovation sector

20160511 Noonan Silicon Valley Bank

Silicon Valley Bank today announced a continued collaborative relationship with the Ireland Strategic Investment Fund, aimed at supporting the technology economy in Ireland.

In June 2012, Silicon Valley Bank announced plans to commit $100m over five years to support Ireland’s innovation sector in collaboration with the Ireland Strategic Investment Fund’s predecessor, the National Pensions Reserve Fund. So far, 15 Irish companies have benefitted from the commitment, including Accuris, Boxever, Clavis Insight, Movidius and Profitero.

Silicon Valley Bank expects to deploy an additional $100 million of new lending commitments to fast-growing Irish technology and life science businesses over the next five years, from its operations in the US and UK, subject to its standard lending criteria.