Venture capital firm Draper Esprit plc received a £50 million senior secured term loan from Silicon Valley Bank, which is listed on AIM.
The financing consists of a three-year £25 million revolving credit facility from Silicon Valley Bank, which also functioned as the facility agent and mandated lead arranger.
The funding will boost the company’s operating efficiency and enable it to be more flexible when identifying investment possibilities.
Draper Esprit is a venture capital firm that actively invests in fast-growing technological firms by giving them access to long-term cash, global networks, and business building expertise.
Trustpilot, UiPath, Transferwise, and Graphcore are just a few of the early-stage and growth companies in Draper’s £595 million portfolio.
Silicon Valley Bank, a bank subsidiary based in California and part of the SVB Financial Group (Nasdaq: SIVB), offers a variety of financial services and specialised knowledge to businesses of all kinds in innovation hubs all over the world.