Techstars raises another $42 million to further fuel its business model
Techstars, the rapidly expanding start-up accelerator founded in 2006, has secured $42 million in investment in an effort led by SVB Financial Group, the holding company of Silicon Valley Bank. As of the posting of this article, Techstars had logged some impressive numbers:
- An investment management business with $500 million in assets under management as well as an operating business that is rapidly approaching $100 million in annual revenue.
- Forty-nine accelerator programs in 35 cities across 16 countries, deploying $80 million into nearly 500 start-ups on an annual basis.
- An overall portfolio of 1,900 companies that currently attracts an annual $2 billion in downstream investment from the venture capital industry. A
- About 1,000 annual “Techstars Startup Weekend” events in 600 cities across 120 countries to help surface and support future high growth companies.
