This archive report was first published on 30 July 2019.
July 30, 2019 - Techstars, the worldwide network that empowers entrepreneurs to succeed, has secured a significant $42 million investment led by SVB Financial Group. This funding will enable Techstars to further accelerate its global expansion.
The investment will be used to support Techstars' seed-stage accelerators, global startup ecosystem activations, corporate innovation, and entrepreneur-focused events. This move is expected to help more entrepreneurs succeed worldwide.
As part of the financing, John China, President of SVB Capital, has joined Techstars' Board of Directors. China expressed his enthusiasm for the opportunity, stating, "The Techstars team is well-positioned to keep developing its platform and enable and support founders, investors, and startup ecosystems around the globe."
With this investment, Techstars aims to further develop its platform and support entrepreneurs, investors, and startup ecosystems globally. The firm has $500 million under its management and generates $100 million in annual revenue from its operating business.
Today, Techstars' investment arm comprises 49 accelerator programs in 35 cities across 16 countries, deploying $80 million into nearly 500 startups annually. The Techstars portfolio of 1,900 companies attracts an annual $2 billion in downstream investment from the venture capital industry.
Additionally, Techstars invests in global emerging startup communities by operating approximately 1,000 annual Techstars Startup Weekend events in 600 cities across 120 countries. Through its operating activities, Techstars partners with nearly 100 corporations to provide corporate innovation solutions.
"Being the largest and most active global seed investor requires a mindset and approach that is completely distinct from traditional venture capital," said Techstars Co-CEO David Cohen. "Techstars has created and is scaling an entirely new type of early-stage private equity asset."
