Tuesday, July 30, 2019

Techstars Raises $42M For Startup Acceleration Efforts

Boulder-based startup accelerator operator Techstars has raised a big, $42M funding round, led by SVB Financial Group (the holding company of Silicon Valley Bank), and also included Foundry Group and its other existing investors, the accelerator said on Tuesday. According to Techstars, the deal will help it accelerate its growth, through seed-stage accelerators, global startup ecosystem activations, corporate innovation, and entrepreneur-focused events. Techstars says it now runs 49 accelerator programs, spread across 35 cities across 16 countries. John China, President of SVB Capital, has joined the board of directors of Techstars.