Silicon Valley Bank led a £50m senior secured term loan to Draper Esprit plc, the AIM-listed venture capital firm.
The financing includes:
– a three-year £25m revolving credit facility from Silicon Valley Bank, which served as the mandated lead arranger and facility agent, and
– an additional £25m loan from a third party.
The financing will allow the firm to become more agile when identifying investment opportunities and provide increased operational efficiency.
Draper Esprit is an active venture capital firm investing in high growth technology companies providing long- term capital, access to international networks and experience building businesses.
Currently, Draper has a £595 million portfolio of early-stage and growth companies, including companies such as Trustpilot, UiPath, Transferwise and Graphcore.
The California bank subsidiary of SVB Financial Group (Nasdaq: SIVB), Silicon Valley Bank provides a range of financial services and targeted expertise to companies of all sizes in innovation centres around the world.
FinSMEs
19/06/2019