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Tech and life sciences investment firm seals $20m debt facility from Silicon Valley Bank

Allied Minds, the US investment firm, has secured a $20m debt facility from Silicon Valley Bank that will help the group grow its portfolio of investments.

Announced to the London Stock Exchange this morning, the group said that it hopes the agreement signals the beginning of a ‘long-term’ relationship with the bank as it looks to embark on more investments in the life science and technology sectors.

Commenting on the new arrangement, Chris Silva, Chief Executive Officer of Allied Minds, said: “We are pleased to have SVB’s support as we continue to build and develop our portfolio and look forward to what we anticipate will be a long-term relationship with SVB.

“The SVB facility further diversifies our capital structure and is a powerful endorsement of the Group’s growth and development prospects.”

Allied Minds has its headquarters in Boston, along with offices in New York, Los Angeles and London, with a focus on commercialising research at US universities.

Currently boasting a portfolio of 24 investments, today’s debt facility will allow the group to back even more investments as it looks to add to the $550m of capital it has raised thus far.

Glen Mello, Managing Director of Silicon Valley Bank, added: “Allied Minds and SVB are aligned in their mission to help innovative companies in the life science and technology sectors to be successful. It is our pleasure to continue Silicon Valley Bank’s partnership with Allied Minds.”

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