US-based bank Silicon Valley Bank invested $3m of series A funding in Startup Institute, a US-based incubator for talented start-up staff, today.
Founded in Boston, Startup Institute expanded to Chicago and New York before raising $1.3m in equity and debt in January this year. It plans to use the SVB investment to expand beyond the US.
Chairman of Startup Institute Chairman Katie Rae said: “Growth into new markets was inevitable, and our strategic partnership with Silicon Valley Bank means we can accelerate our development of new programmes and our expansion into multiple new locations in both the US and internationally.”