Silicon Valley Bank Serves As Lead Arranger For £50 Million Financing For Draper Esprit
London – June 19, 2019 - Silicon Valley Bank (SVB), the bank of the world’s most innovative businesses and their investors, today announced that it led a £50 million senior secured term loan to Draper Esprit plc, the AIM-listed venture capital investor, which has supported entrepreneurial, fast-growing companies across Europe for over 20 years.
The financing includes a three-year £25 million revolving credit facility from Silicon Valley Bank, which served as the mandated lead arranger and facility agent, and an additional £25 million loan from a third party. The financing will allow the company to become more agile when identifying investment opportunities and provide increased operational efficiency.
“The additional financing from Silicon Valley Bank will support the expansion of our portfolio and ensure that we continue to invest in the best companies in the market. Silicon Valley Bank has an in-depth understanding of our business and industry and have provided the necessary financing to support and accelerate our business objectives,” said Ben Wilkinson, Chief Financial Officer, Draper Esprit.
Gavin Rees, Region Manager, Global Funds Banking UK, Silicon Valley Bank said, “We are delighted to have partnered with Draper Esprit to develop this innovative facility. The iterative process between Draper Esprit and Silicon Valley Bank is characteristic of how we work collaboratively with our fund clients to find solutions, which are tailor-made for their individual needs.”
Draper Esprit has a £595 million portfolio of early-stage and growth companies, including companies such as Trustpilot, UiPath, Transferwise and Graphcore.
About Silicon Valley Bank
For more than 35 years, Silicon Valley Bank (SVB) has helped innovative businesses and their investors move bold ideas forward, fast. SVB provides a range of financial services and targeted expertise to companies of all sizes in innovation centres around the world, including the UK. With commercial and international banking services, SVB helps address the unique needs of innovators. Learn more at svb.com/uk.
Silicon Valley Bank is registered in England and Wales at Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB).
About Draper Esprit plc
Draper Esprit is one of the most active venture capital firms in Europe, developing and investing in disruptive, high growth technology companies. We believe the best entrepreneurs in Europe are capable of building the global businesses of the future. We fuel their growth with long- term capital, access to international networks and decades of experience building businesses. Currently Draper Esprit is a shareholder in a diverse portfolio of companies including Trustpilot, UiPath, Transferwise, and Graphcore. For more information please visit: www.draperesprit.com