Techstars gets $42M investment to spur global programs

BOULDER — Techstars, a Boulder-based startup accelerator, announced Tuesday that it has received a $42 million investment aimed at supporting ongoing global expansion and growth.
The organization recently announced plans for new programs in Australia, the United Arab Emirates and South Korea. 

The recent investment was led by SVB Financial Group, the holding company of Silicon Valley Bank, according to a Techstars news release. Existing Techstars investors include Boulder-based venture firm The Foundry Group. 

SVB president John China will join the Techstars board of directors.

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“The Techstars team is well-positioned to keep developing its platform and enable and support founders, investors and startup ecosystems around the globe,” China said in a prepared statement. “SVB has a long history working with Techstars and its portfolio companies, and we’re enthusiastic about the opportunity to further our relationship and make a bigger positive impact on the innovation economy.”