Techstars, a startup accelerator founded in 2006, has plans to double down on international growth with a new investment.
SVB Financial Group, the holding company of Silicon Valley Bank, led the $42 million round in Techstars, with participation from Foundry Group.
With $500 million AUM, Techstars is both a fund deploying capital to early-stage upstarts and an operating business nearing $100 million in annual revenue. Its latest equity investment, announced this morning, will fuel the latter, helping Techstars accelerate its global expansion efforts.