Ireland's National Pensions Reserve Fund, Dublin, committed $50 million to technology-focused funds managed by SVB Capital, said David Clerkin, spokesman for the €15.1 billion ($19 billion) fund.
In a separate transaction, the NPRF will also collaborate with Silicon Valley Bank in a new initiative to lend $100 million “aimed at supporting the technology innovation sector in Ireland,” Mr. Clerkin said. Silicon Valley Bank will be making the loans over the next five years, while pension fund officials will help identify potential clients in technology, life science, clean energy, private equity and venture capital.
SVB opened its first, full-service commercial bank branch outside the U.S. earlier this month in London.
