Pension reserve fund and bank to invest €79m in technology sector

The National Pensions Reserve Fund and Silicon Valley Bank have entered an agreement that will see €79 million invested in the Irish technology scene.

The NPRF has also agreed to invest in technology-focused funds managed by Silicon Valley Bank Capital. The NPRF has committed to investing €39m with Silicon Valley Bank.

As part of the agreement the NPRF will provide Silicon Valley Bank with guidance while the bank will take on an Irish employee to help identify companies in which to invest.