CIBC Innovation Banking fuels innovation economy with additional $2.5 billion growth capital

CIBC Innovation Banking, a North American financial partner for investors and entrepreneurs, announced it is extending its unicorn fuel runway, with an additional $2.5 billion of growth capital dedicated to support founders and venture capitalists in the innovation economy. The financing team has injected over $9 billion in capital support to innovative software, life sciences, health care, cleantech companies, investors and entrepreneurs, and has assisted more than 500 venture-backed businesses over the past six years.

Building on the success of its Unicorn Fuel deployed over the last two years, CIBC Innovation Banking will continue its support for high growth innovation economy businesses in the new year, providing its portfolio companies with cross-border networks and support along every growth step and through exit.

Mark Usher, President and Executive Managing Director, CIBC Innovation Banking: ''This past year was a challenging one for many companies in the sector as valuations were reset and rising interest rates affected business confidence across the board, but we continue to see long-term opportunities. Companies are getting back to planning for growth and we’re seeing the resilience of the sector. Our team has a deep understanding of the innovation economy and a strong track record of financing successful companies. We’re optimistic for the year ahead and remain dedicated to working with growth-oriented companies and investors as they chart their next phases of growth and create value for all stakeholders.''

CIBC Innovation Banking, which is part of a 155-year-old, AA-rated institution, has proved to be a trusted partner for growth companies in an environment where financing is becoming more difficult. With a core team that has been in place for more than two decades, CIBC Innovation Banking provides debt financing solutions to innovation companies through all stages of growth. 
In recent years, CIBC Innovation Banking has financed industry-leading companies such as Ada, Huntress and Transmedics and generated more than nine IPOs.

CIBC Innovation Banking operates out of 14 global offices including U.S. locations in Atlanta, Austin, Boston, Chicago, Denver, Durham, Menlo Park, New York, Reston, and Seattle, with strong lead talent at every level. Building on its U.S. and Canadian growth, CIBC Innovation Banking opened its first office in London in 2021 to support the ambitions of UK-based entrepreneurs and their Venture Capital-backers. 

www.innovationbanking.cibc.com