The National Pensions Reserve Fund is to collaborate with Silicon Valley Bank to lend $100m to the Irish innovation sector.
The money will be available to Irish technology, life science, cleantech private equity and venture capital businesses.
The National Pensions Reserve Fund will help identify potential clients in these niche sectors.
Paul Carty, Chairman of the NPRF Commission said that bringing Silicon Valley Bank's expertise and understanding of emerging and high growth companies to Ireland would boost the long term growth potential of the innovation sector.
Greg Becker, President and CEO of Silicon Valley Bank said that they would build on the momentum created by a similar initiative in the UK.
In a separate transaction, the NPRF has made a commitment to invest in technology-focused funds managed by SVB Capital.
Silicon Valley Bank has 27 US offices and seven international offices. It serves the technology, life science, cleantech, venture capital, private equity and premium wine businesses.
