Awesome. Thanks, everyone, for having me.
My name is Graeme Millen. I am the managing director of climate tech and sustainability for Silicon Valley Bank in Canada, where I lead SVB's efforts to support and nurture the growth and success of Canadian clean-tech companies.
Prior to working with SVB, I dedicated over a dozen years to the financing, building and operating of clean-tech companies and clean energy projects.
For those who don't know, SVB was established about 40 years ago to be the financial partner for the technology innovation ecosystem. We now bank more than 40,000 tech companies globally, including 50% of all VC-backed companies in the United States, as well as more than 3,000 venture capital and private equity funds themselves. As a result, we have a pretty unique front-row seat at the intersection of innovation and capital.
SVB has been committed to supporting Canadian tech companies for the better part of 20 years, culminating in successfully receiving our Canadian banking licence in 2019. We now have a team of 50 across Canada, backed by a global team of 6,500 people.
The global and Canadian venture capital markets have been extraordinarily active in recent years, with a record $15 billion deployed by venture capital funds into Canadian tech companies in 2021. Despite current market volatility, the Canadian and global tech market remains resilient and well capitalized, with $7 billion of new investment already in 2022 in Canada. North American venture capital reserves sit at a staggering record of over $270 billion.
Trusted programs like SDTC, IRAP and SR and ED have been mainstays of enabling the development and early demonstration of critical technologies, particularly in clean tech. However, there remain two critical drivers to support the clean-tech sector's ability to meet our climate objectives while ensuring we build a robust, competitive economy. First, access to capital—