June 18 (Reuters) – Toronto-Dominion Bank (TD.TO), opens new tab, Canada’s second-largest bank, on Tuesday launched a new business focused on providing banking and financing services to technology companies in its domestic market.

The bank intends to boost its presence in a highly saturated local market by expanding its reach to tech firms through the new unit, TD Innovations Partners (TDIP).

Shez Samji, a tech banker hired from the Canadian arm of failed U.S. lender Silicon Valley Bank last year, will head the new unit.