Fintech investor Portag3 raises $198 mln in first close of Fund II
Portag3 Ventures, the financial technology firm of Canadian holding company Power Corp, has secured $198 million in the initial close of its second fund. Portag3 Ventures II LP, which is targeted to raise more than $300 million, was backed in the first close by Power affiliates and third-party investors. The latter include National Bank of Canada, Intact Financial Corp, Guardian Capital Group, Equitable Bank, La Capitale and SSQ Insurance. Fund II will maintain Portag3's strategy of investing in early-stage companies and funds in the global financial technology sector. Since its launch in 2016, the firm has made more than 30 investments. Portag3 is led by President and Managing Partner Adam Felesky.
30 October 2018•3 mins read
