Portag3 Ventures closes $320m fund for early-stage investment
Canadian venture capital firm Portag3 Ventures has closed its second fund based on investing in fintech start-ups, reaching $320 million in final commitments.
Portag3 is the venture capital arm of multi-strategy alternative asset manager Sagard Holdings. Its aim is to focus on early-stage investments, with a focus on Canada, the US, and Europe.
Adam Felesky, CEO of Portag3, told TechCrunch that Canada has the “talent, the expertise and one of the biggest markets in the world” on its southern border.
Among contributors to the new fund are Alterna Savings and Credit Union, Aviva Finance, BDC Capital, Green Shield Canada and more.
Portag3 has already made 32 investments in the fintech market, putting money into firms like Flybits, Alpaca, Dialogue, KOHO, Magnifi and Borrowell.
Related: What’s next for investment in tech?