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Blockchain Revolution Series: Canadian VC Portag3 Secures $320 Mln. (in Fund II) on FinTech Start-up
Portag3 Ventures, which is a Canadian venture capital (VC) firm, has announced that the second round of funding is closed with around $320 million to invest in fintech start-ups across the globe. The VC company has managed to fetch the mammoth $320 (or CAD 427) million from institutional and strategic investors.
The fund has been contributed by various institutional and strategic investors committing to this round: Alterna Savings and Credit Union, Aviva France, BDC Capital, Caisse de dépôt et placement du Québec, CNP Assurances, The Co-operators, Eldridge Industries, Green Shield Canada, Harel Insurance & Finance, iA Financial Group (TSX: IAG), Laurentian Bank (TSX: LB), NSV Wolf Capital, Public Sector Pension Investment Board, and Western & Southern Financial Group. And the fund exclusively encourages the companies with early-stage investments in promising fintech start-ups around the world, with a particular focus on regions like Canada, the United States, Europe and certain markets in the Asia-Pacific region.
The CEO of Portag3 Ventures, Adam Felesky reportedly said that the company is on a mission “to build global champions from a Canadian base.”
Adam explained "we will continue working hard to build a portfolio of investments in highly attractive fintech companies on a global basis,” he further added “our commitment goes far beyond simply capital. We provide access to vertical experts, senior advisors, a broad ecosystem at Sagard Holdings as well as opportunities for partnerships with our diverse international investor base.”