Portag3 Ventures Secured $320 Million To Invest In Fintech Startup Companies
Portag3 Ventures Secured $320 Million To Invest In Fintech Startup Companies
December 4, 2019
Portag3 Ventures Secured $320 Million To Invest In Fintech Startup Companies
Portag3 Ventures Secured $320 Million To Invest In Fintech Startup Companies
December 4, 2019

Portag3 Ventures, a Canadian Venture Capital (VC) firm, has closed a second fund with around $320 million to invest in fintech startup companies globally.

On December 3, it has been reported by TechCrunch that the VC Company received final commitments from institutional and strategic investors totaling $320 million.

However, the funds will allow the company to make early-stage investments in promising fintech startups around the world, with a particular focus on regions like Canada, the United States, Europe and certain markets in the Asia-Pacific region.

Adam Felesky, the CEO of Portag3 Ventures, reportedly said that the company is on a mission “to build global champions from a Canadian base.

ALSO READ :  Italian Red Cross Constructs Advanced COVID-19 Medical Post Using Funds Via Crypto Fundraiser

He explained:

“Canada has the talent, the expertise and one of the biggest markets in the world directly to our south. All the ingredients are there, we just need more success stories — and we are on our way to getting them. Success will breed more success. In order to understand what it takes to succeed globally, you need to invest and work with the best of the best from around the world. Many of the early fintech unicorns are based in Europe on the back of substantive, helpful policy changes. Canada needs to learn from these examples so we get the right ingredients for building a leading, vibrant ecosystem — and we slowly but surely are.”

Adam Felesky

Likewise, the funding round attracted world-leading financial firms including Alterna Savings and Credit Union, Aviva France, BDC Capital, Caisse de dépôt et placement du Québec, CNP Assurances, The Co-operators, Eldridge Industries, and Green Shield Canada, among others.

ALSO READ :  Blockchain Oracles: What You Need To Know?

In November 2019, 3iQ, the Canadian investment fund manager, announced that it had filed a preliminary prospectus with the Ontario Securities Commission for its close-end Bitcoin (BTC) fund, which is expected to be available on the Toronto Stock Exchange later this year.

Thus, Fred Pye, the chief executive of 3iQ, told:

“We expect to list on the Toronto Stock Exchange in late December or early January. As a part of our next steps, we’re hoping to get Canada’s big banks on board. We’re hoping that two or three of Canada’s biggest banks, specifically ones that want to lead in fintech space, will join the syndicate group.”

Fred Pye

Source: techcrunch.com | cointelegraph.com


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Blockchain Oracles: What You Need To Know?

Blockchain Oracles: What You Need To Know?

Blockchain oracles are the services that provide smart contracts with external information, which serve as bridges between blockchain and the outside world. Oracles are a powerful tool that can provide interoperability...

Programming Languages Used In Blockchain

Programming Languages Used In Blockchain

A programming language is a formal language comprising a set of instructions that produce various kinds of output. They are used in computer programming to...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.