$320 Million Secured By Venture Capital Company To Support Startups In Fintech Space

  • Portag3 Ventures has just finished up its funding round with $320 million now free to invest in fintech companies.
  • Earlier this week, reports surfaced that the VC company received final commitments from institutional and strategic investors totalling $320 million.

The Canadian venture capital (VC) firm, Portag3 Ventures has just recently finished up its second funding round with about $320 million now free to invest in fintech companies on a worldwide scale.

Earlier this week, reports surfaced that the VC company received final commitments from institutional and strategic investors totalling $320 million. The funds will give the firm the ability to make investments at an early stage in promising fintech startups across the globe, with a specific aim on countries such as Canada, the United States, Europe and other markets in the Asia-Pacific area(s).

The CEO of Portag3 Ventures, Adam Felesky has allegedly said that the firm is well on its way to complete its mission to build global champions from a Canadian base.”

He went onto explain:

“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.”

In November 3iQ c (the Canada based investment fund manager) revealed that it had filed a plan with the Ontario Securities Commission for its close-end Bitcoin fund.

The chief executive of 3iQ c Fred Pye said last month:

“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.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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