Fintech Startups Investment of Portag3
Canadian venture capital (VC) firm, Portag3 Ventures, has recently invested in fintech startup companies worldwide. Also, this means that the firm has closed a second fund with around $320 million for investment.
Last December 3, TechCrunch revealed that the VC firm received final commitments from institutional and strategic investors, adding up to $320 million. Moreover, the funds will let the firm make early-stage investments in bright fintech startups globally. The company’s attention is in regions like Canada, the United States, Europe, and specific markets in the Asia-Pacific region.
In addition to that, Portag3 Ventures CEO Adam Felesky indicated that the firm is on a mission to create global champions from a Canadian base. Also, he explained how talented Canada is, and it has the biggest markets in the world directly to its south. He said that every ingredient is there, and they just “need more success stories.”
“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,” Felesky indicated.
Many of the fintech unicorns are in Europe on the back of substantive, helpful policy changes. And according to the CEO, Canada must learn from these examples. This is in order to have the right ingredients in building a leading, vibrant ecosystem.
Then, the funding round has drawn world-leading financial companies. And these include Alterna Savings and Credit Union, Aviva France, BDC Capital, Caisse de dépôt et placement du Québec, The Co-operators, CNP Assurances, Eldrige Industries, and Green Shield Canada.
Bitcoin in Canadian Stock Exchange
Previously in November, Canadian investment fund manager 3iQ revealed that it filed a preliminary prospectus with the Ontario Securities Commission for its close-end Bitcoin fund. And they expect this to be available on the Toronto Stock Exchange before this year ends.
Fred Pye, 3iQ chief executive, stated, “We’re hoping that two or three of Canada’s biggest banks.”
Additionally, he specified that the ones that want to head in fintech space would join the syndicate group.”