The Power Corporation disclosed in its third-quarter earnings report that the size of its fintech-focused fund increased from US$358 million in the previous quarter. (The Logic)
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The Power Corporation disclosed in its third-quarter earnings report that the size of its fintech-focused fund increased from US$358 million in the previous quarter. (The Logic)
Talking point: The additional commitments give Portage a sizable war chest to carry out its investment strategy. It’s also a massive increase over the US$148 million with which it said the fund would launch earlier this year. The fund, which is affiliated with Power’s alternative-investment arm Sagard Holdings, has made a flurry of deals this year, investing in at least 21 companies since the start of 2021, according to PitchBook. Some of its recent investments include Alpaca, a Tokyo-based company that allows firms to integrate stock trading into their platforms, and Nesto, a Montreal-based mortgage provider.
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