The Power Corp.-affiliated venture fund plans to take advantage of a decline in tech valuations to strike deals. The new fund, Portage’s third, is almost twice the size of the firm’s second fund. (Bloomberg)
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The Power Corp.-affiliated venture fund plans to take advantage of a decline in tech valuations to strike deals. The new fund, Portage’s third, is almost twice the size of the firm’s second fund. (Bloomberg)
Talking point: Roughly half of the fund’s 34 institutional investors are new to Portage. Investors in the new fund include returning backers like National Bank and Equitable Bank, as well as credit union Vancity, The Logic previously reported. Meanwhile, on Thursday, New York-based startup Covey announced that it raised US$2.5 million in a seed round co-led by Portage Ventures and Social Leverage. The company operates a blockchain-based platform that allows users to get paid for publishing good stock picks.
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