Portage Capital Solutions, which will be based in Toronto and New York, plans to write cheques above US$50 million, the firm said in a statement. (The Logic)
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Portage Capital Solutions, which will be based in Toronto and New York, plans to write cheques above US$50 million, the firm said in a statement. (The Logic)
Talking point: The launch comes a week after Portage announced the close of its third venture fund, its largest to date with US$655 million under management. It also comes amid a dramatic downturn for fintech companies. In an interview last week with Bloomberg, Portage CEO Adam Felesky said the company plans to take advantage of the correction and seek out deals. Portage Capital Solutions has already raised US$200 million from Power Corp., with which it is affiliated, and is targeting between US$750 million and US$1 billion, the firm said. The fund will be run by Devon Kirk, previously a managing director at CPP Investments, and Daniel Ballen, a former portfolio manager at PIMCO.
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