Portag3 Ventures, a VC firm controlled by Power, intends to invest half the funds in North America, 40 per cent in Europe and 10 per cent elsewhere. (The Logic)
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Portag3 Ventures, a VC firm controlled by Power, intends to invest half the funds in North America, 40 per cent in Europe and 10 per cent elsewhere. (The Logic)
Talking point: In 2016, Portag3 created a fintech fund backed exclusively by firms associated with Power. This new fund brought in money from over 20 investors, including the Public Sector Pension Investment Board and the Caisse de dépôt et placement du Québec. In August, The Logic reported the Caisse was planning a $2-billion fund focused on “disruptive technologies.” International firms Aviva France, Israel-based Harel Insurance & Finance and Silicon Valley-based NSV Wolf Capital also invested. Power was an early investor in many of the most prominent Canadian fintechs, including League, Clearbanc, Wave and Wealthsimple. In May, The Logic reported Power had an 88.6 per cent voting interest in the last firm. With its new fund, Portag3 will limit itself to ownership stakes of 10 to 20 per cent.
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