The blank-cheque company run by executives at Power Corp. unit Sagard raised US$240 million in its public offering, up from the US$200 million it had initially targeted. Shares in Portage Fintech Acquisition, which is trading on the Nasdaq under the symbol PFTAU, remained largely flat throughout the day after opening at just under US$10. (The Logic)

Talking point: The SPAC is Sagard’s latest initiative, as it looks to deploy hundreds of millions of dollars into all things fintech. Earlier this year, Power announced the closing of a third Portage Ventures fintech fund, with an initial US$148 million under management; just today, financial-software provider Conquest Planning announced that Portage was one of the investors in its $7.5-million round. The SPAC will look for a company to acquire in the fintech sector, with the hope that the combined company will benefit from the expertise of Sagard’s leadership team.