Power Corp. writes down valuation of Wealthsimple, other fintech investments amid market rout

By Jon Victor May 12, 2022

MONTREAL — Power Corp. of Canada on Wednesday said the fair value of some of its fintech investments, including Wealthsimple and two of its Portage Ventures funds, declined as public-market investors offload technology stocks. The Montreal-based financial-services conglomerate disclosed the writedowns in its earnings report for the quarter ended March 31. Here’s what you need to know:

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