New Canadian Fintech VC

Note from the Publisher:  Friends, if you’ve been with us for a while, you know the drill here.  We remain committed to focusing on American fintech at large, in a way no other US-based website does, but we can’t bury our heads in the sand and ignore fintech off our shores, because it’s growing all across the planet.  So today, we’ve learned that Canadian VC Portag3 has just launched a new fintech-specific fund.  While the press release of the “new” venture went out today (October 17), in fact the entity already has invested in several fintechs, including Canadian robo Wealthsimple, plus Borrowell, Clearbanc and others.

Adam Felesky and Paul Desmarais III today announced the closing of a new fund, Portag3 Ventures (“Portag3”), focused on the financial technology sector……

Portag3 is committed to finding creative, ambitious entrepreneurs who will help reshape the Canadian FinTech sector to benefit all consumers. Portag3 makes early stage investments in promising companies that have the potential for innovative change and global impact.

‘Our goal with Portag3 is to find the next generation of Canadian financial technology entrepreneurs and help them build global companies,’ said Felesky. ‘We are looking for creative ideas that have great potential. Our vision is to be long-term partners in the businesses we invest in. We will support each of them with our time, mentorship and expertise.’

Portag3 is exclusively backed by a corporate partnership between Power Financial Corporation (TSX: PWF), IGM Financial Inc. (TSX: IGM) and Great-West Lifeco Inc. (TSX: GWO).”

Read Full Press Release at CNW/Cision