Portag3 Ventures raises $320 million to develop FINTECH startups

Portag3 Ventures raises $320 million to develop FINTECH startups

Canadian venture capital firm Portag3 Ventures has raised $320 million from institutional and strategic investors, which it intends to invest in the development of FINTECH startups around the world.

TechCrunch reports that the company will focus on startups from regions such as Canada, the United States, Europe, and some markets in the Asia-Pacific region.

Adam Felesky, CEO of Portag3 Ventures, said The firm now faces the challenge of ” contributing to the creation of global companies based on the canadian industry.” He said:

“Canada has many experienced and talented experts and is one of the largest markets in the world. We have all the ingredients for success, we just need more successful companies, and we are on our way to creating them. Success breeds more success. We need to invest and work with the best specialists from all over the world.”

The funding round was attended by leading global financial firms, including Alterna Savings and Credit Union, Aviva France, BDC Capital, Caisse de dépôt et Place du Québec, CNP Assurances, Eldridge Industries and Green Shield Canada.

Recently, the accelerator of blockchain startups Tribe raised $15.7 million for the development of companies, and the Manager of investment funds 3iQ announced that it intends to attract canadian retail investors to its regulated Fund for bitcoin.

In addition, in the middle of last month, the largest canadian Bank, Royal Bank of Canada, said that it is considering launching its own platform for trading cryptocurrencies.