Canadian investment firm Portage has struck a deal to take over the fintech assets of American venture capital firm Point72 Ventures.
Editorial
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An affiliate of fintech-focused Portage takes over management of a portfolio of mature, later-stage companies via a US$280 million continuation vehicle.
The investment in the continuation vehicle was led by Goldman Sachs Alternatives and supported by a syndicate of secondary investors.
In addition to the CV, Portage and Point72 Ventures have entered into a services agreement under which Portage will oversee certain assets owned by Point72 Ventures that are not being transferred.
“This transaction underscores our confidence in the strength of this fintech portfolio and the potential synergies with Portage’s existing investments. Moreover, we think our value creation expertise will be a huge asset to these fintech companies as they continue to grow,” says Adam Felesky, CEO, Portage.
