Canadian Venture Company Plans to Invest $320 Million in Fintech Startups
Portag3 Ventures has created a second fund for fintech startups around the world, as became known yesterday, December 3. They allocated 320 million US dollars at first, but this figure will probably increase in the future. The company's specialists will closely monitor new projects that are at the initial stage and offer them funds for development. Representatives of Portag3 Ventures declare that they are interested in fintech projects from around the world, but will pay special attention to such regions as the USA, Europe, Canada and part of Asia. CEO of Portag3 Ventures Adam Felesky is betting on the Canadian market: “Canada has the talent, the expertise and one of the biggest markets in the world directly to our south. All the ingredients are there, we just need more success stories — and we are on our way to getting them. Success will breed more success. In order to understand what it takes to succeed globally, you need to invest and work with the best of the best from around the world. Many of the early fintech unicorns are based in Europe on the back of substantive, helpful policy changes. Canada needs to learn from these examples so we get the right ingredients for building a leading, vibrant ecosystem — and we slowly but surely are.” – he said. Recall that Canada has developed new cryptocurrency rules to counter theft and money laundering.