Canadian investment vehicle Portag3 Ventures has closed its second funding round, which will focus on the fintech market. The fund, which has closed at a value of $320 million, will specify in early-stage backing. Though looking primarily at Canada, the United States, Europe and the Asia-Pacific, the fund will search worldwide for exciting startups.
A glut of high-profile organizations contributed to the fund, including Aviva France, BDC Capital and CNP Assurances. They expound on a first round Portag3 closed last October, which totaled $149m. The company already has almost thirty startups in its portfolio including Albert, Flybits and KOHO, a Toronto-based firm offering simplified financial services, which won a $25m Series B round this week.
“Canada has the talent, the expertise and one of the biggest markets in the world directly to our south,” Portag3 CEO Adam Felesky told TechCrunch. “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.”