Portag3 secures trio of limited partners

Oct 31, 2016 • Robert Lavine

Power Financial Corporation, IGM Financial and Great West-Lifeco have provided the capital for Canada-based fintech fund Portag3.

Portag3 Ventures, a Canada-based venture capital firm focused on financial technology, has launched with sponsorship from financial services companies Power Financial Corporation, IGM Financial and Great West-Lifeco.

Portag3 will target Canadian fintech startups developing offerings that have “the potential for innovative change and global impact”. Its initial portfolio includes Power Financial-backed online investment manager WealthSimple.

Paul Desmarais III, vice-president of Power Financial and its parent company Power Corporation of Canada, has taken the executive chairman position at Portag3. Adam Felesky,…

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