Portag3 Ventures, a Canadian venture capital (VC) firm, has closed a second fund with around $320 million to invest in fintech startup companies globally.

On Dec. 3, TechCrunch reported that the VC company received final commitments from institutional and strategic investors totaling $320 million. The funds volition let the visitor to make early-stage investments in promising fintech startups effectually the world, with a detail focus on regions like Canada, the United States, Europe and sure markets in the Asia-Pacific region.

"Build global champions"

Portag3 Ventures CEO Adam Felesky reportedly said that the company is on a mission "to build global champions from a Canadian base." He explained:

"Canada has the talent, the expertise and one of the biggest markets in the world directly to our southward. All the ingredients are there, we only need more than success stories — and we are on our manner to getting them. Success volition breed more than success. In lodge to understand what it takes to succeed globally, y'all need to invest and work with the best of the best from around the world. Many of the early on fintech unicorns are based in Europe on the back of noun, helpful policy changes. Canada needs to larn from these examples so we become the correct ingredients for building a leading, vibrant ecosystem — and we slowly but surely are."

The funding round attracted globe-leading financial firms including Alterna Savings and Credit Matrimony, Aviva French republic, BDC Upper-case letter, Caisse de dépôt et placement du Québec, CNP Assurances, The Co-operators, Eldridge Industries, and Green Shield Canada, among others.

Bitcoin on major Canadian stock commutation

In November, Canadian investment fund manager 3iQ announced that it had filed a preliminary prospectus with the Ontario Securities Committee for its close-end Bitcoin (BTC) fund, which is expected to be bachelor on the Toronto Stock Exchange later this yr. 3iQ chief executive Fred Pye told Cointelegraph at the fourth dimension:

"Nosotros expect to listing on the Toronto Stock Exchange in late December or early January. As a part of our next steps, we're hoping to go Canada'south big banks on lath. Nosotros're hoping that two or three of Canada'southward biggest banks, specifically ones that want to pb in fintech infinite, volition bring together the syndicate grouping."