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Laxman Pai, Opalesque Asia: Global fintech-focused venture capital investor Portage is raising a structured equity fund that will focus on financing late-stage startups in the financial technology sector that are reluctant to take a hit in their valuation amid the market downturn.
According to a press release from the venture investor, the fund, Portage Capital Solutions (PCS) Fund, will be led by co-heads Daniel Ballen and Devon Kirk. This vehicle will focus on FinTech and financial services companies globally and target investments over $50m.
The fintech-focused PCS fund is seeking to raise up to $1bn for the so-called structured equity fund, investing in securities that combine debt and equity features and do not require startups to lock in a valuation as with traditional equity fundraising, said a report by Reuters.
Devon Kirk has nearly two decades of experience in private equity and structured solutions with a focus on financials. Devon spent over ten years at CPP Investments, based in Toronto. She was most recently Managing Director & Head of Capital Solutions, overseeing financials, special situations, and esoteric investments. Daniel Ballen has spent nearly twenty years investing in private equity, structured equity, and special situations focused on the financial services, fintech, and real estate technology sectors.
"We see many great companies that are looking for the right partner. Portage's expertise and network in fintech and financial serv...................... To view our full article Click here
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