Fintech investor Portage is seeking to raise up to $1 billion for a new fund targeting late-stage startups. The fund will focus on “structured opportunities” within fintech and financial services firms globally, aiming for investments exceeding $50 million.
Portage CEO Adam Felesky shared with Reuters that the fund will invest in securities that blend debt and equity features. This structure allows firms to avoid locking in a valuation, an approach that Portage believes is crucial for startups reluctant to undergo traditional funding rounds that may devalue them during economic downturns.
“In this market environment, we’re seeing accelerated demand for flexible capital solutions as entrepreneurs and shareholders look to continue the strong growth trajectory of their business,” remarked fund co-head Daniel Ballen.